Most people thrive on kind words. In the workplace, employees like to know that they’ve done a good job and that their managers recognize the work they’re doing. The days of saying “I’m paying you to do a job” and that being acceptable are long gone. In this article, Scott Crockett, Everest Business Funding’s CEO, discusses how to motivate your employees to do a good job consistently.
Everest Business Funding received multiple “Best and Brightest Companies to Work for” awards over the recent years, and Scott Crockett is here to share five reasons why appreciation of your employees is a huge contributor to your business success.
#1. It Drives Employee Productivity
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There are many studies that show that employees who feel appreciated have more determination and a higher drive to succeed. One study conducted by Cicero found that employees who receive recognition establish better relationships at work and a stronger connection to the company they work for.
In the end, these things lead to employees being more efficient and contributing better ideas. Overall, their performance and engagement increase, which results in higher output for the company.
#2. It Makes Employees Feel Valuable
It’s important to note the big difference between recognition and appreciation. Recognition is temporary. In other words, it’s done in response to a specific act or accomplishment.
Appreciation, on the other hand, is longer-lasting. When you appreciate someone, you’re telling them you value who they are, not just what they do.
Appreciation makes employees feel inherently valuable, which motivates them to go the extra mile for the company.
#3. It Motivates Employees to Stay
Work today is about more than just making money. Employees today want to work at a company that values their work, and that is inclusive.
When you show your employees you appreciate them, you create an attractive work environment. This motivates employees to remain at your company rather than looking for a new job — even if they can get a little more money elsewhere.
This will drive down your turnover rate, which will save you lots of money and headaches in the long run.
#4. It Makes the Workplace Fun
Happy employees make for a happy workplace. And a happy workplace is something that people don’t dread coming to every day.
All business owners would want to create a fun place to work. It’s not about creating a frat-like atmosphere or one that’s too casual. It’s about creating a culture where people communicate, like each other, and support each other.
#5. It Makes Employees Want to Participate
One of the most valuable things about showing appreciation in the workplace is that you get employees engaged in the work. If you truly want to succeed in business today, you need not only buy-in from your employees but their active participation, too.
When employees feel appreciated, they are more likely to share ideas and give feedback than can help you improve operations.
About Scott Crockett
Scott Crockett is the founder and CEO of Everest Business Funding. Crockett is a seasoned professional with huge experience of experience in the finance industry. He has a track record that includes raising more than $250 million in capital and creating thousands of jobs. He built and managed several finance companies in the consumer and commercial finance sectors.