Every year Employee Appreciation Day falls on the first Friday in March. It's a practice that is not only important influence on your productivity, bottom line, and turnover, it's also something you should be focusing on every day.
Showing appreciation is a way to recognize employees for their hard work and contributions to the company as a whole. Recognition is the number one thing employees say their manager could give them to inspire them to produce great work. There are a number of studies that show when it comes to inspiring people to be their best at work, nothing else comes close to the impact of workplace recognition—not even higher pay, promotion, autonomy or training.
So as employee appreciation day approaches, here are two reasons why the national holiday is more important than ever.
We can all agree that going to work each day and feeling like what you do is overlooked can build until you're ready to find another job. Global studies reveal that 79 percent of people who quit their jobs cite ‘lack of appreciation’ as their reason for leaving, and 51 percent are looking for new jobs or watching for openings. Now, more than ever, managers need to be paying attention to their employees' morale if they want to retain their talent.
Related: How to Retain Top Talent in 2023 [Free Guide]
Employee Appreciation Day is a national reminder to show gratitude to those you work with. Everyone wants to feel valued for their contributions to their team and organizations, so why not take this time to show and tell?
Showing appreciation does wonders for business and can be as easy as recognizing when good work has been done. Gallup reports that 57% of baby boomers, 76% of gen Xer’s, and 81% of millennials say that giving recognition better connects them to their organization’s products and services.
Appreciation and recognition go hand in hand because they communicate that you value your employees, and it spreads like wildfire throughout an organization. Even just the act of seeing someone else being recognized can boost morale for everyone in the office. At the end of the day, these acts contribute to an appreciative company culture that everyone can work by.
"As we express our gratitude, we must never forget that the highest appreciation is not to utter words, but to live by them."
— John F. Kennedy
Although Employee Appreciation Day comes just once a year, showing appreciation and giving recognition is something that can be done all year to grow a supportive company culture that fosters teamwork and retains the best talent. Take this day of the year to set goals for your own employee recognition initiative, whether you have a program or not, and leave us a comment below on what you're doing to show your appreciation.
Looking for the perfect way to say thank you? Learn how gift cards can work for your business.