Three reasons that saying thank you is vital for business success

Image: Shutterstock

Some 71 per cent of executives rank employee engagement “very important” to achieving company success, according to a report published by Harvard Business Review.

Furthermore, the research links high employee engagement – and happiness – to high customer satisfaction levels.

(1) Cultivating a good company culture

Thanking individuals within the business for their contributions will increase employee engagement, morale and ultimately productivity. However, building and nurturing a positive company culture is harder said than done. It takes years, if not decades.

For instance, a recent study by Steelcase showed that 83 per cent of employees in the UK are not engaged or actively disengaged at work.

So, here are some quick ways to increase employee engagement:

Company-wide activities

Dedicating time for your employees to socialise and forge friendships is the foundation of any happy workforce. This can come in the form of weekly sports activities like joining a local football tournament for example, monthly office parties or bi-annual trips out of the office – or even the country.

Why SMEs should think of today’s employees as consumers

Freedom

Instilling trust in individuals will do wonders for morale. Ensuring employees feel valued and responsible for their actions, while giving them freedom, is vital to individual happiness. Flexible working is a great way to do this. Whether it’s allowing individuals to work the hours they choose between 8am-7pm, or work from anywhere once a week to increase motivation as well as creativity.

The reasons 7.5m UK workers want to swap a pay rise for home working

Reward schemes

Give back to the individuals in the company that go that one step further. This can mean a variety of things, from hitting targets and objectives, “employee of the month” programmes or other niche monthly rewards. However, it is worth considering investing in the reward. Receiving a plastic trophy for outstanding work may undermine the initiative. Rather, choose prizes that can be personalised for each individual.

Giving thanks can also bring in new talent and happy customers – read on for the final two methods you can embrace to boost your business.

Share this story

Close
Menu
Send this to a friend