The first Friday in March is officially ‘Employee Appreciation Day’. This has been devised as an opportunity for business owners to show their appreciation for their employees.
Unemployment in Ireland is at its lowest level since 2007 with turnover increasing to 11% in 2019. As the Labour Market is currently the tightest it has been in many years, Irish employers are finding it increasingly difficult to recruit and retain talent.
HR Team Director, Martina McAuley, says: “Expressing employee appreciation can increase engagement, improve job satisfaction, workplace happiness, and employee morale – all of which are desirable for any business.
“In many instances, it can just be as simple as saying ‘thank you’ or ‘well done.’ Staff love nothing more than being recognised for doing good job. So, it is extremely important to do just that if, and when, it is merited.”
Engaging with your employees is vital, as a recent study has shown that engaged organisations have 37% less absenteeism, 65% lower employee turnover and 30% greater customer satisfaction. Displaying employee appreciation can produce exceptional results in your workplace. Simple ways you can appreciate employees are:
- Say thank you.
- Reward hard work.
- Provide positive feedback.
- Host an appreciation event.
- Involve employees in decision making.
- Provide incentives to work towards.
Showing your employees that you appreciate their hard work, requires minimal effort, costs little to nothing, and does not consume much of your time. The benefits of expressing gratitude can be plentiful, such as:
When employees feel they are being appreciated, their motivation is improved. They may work more efficiently, proactively and provide improved customer service. If efforts are likely to be rewarded and praised, then it is likely that employees will work harder to receive recognition.
Employees that are appreciated are happier and more content at work – this boosts motivation, increases engagement and cultivates loyalty. When an employer treats employees with respect and gratitude, this can improve work ethic while attendance infractions may also be minimised.
If your employees are content with their work and know that their efforts are not overlooked, employee retention may be increased and turnover costs reduced. A high staff turnover leads to poor morale that can make others want to look for employment elsewhere. Rewarding hard work and a provision of incentives or rewards gives employees a tangible reason to stay.
“Advocating gratitude for top performers as an employee recognition program can be the foundation for continuous employee development, strong staff engagement and a retention strategy for the future,” says Ms McAuley.
Do you have an employment query? Consult with us today on any aspect of employment law or strategic human resource services. Tel +44 2871 271882