It’s not rocket science, really. Humans want to be recognized for the value they bring to a project, family or organization. Whether they are a trusted confidant, customer or employee, a smart leader will take the time to recognize and appreciate the contributions of others.
It has long been said (on this very blog) that studies show that 69% of customers that leave you will do so because of “perceived indifference.” This is one of those good news/bad news cases. The bad news is, it’s all your fault. The good news is, you can fix it. You do the little things (and sometimes big things) that let each of your customers know that you appreciate their business.
But a new study says the same is true for employees! A study conducted by Healthstream of 100,000 managers and employees revealed that 79% of people who quit their jobs cited “A lack of appreciation is a key reason for leaving.” Wow. 8 in 10 of your employees and co-workers leave because they simply don’t think anyone cares! It’s what I call “The Appreciation Gap.”
So what can you do to fix it? A lot, really.
The simple things (that are true for your customers) are true for employees. Just tell them. Stop by their work station and (sincerely) thank them for their work. Send them a card. Call them out in a positive way in front of the team. Show them appreciation.
You can also create programs that will recognize them on work anniversaries and birthdays. The fact is, there is a lot you can do. Need more ideas? Let us know!
But get out there and say “thank you” today. Recognition is KEY For Success.