March 1 is Employee Appreciation Day, a day that is dedicated to recognizing the hard work and loyalty shown by your employees throughout the year. While any token of appreciation and acknowledgment can boost morale and performance, just how effective and meaningful is the impact of appreciation?
What is Employee Appreciation Day?
Employee Appreciation Day is an unofficial national holiday that is celebrated on the first Friday of March. It is designed to recognize the efforts—large and small—of every employee at your company. While not every contribution is earth-shattering, all efforts dedicated to improving your business deserve recognition and can significantly increase the impact of appreciation.
How will Employee Appreciation Day make a difference to my employees?
While running a successful business may entail daily tasks such as managing finances and inventory, it also entails, even more importantly, managing people. It has been said there are three components that people need to feel fulfilled: appreciation, recognition, and validation. Studies have shown that employees who feel appreciated are likely to be happier at work and more productive.
Appreciation can also:
- Be a mood booster—Appreciation simply makes people feel good.
- Increase retention—The happier your employees are, the greater the impact of appreciation and the more likely they will stay with you.
- Promote a healthy work culture—Employees who feel appreciated will be happier and eager to attend work regularly and contribute to success.
What is the connection between employee recognition and wellbeing?
Studies have shown that employees who receive significant recognition for their work experience lower stress and burnout, improved daily emotions, and enjoy healthy relationships with their co-workers. That, in turn, can potentially lead to an improved work environment where thriving employees are more likely to be top performers.
How can the impact of appreciation increase employee retention?
Showing employees that their work is recognized creates a deeper connection to a company and a sense of purpose that can generate energy and commitment. By putting your employees first, you focus on their engagement and well-being. Examples include investing in their futures by providing a clear career path through education and professional development training and by training advanced job skills. When employers show gratitude through appreciation or encouragement, job satisfaction and engagement increase.
Who is responsible for showing appreciation?
Recognition from a direct supervisor is impactful. But when employees feel that they are making a real impression on the business with appreciation from a top executive, they feel even more valued. Studies show that workers can be distressed when management does not express appreciation for their work. Simple gestures of gratitude can reinforce employees’ accomplishments and provide motivation. Gestures include offering growth opportunities; involving employees in strategic decisions or projects; meeting individually to discuss employee’s goals; or asking for your employee’s opinion.
Employees are a company’s greatest asset. Let’s all remind our employees that we appreciate them on March 1st and every day!
