If you’re a business leader, you know that employee engagement is a priority. Yet employee retention is an issue that many companies struggle to overcome.
Every year, businesses spend a lot of time and money filling open recs. And in addition to the time it takes to recruit and onboard new employees, it actually costs organizations more to fill an open position than it does to salary an employee.
In your efforts to avoid employee churn and the costs accrued from it, it’s essential to infuse an attitude of gratitude within your company’s culture.
Since 79% of employees claim they would be less likely to pursue other roles if they received more recognition, regularly practicing appreciation will help you guarantee that you’re promoting positive sentiments in your workplace by ensuring that your colleagues feel valued.
In this post, we’ll cover why business leaders who practice gratitude foster strong company culture, including:
- Why it’s a struggle to recruit and retain top talent
- Strategies for strengthening employee-manager relationships
- How to leverage EQ to create a positive workplace environment
- 5 easy ways to practice employee appreciation
The Main Challenges with Attracting Top Talent
When it comes to attracting top talent, all businesses are competing with organizations that are riddled with perks.
With large companies providing benefits and bonuses including free food, nap pods, and cold brew on tap, it might be hard for your business to stand out—especially if your organization doesn’t have the budget.
To make matters more daunting, finding the right candidates to fill open recs has become increasingly difficult. According to TalentLyft, 40.4% of recruiters face a shortage of skilled candidates, while other challenges include a small recruiting budget and no defined process for attracting talent.
Since it takes time, effort, and resources to hire and train new employees, it’s essential for company stakeholders to foster a culture of gratitude in order to guarantee that workers remain enthusiastic and engaged once hired.
Why Do Employees Seek New Roles?
If your business has been facing employee turnover—or if you’re worried that you’ll encounter employee churn as the pandemic subsides—it’s important to consider why your workers may be looking to change companies.
A few main reasons that employees pursue new roles include the following:
1.) A negative work environment or company culture – Employees are 26% more likely to leave their jobs if they believe that their company’s culture is unhealthy or toxic.
2.) A derogatory manager-employee relationship – When employees do not have positive relationships with their managers, they struggle to stay motivated.
3.) A lack of appreciation – Although employees are one of the most important factors behind an organization’s success, workers are less likely to feel valued if their company doesn’t have a regular employee appreciation program in place.
While you might not be able to control or influence every factor accounting for why employees leave, the reasons listed above can be avoided if you choose to include an attitude of gratitude within your company’s practices.
Tactics for Mending Employee-Manager Relationships
Maybe you first encountered the popular phrase while reading Forbes, or perhaps you’ve seen it on your LinkedIn feed: “People don’t quit their jobs, they quit their bosses.”
According to LinkedIn, three out of four employees report their boss is the worst and most stressful component of their job. However, a lot of employee-manager issues can be mended through better communication.
Two suggestions for strengthening employee-manager dialogue within your organization are as follows:
- Have managers undergo “mindfulness” training. This can be conducted while they’re being onboarded and will help them to become stronger leaders through honing their emotional intelligence skills.
- Provide your managers with tactics for how they can practice employee appreciation regularly. This will help managers to circumvent the employee appreciation paradox by encouraging them to reinforce positive employee behaviors.
These tactics will help you to ensure that employee-manager discussions are both positive and productive for both parties involved, and will help you to guarantee that employee churn doesn’t affect your business’ bottom line.
Leveraging EQ to Create a Positive Company Culture
The easiest way to foster a positive company culture is by making sure that both managers and their reports leverage emotional intelligence (EQ) on a regular basis.
Not only is there a significant correlation between EQ and workplace fulfillment, but research suggests that organizational leaders can enhance employees’ job satisfaction by regularly expressing empathy.
Some examples of EQ-driven strategies that will help you to craft a constructive company culture include the following:
- Create a safe office environment – Regardless of if your office is in-person or virtual, make sure that you encourage employees to express their sentiments. By instituting an open-door policy, or simply approaching your employees individually to ask them how they’re feeling, these practices will go a long way in creating a work environment that feels comfortable.
- Address and diffuse negative behaviors – Whether you see an adverse message in a Slack channel, or overhear a statement that could be misinterpreted while walking around the office, it’s important to address and diffuse negative commentary and behaviors to ensure that your organization’s culture remains cohesive.
- Practice active listening – According to Inc., employees who feel heard are 4.6x more likely to feel empowered to do their best work. So, to practice active listening, try sending out a survey to obtain your coworkers’ feedback, and review their responses to identify issues that need to be confronted.
These techniques will help you create a company culture that will not only ensure retention but will also prompt open recs to be filled faster.
5 Ways to Acknowledge Employees to Ensure They Feel Valued
Here at Thnks, we value company culture and have been honored to be named a top place to work.
Since we know that the key to guaranteeing that employees feel valued is by acknowledging positive practices and encouraging teamwork, we’ve put together some tips for how your business can stand out and attract top talent by making appreciation top of mind:
- Share “thank you” notes – When your employees have gone above and beyond, sending a simple “thank you” note via email, Slack, or Teams can go a long way and will make their day a bit brighter.
- Give them shout-outs – The next time you’re in a team or company meeting, try calling out an employee who’s been stepping up their game. Additionally, giving them a LinkedIn shout-out will make them feel special and show them how much you value their hard work.
- Compliment them when introducing them to others – If you find yourself connecting your employees with other individuals in your network, try giving them a compliment when making the introduction to boost their confidence.
- Honor special occasions in their lives – Whether their birthday is around the corner or they recently celebrated a work anniversary, make sure that you’re acknowledging special occasions that occur in your employees’ lives.
- Try saying Thnks! – The simplest way to practice employee recognition is by saying Thnks. Sharing little gestures of appreciation with your colleagues will help you to guarantee that your business prioritizes internal gratitude.
Strong Company Culture Starts with Grateful Leadership
Whether you’re back in the office, strategizing an effective return, or WFH for the foreseeable future, you can still incorporate one technique that’s capable of having an impact amidst post-pandemic adjustments: practicing gratitude.
In order to ensure that workers remain engaged, it’s necessary to weave an attitude of gratitude throughout our conversations with our colleagues—even if they’re occurring through digital channels.
Luckily, the easiest way for business leaders to demonstrate their gratitude starts with saying Thnks.
Saying Thnks can help your business create a culture that’s infused with an attitude of gratitude. Within seconds, managers and employees alike can send gestures of appreciation with their professional connections by searching for an expression, creating a customized note, and sharing it via SMS or email. Interested in learning more? Sign up for a demo, or click here to learn more about expressing gratitude in business!