Author: Chris Schembra
Back in April, 4 million Americans quit their jobs, setting a 20-year record high. With the increased number of openings, workers can be more selective, and it’s causing a major talent shortage. According to Hawke Media, 46% of companies can’t find the right combination of people and skills in the job market. Employers are responding by offering higher wages, signing bonuses, and even cash for showing up to interviews.
Better pay is a powerful motivator, but in my experience, when an employee jumps ship, it’s not just about the money. A study of 200,000 managers and employees found that 79% of people who quit their jobs cite lack of appreciation as a major reason for leaving. More than half of employees feel they worked harder last year than ever before but haven’t been recognized for it.
Feeling disconnected and underappreciated can lead to lower productivity and, ultimately, higher turnover. On the flip side, we’ve found that gratitude is the foundation for long-lasting loyalty. When managers are effective at recognizing employees, they see lower turnover. Another study found significant correlation between gratitude and job satisfaction.
While it may seem obvious that people who feel appreciated are more likely to stick around, gratitude is still underutilized in the workplace. One big reason is that leaders just don’t know how to show their appreciation without throwing meaningless money at the problem. If this sounds familiar, here are five concrete ways to practice gratitude within your organization.