Cultivating a Culture of Continuous Recognition
Employee Appreciation Day, celebrated on the first Friday in March, is a day dedicated to employers expressing gratitude to their employees for their hard work and effort throughout the year. However, the essence of this day extends beyond a single event. It serves as a reminder of the importance of fostering a positive people culture within companies, where recognition and appreciation are ingrained in everyday practices.
The Great Resignation: A Wake-Up Call
The Great Resignation of 2023, which saw a significant wave of job resignations across the UK, served as a wake-up call for many organisations. It highlighted the importance of employee satisfaction and the role of recognition in retaining talent.
The Great Resignation was not a sudden or isolated event. It was the culmination of a series of changes in the workplace, accelerated by the Covid-19 pandemic. The shift to remote work, the increased focus on work-life balance, and the reassessment of career goals led many employees to reconsider their current jobs.
However, the Great Resignation also brought to light the underlying issues in the workplace that had been overlooked for years. Lack of recognition, limited career advancement opportunities, and inadequate compensation were among the top reasons for employees leaving their jobs.
The Power of Employee Appreciation
Employee appreciation is more than just a feel-good factor. It has a tangible impact on job satisfaction, productivity, and profitability. According to a survey by Oxford University, over 81% of employees agree that recognition for their contributions improves their engagement. However, only 49% of U.K. workers are at companies where everyone is empowered to recognise good work.
The lack of employee appreciation can have a significant impact on productivity and profitability. Happy workers are 13% more productive, and organisations with a solid employee recognition strategy can expect higher employee engagement, better employee morale, improved customer service, and lower employee turnover.
Recognition is not just about acknowledging achievements. It’s about employees as individuals, understanding their aspirations, and supporting their growth. When employees feel appreciated, they are more likely to be engaged, motivated, and committed to their work.
Building a Positive People Culture
While Employee Appreciation Day is a great initiative, it should not be the only time employees feel valued. A positive people culture is one where recognition and appreciation are part of the everyday fabric of the organisation. Celebrating employees sporadically, recognising key milestones, and acknowledging everyday efforts can boost morale, increase productivity, and ultimately lead to higher profitability.
A positive people culture is not just about making employees feel good. It’s about creating an environment that attracts top talent, retains valuable employees, and drives business success. In 2022, Forbes identified highly engaged teams can realise a 41% reduction in absenteeism and 59% less staff turnover. Moreover, companies with strong cultures saw a 4x increase in revenue growth, with 85% of companies saying culture offers a competitive advantage.
In the wake of the Great Resignation, it’s more important than ever for companies to invest in employee appreciation and engagement programmes. I-Tel Group offers tailored employee experience programmes and full team initiatives to effectively communicate appreciation and deliver impactful corporate messages across your workforce. By partnering with I-Tel Group, companies can improve the employee experience whilst driving savings, value, and convenience with customised solutions.
By investing in employee appreciation and engagement programmes, companies can not only improve their productivity and profitability but also foster a positive work environment where employees feel valued and appreciated.
