Chairman's Perspective - December Voice 2021

Gratitude in the workplace

Showing appreciation for employees, customers pays big dividends

By the time you read this, the turkey and pumpkin pie will be eaten, and Thanksgiving will seem like a distant memory. If you are like my family, the day after Thanksgiving is the official start of our Christmas preparations, and the sprint to year end will be underway. I am writing this, however, about one week before Thanksgiving, so I am asking that you indulge me a bit because Thanksgiving is on my mind.

I could fill this whole article with the things I am grateful for, including the easy ones like my wife and my kids, my friends and my health as well as some of the less obvious ones like gratitude for time spent outdoors and the discovery of a new hobby. But what about gratitude in the workplace?

I am thankful to have a job that provides for our needs and allows me to help others, but when was the last time I expressed gratitude to those I am privileged to work with on a daily basis? When was the last time I truly made a customer (or in my case a fund holder) feel appreciated, and when did I last say thanks to one of the many suppliers/ vendors/service providers who help make my business successful?

I think my answers to all these questions is … not recently or often enough. Most of us spend the majority of our waking hours at work, and as such, I am suggesting that focusing on being grateful at work is worth our time.

Measureable Effects

It is well documented that being grateful can have a very positive impact on the grateful person, including measurable physical and mental health benefits, but there is also a business case for showing gratitude at work.

In a recent Forbes article, they reported the findings of a study by the American Psychological Association noting that “93 percent of employees who ‘reported feeling valued said that they are motivated to do their best at work and 88 percent reported feeling engaged’.” The study went on to show that only 21 percent of workers feeling valued were likely to look for a new job in the coming year.

The article also describes a spillover effect whereby individuals who feel valued “become more trusting with each other and more likely to help each other out.” In these days of employee shortages, it is more important than ever to let your team know that they are valued.

Showing your customers that you appreciate them can pay huge dividends. A survey done by the customer experience firm Smile.io shows that 68 percent of businesses have lost a customer because that customer did not feel appreciated. Conversely, the survey shows that 86 percent of shoppers are willing to pay more for a better customer experience, which is often attributed to personalization and gratitude.

Letting customers know that you appreciate them can be a crucial component of a retention strategy, and retaining customers is a whole lot easier (and cheaper) than attracting new customers.

So how do you show gratitude?

Here are few simple tips that have worked for me in the past.

1. Be Genuine. Show gratitude for things you truly appreciate.

2. Be Intentional. Said another way, make the time to show gratitude.

3. Be Personal. This one is especially important with your co-workers. Find out how they want to be recognized. For some it is a note or a pat on the back, for others it is the gift of time and maybe a small gift card to their favorite coffee house.

4. Be Timely. Express your gratitude while it is fresh on your mind.

I wish each of you a peaceful holiday season filled with gratitude.

Dan Ross is chairman of the Rockford Chamber and president of the Community Foundation of Northern Illinois.