I love this quote by Josh Bersin. It’s true – people are the only appreciating asset on your balance sheet. And it’s funny because the research says that appreciating them will make them appreciate even more.
The feeling of being valued (including receiving praise and appreciation) has been shown to increase employee engagement, productivity, performance and retention.
That was true before the Pandemic. It’s even more true now.
And it costs absolutely nothing.
Yet too few managers praise their team enough or in the right way.
How do I know this? Because employee engagement rates have not gone up in over a decade. Because employee retention rates continue to decline.
We are in the midst of a talent short market. It’s easier, and much more cost effective to retain your current employees than it is to look for new ones. And praise and appreciation is one of the best ways to do that.
#embracethefuture #employeeengagement #employeeretention
