Are UK organisations doing a good enough job of appreciating their workers? Probably not, and yet there is now compelling evidence which proves that staff appreciation is not just a ‘fluffy HR thing’, but profoundly impacts the entire organisation, creating a competitive advantage.
Robert Ordever, MD of O.C. Tanner Europe – a specialist in engaging workplace cultures – lists top seven reasons why companies must build appreciation and recognition into their organisational cultures.
- Workers who feel appreciated and valued, enjoy a closer and more trusting relationship with their organisation when compared with those workers who feel taken for granted.
- When workers feel appreciated, they are more engaged and have a higher morale. Research shows that of the people who report the highest morale at work, 94.4 per cent agree that their managers are effective at recognition.
- Being appreciative will improve staff retention. Research shows that 79 per cent of employees who quit their jobs cite a lack of appreciation as a key reason for leaving.
- Appreciation can elevate the performance of your teams because workers who feel recognised for a job well done will always deliver more than expected. This then improves productivity and profitability. Research by the O.C. Tanner Institute, which took place over 10 years and involved a 200,000 person study, proves that effective recognition positively impacts return on equity (ROE), return on assets (ROA) and operating margins.
- Showing a public display of appreciation reminds people what ‘great work’ looks like and encourages them to copy the ‘right’ behaviours and values, thereby strengthening your organisational culture.
- Appreciating effort in the workplace and not just rewarding results drives innovation, for instance recognising when workers try new things, even if they fail, encourages better and smarter ways of working.
- Encouraging an appreciative culture benefits the ‘givers’ of recognition as well as the ‘receivers’. Research shows that ‘givers’ of recognition are positively impacted in seven different areas including their motivation to contribute, pride in their organisation and willingness to go ‘above and beyond’.
With so many convincing reasons to make staff appreciation an organisational norm, make today the day you push for change!