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How Showing Gratitude Can Grow Your Company

recognition for business growth

Employee retention is at the top of your list of priorities as a business owner, and if it isn’t, it very well should be. Your top talent are worth every penny you spend on them, but it doesn’t mean much to them if you don’t show them gratitude. As a leader, you need to personally and sincerely show your gratitude. According to one survey done by Glassdoor, 53 percent of participants said they’d stay with their employer longer if the boss made them feel more appreciated. It also showed that 81 percent of employees stated they’d work harder if they were more appreciated. This data is key for those looking to improve their business development strategy, especially if they’re looking to retain more of their employees and top talent.

Regularly appreciating your workers can give them a sense of purpose, self-efficacy and self-worth. According to Psychology Today, gratitude can aid in the production of dopamine, which is our feel-good chemical the brain releases. This is also what helps us sleep better, stress less and improve our wellness and metabolism.

In a sense, the gratitude you show to employees helps improve their wellness, health and motivation. You shouldn’t overlook the concept of motivating your teams – after all, your strategy and business development relies on your employees. So the more robust they are, the better the business for your company.

To reap the benefits of showing gratitude, here are a few tips to get you started:

  • Say please and thank you sincerely. It doesn’t hurt to show basic manners, just make sure you’re doing it genuinely. You want to save your gratitude for when it counts most. Refrain from expressing gratitude insincerely for every little thing or it becomes meaningless.
  • Develop a team mentality. Co-workers are your family away from family, so try to create an environment where employees can know and trust one another.
  • Show, don’t tell. It’s great to speak your gratitude to employees, but nothing’s better than showing it. Certainly, this can be in the form of raises and bonuses, but it can also be shown in other meaningful ways to employees such as paid time off, gift cards, public awards or granting something special like a spa day.
  • Incorporate gratitude into your company culture. You want gratitude to be shown by everyone, not just leaders. You have to make it easier for workers to say thanks. Set aside time during meetings or throw welcome and going away parties. These are all ideal settings for this to take place.  The bottom line:  employees who know they are appreciated produce more!!!

IDS consulting firm that specializes in small business strategy and development. It also provides an assortment of other services, like tax planning, exit strategy and business valuations.

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