When was the last time you experienced genuine gratitude at work? If you can’t recall, you’re not alone. Gratitude is often thought of as a personal virtue to practice in everyday life or around holidays. “The practice of expressing gratitude is far more often associated with personal relationships like friendships, partnerships, or family,” says Intelligent Change. “You rarely hear the words ‘gratitude’ and ‘business’ in the same sentence.”
A recent study by the John Templeton Foundation revealed that the workplace is the least likely place to find widespread gratitude. Yet, when leaders recognize gratitude as a powerful force in the workplace, companies can reap the many social, psychological, and organizational benefits it offers.
Benefits with Clients and Other Stakeholders
Showing gratitude is more than just a polite gesture; it’s a powerful tool that can foster satisfaction, loyalty, and a positive brand reputation. Here are a few benefits of consistently showing gratitude to clients, vendors, and other stakeholders.
Loyalty
Expressing gratitude to clients, customers, vendors, and other stakeholders is often overlooked by busy organizations. Individuals and organizations choose to work with your business out of countless options. Remind them that you don’t take their business for granted by showing your appreciation. Send handwritten thank-you notes, small gifts for the holidays, or verbally express gratitude for their continued partnership.
Train team members to express gratitude during every client and stakeholder interaction—whether it’s a quick thank-you email after a call or a warm in-person greeting. These simple gestures go a long way in making people feel valued. Clients and other partners will be more loyal to a brand knowing their business is truly appreciated.
Positive Brand Reputation
In a digital marketplace, word-of-mouth and online reviews can make or break a business’s reputation. By cultivating a culture of gratitude, organizations create an environment where clients and partners feel valued and appreciated. This increases the likelihood that they will share their positive experiences with others, both online and in real life. This sentiment can translate into glowing reviews, social media buzz, and a strong, positive brand reputation that attracts new customers and drives more business.
Competitive Advantage
When competition is fierce, expressing gratitude can set your business apart from the rest. People remember how you make them feel, and by demonstrating genuine interest and appreciation, companies create memorable and positive experiences that can differentiate their brands in a sea of competitors.
Organizational Benefits
Leaders are busier than ever, and it’s easy to get caught up in the bottom line and forget about the people who are instrumental in driving success—your team. Here are some reasons why showing gratitude internally is essential to organizational success.
Employee Retention
Lack of appreciation is a top reason employees leave jobs, while recognizing and rewarding employees decrease turnover. Some research shows that 63 percent of employees say they feel unappreciated by their bosses and 59 percent say they have never felt appreciated for their workplace contributions.
Leadership Circle recently polled their 150,000 LinkedIn followers on the most effective way to show team appreciation. Nearly half (43 percent) of respondents said public displays of recognition are the way to go; 30 percent voted for a pay increase or bonus; and 22 percent said a thank-you gift is the most effective way to make a colleague feel appreciated. Consider implementing an employee of the month or other recognition programs including opportunities for professional advancement.
By expressing gratitude to your team members for their hard work, dedication, and contributions, leaders create a positive work ethos that fosters a sense of belonging and purpose.
Productivity
Appreciation is a powerful motivator. Employees who feel appreciated and valued are more likely to be engaged, motivated, and committed to their work. In a recent survey of 800 full-time U.S. employees, 83 percent of respondents said that recognition affects their motivation to succeed at work.
Recognizing an employee’s achievements makes them feel valued and motivates them to not only continue to perform at a high level but even go above and beyond. This behavior can translate into higher productivity, efficiency, creativity, and problem-solving.
Attracting New Talent
As they say, you never get a second chance to make a first impression. Potential applicants scour sites like Glassdoor and LinkedIn to get the inside scoop from current and former employees. They want the unfiltered truth about your corporate culture and values. If what they find doesn’t align with their own desires and priorities, they’ll swiftly move on to the next opportunity.
To attract top-tier talent amidst all the transparency of the internet, cultivating a culture of appreciation and gratitude is key.
Be the Change You Want to See
To instill a culture of gratitude within an organization, it needs to start from the top. Leaders who model grateful behavior are compassionate, empathetic, and generous with their time and attention. Grand gestures aren’t essential—sometimes, it’s the little things that matter most. Model kindness in all interactions. A single “thank you” can start a chain reaction of appreciation that reverberates throughout an organization and beyond.
