Why should you celebrate Employee Appreciation Day?

Employee Appreciation Day is right around the corner. Although employee recognition should be exercised more than once a year, March 4th is a reminder of the importance of incorporating this practice in your organization. Employee engagement and recognition have become key factors in keeping top talent – and companies are taking notice.

According to Deloitte’s Global Human Capital Trends 2015, 87% of companies now rate "retention, engagement, and culture" as an important imperative and 50% rate it "urgent."

Not convinced? Here are a few statistics that highlight the importance of having engaged employees and why it should be addressed in every organization:

57% of employees don’t feel recognized for their progress at work.

Only 40% of employees feel engaged. Most feel disengaged to various degrees.

Disengaged employees costs up to $350 billion per year in lost productivity in the U.S.

Companies with highly engaged workforces outperform their peers by 147% in earnings per share.

Employees who report feeling valued by their employer are 60% more likely to report they are motivated to do their very best for their employer. 

As you can see, employee engagement not only impacts employees, but organization’s themselves. Encouraging employees and showing appreciation can be highly effective in retaining employees and driving better performance. When an individual’s success is closely connected to the company’s goals, employees feel like they are making a difference and contributing to achieving larger goals.

Don’t know where to start? Small gestures can make a BIG impact. You may not be able to afford the new lounge or a gym, but there are plenty of inexpensive, cost-efficient ways to give your employees the boost they need. For example:

Offer a handwritten note.

Give your employee a “shout-out” on social media platforms used internally or externally.

Let employees leave a few hours early on March 4th.

Let employees enjoy extended breaks.

Offer free coffee for the day.

Provide employees the opportunity to learn and develop new skills through public speakers, workshops or webinars.

So don’t waste any time! The sky is the limit when you have everyone motivated and working towards the same goals.

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