Fay Sumner, Head of Talent from Capital on Tap says, “The success of any business depends on the hard work and dedication of its employees. Showing your team that you value them will not only boost employee morale, motivation, and productivity, but it also means you should be able to attract and keep great talent for years to come.
“It’s important to note there isn’t a ‘one size fits all’ approach for showing employee appreciation, and each person will prefer different styles of recognition. You must understand your employees on an individual level, so you can express your thanks in a way that will make them feel the most appreciated.”
- Give regular shout-outs
It might sound simple, but people like to be praised, so make sure you’re regularly highlighting any particularly great work within your team. This could be in-person, for example during company-wide meetings, or on work channels such as Slack or Teams. You might also want to go public and express your gratitude on social media — just make sure your employees are happy being in the spotlight.
Remember too that recognition doesn’t always need to come from the leadership team. 41% of workers say they want to be recognised by their fellow coworkers, so encouraging peer-to-peer praise is another way to increase appreciation across the business.
- Invest in their growth
Lots of people want to work for a company that they can grow with. In fact, 92% of the UK workforce say they want employers to offer training opportunities and a clear career path that allows them to develop both professionally and personally³.
You might want to enrol your employees on external training courses, send them to conferences, or even organise cross-team training opportunities so that they can learn from each other.
Fay explains, “Make sure your team has a say in their development too. At Capital on Tap, we provide every employee with a £1,000 training budget that can be used to develop their skills and abilities in whatever way they see fit.”
- Organise regular socials
Hosting events and regular socials is not only a great way to show your appreciation, but it’s also a chance for team members to build relationships outside of work. According to a recent study, 70% of employees say they would be happier if they had deeper connections with work coworkers.
Company events can mean a big do, such as an annual Christmas party, but it can also mean smaller socials like regular trips to the pub, dedicated team wellness days, or even just taking staff out to lunch every quarter.
- Reward their dedication and hard work with time off
Everyone needs time to relax, and nothing says ‘I appreciate your hard work’ quite like giving workers some additional annual leave. Giving employees more time to spend how they wish, such as between Christmas and New Year, you might want to reward long service with an additional holiday allowance.
Fay explains, “Here at Capital on Tap, we know how important a good work-life balance is. To thank our employees who have been with us for a while, we also offer a four-week paid sabbatical every four years.”
- Remember the anniversaries
Job hopping is becoming more and more common, so make sure to recognise an employee’s dedication to your business by celebrating their work anniversaries.
Fay says, “One way you can show your appreciation is to offer financial anniversary rewards, which is something we do, with an annual reward for every year someone stays with us.”
- Listen
Above all, employees want to feel listened to. Be sure to welcome their feedback, and make it known that your team can come to you at any time with questions, suggestions, or ideas.
You might also want to organise regular employee surveys to gather feedback on what is going well and what might need improving in the business. It’s important that employees are able to continuously offer insights that can change your business for the better.