August 23, 2022

The Power of Thanks

By Paul Daniels

With Labor Day approaching, this is a good time to say thank you to all your workers. Hiring continues to be an issue in our industry, which makes retaining your workers even more important. As such, it is vital to ensure that you create a culture of recognition in your business.

Workers who are appreciated stay longer. We all enjoy someone who says thank you.

“When somebody receives more than five formal thank you moments in a year, their propensity to leave is cut in half, from about 15% to 7%,” says Eric Mosley, CEO and co-founder of Workhuman. “If they receive up to 12 moments of recognition per year from a manager or peer, that goes down to 2%.”

Creating this culture in your business starts at the top. Once it becomes a habit, it will be contagious throughout your organization.

Mosely adds that “the network effect of appreciation has the same properties as other networks as it becomes a habit: Thanks, begets more thanks, which fuels positivity.”

We all want to work for successful and positive organizations. This doesn’t happen without those at the top appreciating the people in the organization who make it successful.

No matter how large or small your business is, creating a positive atmosphere will not only retain employees but also customers. People want to do business with positive organizations. When you call businesses of any kind, you can tell whether it provides a good work environment by the way the people answer.

Labor Day is a good time to stop and appreciate your employees for all they do and to rededicate your commitment to creating a positive work culture.

To retain and attract good people to your organization, give them a nice place to come to work every day. Try to emphasize gratitude and recognition in your business.

A good way to start is to say thank you.