In today’s business environment, there are many challenges. The rapid adjustments necessitated by the COVID response in 2020 have continued to evolve and change the landscape of the workplace. Shifting dynamics have made maintaining employee morale and retaining top talent trickier than ever.

Recent research revealed that 63.3% of companies under 500 employees consider retaining personnel harder than hiring new people. In fact, US employers spend $1.1B per year on employee retention efforts. 

In this environment, it is more critical than ever that employers show appreciation for their employees’ good work and contributions. This article will examine six simple and cost-effective ways to ensure that your best employees feel valued and appreciated. 

Value Their Input

One of the main reasons people leave an organization is that they feel that their opinions, thoughts, and ideas are going unheard. But management should recognize that the people on the front lines, doing the work and engaging with the customers, can often provide the very best insight. By fostering an environment where feedback is welcomed and providing constructive criticism is safe, your employees will begin to understand that they are valued members of the team. 

Provide Perks

There is often a significant disparity between management and staff level pay – and your employees know it. Not only are pay scales often disparate, but managers receive perks and benefits that many employees do not. While providing raises to the entire team may not be possible, providing tangible acknowledgment that they are working hard certainly is. You may consider providing their cell phone service, offering a stipend for commuting costs, or even bringing an entire department out to lunch once a month. All of these are more manageable ways to show employees that they deserve some perks as well. 

Train Management to Show Gratitude

It can be easy to forget to thank employees for a job well done, especially on a day-to-day basis. In fact, management often adopts the attitude of “it’s their job, so…”. Even if a report or a presentation falls squarely into the realm of someone’s job description, thanking them for their hard work is easy to do. Micro-recognition is the habit of thanking people and recognizing them for both small and significant efforts; and is a positive culture change for any organization to adopt. 

Make Them Go Viral

Social media is a powerful tool to tell the world about your stellar employees. You’ll need their permission, of course. But posting an “Employee of the Week” segment and tagging them so all of their friends and family see it will provide a meaningful morale boost and let your employees know that not only are they are valuable to you – but that you want everyone to know. (By the way, you’ll also do wonders for your goodwill in their community.) 

Normalize Celebrations

By knowing everyone’s birthday and work-anniversary dates, you can create a culture of celebrating your employees. While some companies may choose to provide a breakroom cake and balloons for every occasion, such extravagance is unnecessary. Simply announce the special day within the organization, and provide the recipient with a small gift – such as a $10 gift card to a local coffee shop or a free lunch with their boss. 

Encourage a Company-Wide Culture

As stated above, management should cultivate providing recognition to employees. But gratitude doesn’t need to stop there – encourage your employees to recognize and thank each other. You can have a company bulletin board where people can post their kudos – or even create a fun, interactive game. Allow employees to cast votes for the most helpful person on staff and provide monthly prizes, such as a cash bonus or free day off. 

Gratitude and appreciation can go a long way to transforming company culture, which will help employers retain key employees at all levels. Don’t fight the rising trend of restless and transient employees – eliminate it by practicing recognition. 

Aginto is a digital marketing firm based in Sarasota. We help small businesses to grow and thrive through strategic technology and innovative online expertise.