Employee gifts—an important part of employee recognition—help keep your workers feeling valued and engaged in your business. And that helps you attract and keep your best employees – a competitive necessity in today’s business environment.
If you’ve ever given an employee, say, a gift Certificate of Gratitude for a holiday ham or turkey—along with a smile, a handshake, and a sincere thank you—their eyes probably lit up. All of us have an innate need to feel valued and appreciated. And that means your employees and colleagues too. There’s nothing like knowing that what you do matters. It makes you care more about your work, your co-workers and your company’s success.
Unfortunately, many employers don’t seem to understand that sharing gratitude in the workplace is as important as sharing it with family and friends. Phoenix Business Journal reporter Angela Gonzales cites a recent Harris Interactive poll that shows 18% of workers are dissatisfied with their jobs, up from 15% in 2013. Of those who are dissatisfied, 65% say they don’t feel valued. And that means the successful health of those companies are at risk.
Turnover is up
Dissatisfaction leads to expensive turnover. In “3 Ways to Increase Employee Retention,” Huffington Post contributor Carol Roth writes that:
“While many are struggling to find work … there are also many businesses struggling to find and retain top talent. For all businesses, but small businesses in particular, having the right team in place is critical to business success and growth. Losing a key player can be devastating.”
This is a real challenge, she notes. In fact, according to a recent survey by CareerBuilder, approximately 21% of employees planned to switch jobs in 2014, the largest amount in the post-recession era, and up from 17% in 2013.
Employee engagement is down
Gallup’s new 142-country study on the State of the Global Workplace shows only 13% of employees worldwide are engaged at work. That means only about one in eight are committed to their jobs and likely to be making positive contributions at work.
While Americans may be satisfied with their job security, and with other aspects of their jobs such as vacation time and retirement benefits, it does not necessarily mean they are engaged at work.
Engagement boosts profitability
Engagement-focused managers increase productivity and success by creating an environment that energizes and motivates employees and teams, helping them reach the highest levels of performance.
Compared to workgroups with low levels of employee engagement, those with high engagement levels experience:
- 22% higher profitability
- 21% higher productivity
- 65% lower turnover
- 10% higher customer ratings
Employee gifts increase engagement
[Tweet “Organizations that give regular thanks to their employees far outperform those that don’t”] writes HR expert Josh Bersin, founder and principal at Bersin by Deloitte in a Forbes article, “New Research Unlocks the Secret of Employee Recognition.”
His research shows companies that scored in the top 20% for building a “recognition-rich culture” actually had 31% lower voluntary turnover rates. The five best gift-giving practices his organization identified are:
- Recognize people based on specific results and behaviors.
- Implement peer-to-peer awards—not just top down.
- Share recognition stories in your newsletter or blog.
- Make recognition easy and frequent—give all employees a gift-giving budget.
- Tie it to your own company values or goals.
“I know this stuff sounds fluffy and not very business-like, but believe me it works,” he writes. “Too many CEOs and managers focus on bottom-line results without thinking about how it feels to slog away and work without anyone saying thanks.
Compensation and benefits support a fundamental need, but recognition and career advancement support our higher-level psychological needs.”
For comprehensive how-to information on recognizing workers and building a vibrant culture of recognition, download our FREE eBook, “The Ultimate Guide to Employee Gift-Giving” now.
About gThankYou, LLC
Turkey Gift Certificates and Turkey Or Ham Gift Certificates by gThankYou! are two of America’s favorite employee gifts and can be redeemed for any Brand (Turkey or Turkey Or Ham), at virtually any Grocery Store in the U.S.
gThankYou, LLC provides company leaders with a variety of easy, meaningful and affordable ways to recognize and reward employees, holiday time or anytime. gThankYou! Certificates of Gratitude and our free Enclosure Cards are personalizable including incorporating your company logo. And, nearly all orders ship same day.
gThankYou, LLC (www.gthankyou.com) is based in Madison, Wisconsin. Contact: Rick Kiley, Chief ThankYou! Officer, gThankYou, LLC at firstname.lastname@example.org or 888-484-1658.
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