As we look forward to Employee Appreciation Day on the first Friday in March, consider how your organization says thank you to its most important assets: its employees. Recent data tells us the importance of rewarding and saying thank you to employees continues to be a significant satisfaction factor not only to the company’s bottom line but also in the retention of those employees.
A recent Gallup poll shows that quiet quitting still affects upwards of 50% of the workforce today, with Gen Z and younger millennials feeling the most disengaged and unsatisfied. While it’s difficult to predict if this trend is on its way out or here to stay, saying—and showing—thank you is crucial to employee satisfaction. Still, the traditional ways of saying thanks may need some dusting off. After all, actions speak louder than words.
The Modern Appreciation Experience
Time and again, employees rank high satisfaction on surveys when the company says thank you with customized and specially curated experiences. Employees are most appreciative when their company shows appreciation in a way that allows them to show their personal style, choose rewards that are most meaningful to them, and experience something special that sparks joy.
Ways to modernize the appreciation experience include:
- Instead of giving all employees the same gift or reward, allow them their choice of a selection of products and goods for a more personalized and impactful experience.
- Provide customized items during a gifting experience that employees can’t get elsewhere, such as monogrammed goods or gifts with the company logo included.
- Travel is always an incredibly motivating end engaging experience. During group trips, make it even more special with a choice of all-expenses-paid activities, or create a once-in-a-lifetime experience with an individual travel incentive reward.
Don’t limit gifting and rewards to Employee Appreciation Day or the end of the year. Keep employees engaged year-round by recognizing other milestones such as birthdays, anniversaries (both work and personal), promotions, and more.
This Employee Appreciation Day, we ask you to seriously think about how you motivate and inspire your employees. Does your current strategy focus only on your top sales performers, leaving everyone else feeling underappreciated? Are you using the same old techniques like a monthly pizza/birthday party even though more and more employees are working remotely? It may be time for an update.
Here at M&IW, we have the expertise and tools to help you navigate the shift in today’s workforce expectations. We have researched businesses large and small across a broad spectrum of industries in order to define the best practices for engaging and energizing workforces.
We would love to show you how to make your current strategy soar to new heights! Contact us to learn more and get started today.
Kathy Gibbons, CIS
Manager, Incentives and Engagement
Meetings & Incentives Worldwide, Inc.