5 Ways To Celebrate Employee Appreciation Day
“Train people well enough so they can leave, treat them well enough so they don’t want to.” ~ Richard Branson
With the possible exception of sleeping, most employees will spend more time working than on any other activity–isn’t it time to show that you value their hard work and loyalty? On the first Friday of March, businesses around the world celebrate Employee Appreciation Day, a day to, well, show appreciation for you hard-working employees!
Your employees know that you appreciate them, right? Actually, most of them don’t! According to a 2017 Employee Engagement Report, only 25 percent of employees feel valued at work–a 16 percentage point drop-off from the previous year. A happy employee is the best kind of employee, not just for your business, and for your customers. Failure to acknowledge or reward an employee properly can lead to a drop-off in motivation, effort, and productivity, and will eventually lead to this employee looking elsewhere for work. It’s the same with any kind of relationship, really.
Employees who feel valued stick around longer, leading to less turnover and less money/time spent on hiring and training new employees. 50% of employees believe increased recognition would reduce voluntary turnover. Just a mere 5% increase in employee retention can result in a 25-85% boost in profits.
Your customers will also notice when employees are happy–41% of customers are loyal to a brand or company because they consistently notice a positive employee attitude, while 68% of customers defect from a brand or company because of negative employee attitude. Organizations with higher than average levels of employee engagement saw 27% higher profits, 50% higher sales, 50% higher customer loyalty levels, and 38% above-average productivity.
So how CAN you show your appreciation to your employees? Here Are 5 ways to celebrate Employee Appreciation Day:
1. The Way To An Employee’s Heart Is Through Their Stomach
Everyone loves a free meal! Take your team out for lunch, or have a special meal brought into the office. If lunch is feeling a little overdone at your office, bring in something a little different, like a breakfast buffet or an afternoon snack bar. Add some music and games, and you’ve got yourself an office party.
2. Go Somewhere Fun
Taking your team / staff out can be a great break from the usual office atmosphere, while still allowing the opportunity for employees and management to mingle and grow closer. Hold a group brainstorming session or send out an office-wide email and let your employees decide what they want to do and where they want to go. Good team-building outings can be something fun, yet challenging, such as mini golf or ice skating, or the outing could be relaxing, such as drinks out at a bar with live music or a trip to the museum. These events can either be held during special occasions, or they could happen on a set schedule, such as every month/couple of months. Reach out to local businesses and let them know you want to do a company event; most businesses will be happy to offer private, company-only events.
3. Offer A Reward That Is Rewarding
Offering a financial reward outside of a paycheque is a great way to increase an employee’s morale and motivation. Cash is nice and so is a cheque, but it’s easy for that to get confused with regular pay. Instead, offer something different, like a company-branded rewards card or loyalty card. An open-loop prepaid card can be used anywhere Mastercard® or Visa® is accepted, which means your employees can purchase what they actually want, where they want, when they want. The cards are easy to use, and they can be reloaded whenever you want. The branded card itself is also a constant reminder of the fact that you value and recognize their hard work.
4. Praise Your Employees
Giving praise is an important and effective way to show that you appreciate your employees. Send out a company-wide email or newsletter to highlight top employees and recognize special events/birthdays/milestones. A great way for employees to feel special–and also a way for other people in the office to get to know each other–is to have an “employee spotlight” each month that focuses on the history/life of one special employee. Recognize your employees in a public setting like on your company’s Facebook/Twitter/LinkedIn accounts. If an employee makes a big sale or pushes a new feature live, let people in the office know. Highlighting an employee’s achievements in front of their colleagues can go a long way.
5. A Points Program = Powerful Incentive Program
An effective way to reward employees for reaching goals or hitting certain milestones is through a points program. Typically, points can be redeemed for merchandise, items, food, etc.; however, the TruCash program is even better. With the multi-functional TruCash card, points can be converted to cash directly on their cards, allowing members to spend their rewards on what the really value and what best suits their lifestyle. Contact us today for more information, including how you can set up your business with a TruCash program.
After showing your appreciation for your employees today, make sure you continue your efforts throughout the rest of 2018!