OPINION: Leaders forget that just saying “thank you” sincerely and often is the most effective way to create a culture where people want to stay.
For the first time in a generation, the power balance in the workplace has shifted to workers, and businesses who try to hold on to talent with perks like no-Zoom Fridays and signing bonuses for warehouse workers are falling behind.
While your competitors squeeze their bottom lines in a salary arms race, consider how the power of recognition can attract and retain employees. Consider the savings in turnover costs alone and you wonder why leaders aren’t taking time every day to express thanks, loyalty and appreciation. While leaders must initiate cultural changes like public recognition for a job well done, a culture of recognition really takes off when every employee picks up the habit. As a result, an organization will retain positive people that are impactful and innovative because they are happy and connected to the humans around them. The network effect of appreciation has the same properties as other networks as it becomes habit: Thanks begets more thanks, which fuels positivity.
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