The first Friday in March is devoted for the national Employee Appreciation Day. This holiday that is not officially recognized in the calendar of workplaces is designed to draw attention to the value to employees in the workplace. Employee Appreciation Day provides an excellent occasion for employers to acknowledge the contribution of employees to the growth of their business.

The Concept Behind The Idea Behind Appreciation Day

Employee Appreciation Day the idea of Bob Nelson, a founding member of Recognition Professionals International. This first employee contributions was established on the 15th of April in 1995, to remind managers and employers that positive relations between employers and employees are essential for the long-term success of a business. Making time to appreciate and respect employees is an excellent approach to motivate them to not just be themselves, but also exceed expectations.

Four Payoffs To Celebrate Employee Appreciation Day, Which Can Have a significant impact on Profit Margins

A strong and healthy employer-employee relation is always a winning. The slightest acknowledgement from management could make a significant difference to employees, and significantly improve their performance. What is the significance?

Increase engagement and increase productivity

A disgruntled workforce can have an negative impact on efficiency. For instance, studies have revealed that an organization could suffer a 37 percent increase in the level of absenteeism as well as 18 percent lower productivity levels.

Recognizing and acknowledging the contribution of employees can be a powerful reminder of how much employers appreciate them. This is the first step to unlocking the potential for increasing productivity. Results from an Glassdoor study showed an 81% percentage of workers interviewed believe they will have more motivation to perform their work in the event of being praised by their bosses.

Recognition of employees at work sets off an incredibly powerful chain reaction more engagement results in greater motivation and performance improvement. Additionally, acknowledging the specific actions that an employee has taken is more likely to repeat the same behavior later on.

Keep loyal employees

Alongside improved productivity, showing the employees they’re appreciated employees of the business goes far in keeping their loyalty. The benefits and salary may draw people to work but it is the appreciation that motivates them to remain.

The results of the OC Tanner research study show that 79% of employees quit their jobs due to a lack of appreciation. Another intriguing statistic shows that the second most significant reason for employees to be less engaged is feeling unappreciated. Eighty-two percent of workers are looking to receive more appreciation from their bosses.

Too often the decrease in productivity results in employees leaving the company. You are now looking for an alternative. However, once the position was filled can take some time for the new hire to be brought up the speed of. This means that organizations have to lose their internal expertise (when they lose their experienced employees) and face unsettling interruptions in their daily operation.

Managers must remember that replacing every employee at a cost. The research conducted by Gallup suggests that estimates conservative of replacement costs for employees could range from one half to more than the annual earnings of an employee.

Reduce the expense of the disengagement of employees

It’s not just the expense to replace employees which could lower profit margins. The cost of employee disengagement could be devastating, too. Another Gallup study shows that employees who are unhappy have an increase of 15% in profitability.

Create a culture of trust within your company

The company’s culture is often the factor that draws the best talent to an organization. Corporate culture is an intangible which reassures employees that the company is committed to its employees. Engagement, satisfaction, and retention are among the main factors that contribute to the culture of the organization.

The advantages of a positive corporate culture are that it gives hiring managers an advantage in selecting the best from the pool of talent as well as creating a feeling of community at work and enhancing employees’ loyalty to the company.

7 Ideas to Honor Employee Appreciation Day

The kind that is used for Employee Appreciation Celebration Day you choose will be based in the amount of money spent by the organization as well as its structure and the budget. For instance, some firms might offer gifts to employees individually, and others might gather all employees at the dining table.

Here are some ideas for celebrating Employee Appreciation Day in 2023.

Ask your employees what they’d like to mark the day.

Find out from employees how they feel valued. A survey or suggestion box is a great method of gauging expectations from employees. This way, managers be aware that their ideas for appreciation will be appreciated, and employees will be happy to be valued.

Have fun with your group.

Make time to play bingo, bowling and karaoke or any other type of activity that is enjoyable for your employees. This way employees will be able to relax and build relationships with their coworkers.

Distribute self-care kits that are personalized

Who doesn’t enjoy a relaxing day in an spa in these times? Spa retreats, wellness certificates, yoga classes, and pamper gift packages are great gifts that emphasize health and wellbeing.

Personalized “Thank You” notes

Giving thanks with personal “thank thank you” notes is an excellent method to make every employee feel appreciated and valued. Thank them for the contribution they bring to the company.

Offer lunch to employees.

Everyone is in love with a tasty lunch, be it pizza or pasta, burgers as well as burrito bowls.

Get them home earlier.

There’s a gift money can’t buy and that’s time. Therefore, close the shop early for the day, and let your employees go home and enjoy an extra hour with their family and friends.

Start a wellness program for employees

The programs are focused on employees’ wellbeing and health. The programs can cover meditation, stress management as well as resilience training. physical fitness and mental wellbeing programs.

In an overview

The return on investment from acknowledging and rewarding employees on during Employee Appreciation Day are enhanced by fostering employees’ satisfaction, wellbeing as well as a sense that there is a importance and confidence. Motivating employees can translate into tangible and beneficial benefits for business.

Employee appreciation should not be restricted to a single day during the year, but should be a an integral part of a well-planned management plan.