2020 has been a challenging year for everyone. The COVID-19 pandemic has led to unparalleled uncertainty and stress. Growing health concerns, soaring unemployment and a volatile economy has caused instability around the world. The manufacturing industry was not immune. In the onset of the pandemic, the manufacturing industry in Ontario was forecasting a 5.7 per cent decline in output for 2020 and Statistics Canada reported the drop in productivity in Canadian manufacturing led to the loss of 31,600 jobs.
Despite all this, we still have much to be grateful for. Appreciation is something we don’t always take enough time for – but it is incredibly important in business.
Why appreciation is important
Investing in a culture of appreciation is investing in your business. According to Business News Daily, the benefits include:
· Build trust between employee and employer
· Boost productivity
· Decrease turnover
Trust is essential for your team to produce quality work every day. You want your employees to want to come to work and put their best foot forward. Happy employees lead to consistent productivity – and that goes right to your bottom line.
All this also has an impact on employee retention. A survey from Glassdoor showed 53% of people say they feel more appreciation from their boss would help them stay longer at their company.
Retention is a big deal for any company. Hiring and training new employees can seriously cost you. In an industry like ours where the skilled worker shortage has been a pain point for years, retention is even more critical. That’s why investing in your workforce is just that – an investment. Do it right, and you’ll get a positive ROI. Appreciation plays a big role in that.
It seems simple, but showing gratitude is incredibly powerful. Especially in a time where people are facing so many fears, a little ‘thank you’ can go a long way.
How to show to show appreciation in the workplace
It’s important to listen, check in and tell your team why you value them. Be proactive and consistent. Don’t wait until a big accomplishment to thank your staff. Make it a habit, part of your culture.
It’s also important to not just focus on results, but behaviour and inherent value. Your employees are human beings after all, and we all want to be recognized and appreciated for who we are and what we bring to the table.
Another tip: be specific. Gratitude is more meaningful when it is tied to something specific and relevant. Tailor your appreciation to the individual. Let them know you notice their personal dedication and it matters. A generic “thank you for working so hard” is one thing, but “thank you for helping us deliver the job so efficiently. Your skills in X helped us cut production time by X” takes it one step further.
Above all else, make it genuine. Authenticity is not just a buzz word – people notice and value it. Appreciation doesn’t have the same effect if it comes across an inauthentic. In fact, it can have the opposite effect.
Make it part of your daily management style to notice positive attitudes and actions – big and small – and communicating it. Thanking your team will not only impact employee happiness and engagement, but productivity and retention. With a culture of genuine gratitude everyone wins.