The first Friday in March is devoted for the nation’s Employee Appreciation Day. This non-official holiday on the calendar of work seeks to highlight the value of employees at work. Employee Appreciation Day provides an excellent occasion for employers to acknowledge and acknowledge the contributions of employees to the growth of their business.
The Concept Behind the Idea behind Employee Appreciation Day
Employee Appreciation Day an idea that was developed by Bob Nelson, a founding member of Recognition Professionals International. This first employee contributions was introduced on the 15th of April in 1995, to remind managers and employers that good relations between employees and employers are essential to the long-term success of a business. The time taken to recognize and acknowledge employees is an excellent approach to motivate employees to not just show their best, but also exceed expectations.
Four Payoffs To Celebrate Employee Appreciation Day, Which Can Have a significant impact on Profit Margins
A healthy and stable employer-employee relation is always a winning. The slightest acknowledgement from management could make a significant difference to employees and positively affect their performance. What is the significance?
Increase engagement and increase productivity
Unhappy employees can have a major effect on the productivity. For instance, studies have revealed that an organization could suffer a 37 percent increase in the level of absenteeism as well as 18 percent of lower productivity levels.
Recognizing and acknowledging the contribution of employees can be a powerful reminder of how much employers value their contributions. This is the first step to unlocking the potential for increasing productivity. Results from the Glassdoor study showed an 81% percentage of the employees interviewed believe they will have more motivation to perform their work when they are rewarded by their bosses.
Recognition of employees at work sets off an incredibly powerful chain reaction increased engagement leads to higher motivation and improved performance. Furthermore, when you recognize the specific actions that an employee has taken is more likely to be replicated later on.
Keep loyal employees
Alongside improved productivity, showing workers that they’re respected employees of the business goes far in keeping their loyalty. The benefits and salary may make people want to join a company however, appreciation is a great motivator to remain.
Results from the OC Tanner research study show that 79% of employees quit their jobs because of a lack of appreciation. Another intriguing statistic shows that the second most significant factor that reduces employee engagement is feeling that they are not valued. Eighty-two percent of workers search for recognition from their supervisors.
Too often the decrease in productivity results in employees leaving the company. Then, you’re looking for an employee to replace them. However, once the position was filled can take some time for the new hire to get up to level. This means that organizations have to lose their internal expertise (when they lose their experienced employees) and face unsettling interruptions in their daily activities.
Managers must remember that replacing every employee at a cost. The research conducted by Gallup indicates that estimates that are conservative of replacement costs for employees could differ from one and a half to more than the amount of income earned by an employee.
Reduce the expense of the disengagement of employees
It’s not just the expense to replace employees which may lower profit margins. The costs of disengagement from employees can be devastating, too. Another Gallup study shows that employees who are unhappy show an increase of 15% in profitability.
Create a culture of trust within your company
The company’s culture is often the main reason for attracting top talent to an organisation. Corporate culture is an intangible, which assures employees that the company is committed to its employees. Employee satisfaction, engagement and retention are among the most important factors related to the culture of the organization.
The benefits of having a solid corporate culture are that it gives hiring managers an advantage to pick the most skilled from the pool of talent and creating a strong sense of community in the workplace and enhancing employees’ loyalty to the company.
7 Ideas to Recognize Employee Appreciation Day
The kind or type of Employee Appreciation day celebration you choose will be based in the amount of money spent by the business the organization it is in, as well as the budget. For instance, some firms might offer gifts to employees individually, and others might gather all employees at the dining table.
Here are some fantastic ideas for celebrating Employee Appreciation Day in 2023.
Ask your employees what they’d like to commemorate the day.
Find out from employees how they feel valued. A survey or suggestion box is a great method of gauging expectations from employees. By doing this, managers will appreciate their suggestions will be appreciated, and employees will be happy to be acknowledged.
Have fun with your group.
Make time to bowling, bingo and karaoke or whatever else is enjoyable for your employees. In the end employees will be able to relax and build relationships with their coworkers.
Give out self-care packs that are customized
Who doesn’t want to spend a time in an spa in these times? Spa getaways, wellness retreats, gift certificates, yoga classes, and pamper gift packages are great present ideas that are focused on health and wellbeing.
Personalized “Thank You” notes
Giving thanks with personal “thank for you” notes is an excellent way to let each employee feel appreciated and valued. Recognize the contributions they bring to the business.
Offer lunch to employees.
Everyone enjoys a delicious lunch, be it pizza or pasta, burgers, and burrito bowls.
Get them home earlier.
There’s one thing that money cannot buy, and that’s time. Therefore, close the shop early for the day, and let your employees go home and enjoy an extra hour with their family and friends.
Start a wellness program for employees
The programs are focused on employees’ well-being and health. The programs can cover meditation, stress management as well as resilience training. exercises and psychological wellness programs.
In an overview
The benefits of giving employees recognition and appreciation for their efforts on Employee Appreciation Day can be increased by encouraging employees’ satisfaction, wellbeing as well as a sense that there is a importance and trust. The motivation of employees is a key factor that can result in tangible, beneficial business benefits.
The idea of recognizing employees shouldn’t be confined to one day during the year, as they are a crucial an integral part of any smart management plan.
