The value of employee appreciation initiatives

The value of employee appreciation initiatives

If you want happy and productive employees, it’s important to show them that they’re appreciated. Whether it’s praise for a specific project they’ve spent weeks working hard on or a general reminder that you appreciate everything they do, rewarding your employees can boost morale, leading to a more positive work culture – and more engaged employees. 

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Importance of employee appreciation

Employee appreciation is more than just a nice-to-have. It’s crucial for building an engaged workforce and attracting new talent to your organization. Here are some of the benefits:

  • Improved retention rates: Recognizing and rewarding employees can make them more likely to stick around, with 71% of employees saying they’d be less likely to leave their organization if they were recognized more often.
  • Better engagement: When it comes to showing your employees that you care, both recognition and appreciation are important. Recognition is showing gratitude for their work or actions, while appreciation is more about showing you value them as an employee – and a person. Employees who receive great recognition are 20 times more likely to be engaged as employees who receive poor recognition. 
  • Improved productivity: Workers who get regular recognition are also more likely to be productive, with a huge 77.9% of employees stating that they’d be more productive if they received more regular praise.

Attract employees: If potential new employees can clearly see that you have employee recognition and appreciation programs in place, it may make your organization more attractive to them.

Employee appreciation initiatives

So, then, how can you make your employees feel valued? Here are some of our favorite employee appreciation initiatives.

Regular feedback

First things first: don’t underestimate the importance of giving your employees feedback. A recent report found that employees who receive recognition from management are 69% more likely to do better work, while 41% of employees have left a job because they didn’t feel like they were being listened to.

So, don’t forget about the basics. From a simple “thank you” when an employee does a job well, to a more formal system of recognition and feedback, like weekly line manager check-ins and performance reviews, creating a regular feedback loop is one of the most important employee appreciation initiatives you can implement.

Bonuses and rewards

Every employee has different motivations – and to ensure they feel appreciated, it’s important to understand what type of reward motivates them. For some people, feedback on their work is a great motivator, while others are more motivated by material rewards.

Consider offering bonuses where appropriate – for closing a huge deal, for example, or performance-based bonuses at the end of the financial year. Monthly or quarterly employee award ceremonies are also a great way of showing appreciation while showcasing the great work your employees are doing throughout the year.

Team getaways

Sometimes, you just need to get away from it all – and your team does too. Team getaways can be a fantastic way to reward your staff, while getting to know all of your colleagues outside of the office, too.

Here at Loop, we invite all of our Loopers to join us for a getaway twice a year. Our latest getaway was spent in wonderful Morocco, seeing the country from air in a hot air balloon, and on foot on a hike. On previous getaways, we’ve explored Iceland, Malta, Senegal and Lapland – all while getting to know our amazing colleagues better.

Annual parties

Team celebrations are important – especially if you have a hybrid or remote work model, where employees don’t get a huge amount of face-to-face time together. One of the best ways to ensure your annual party actually reflects what your employees want is to ask them. After all, a party isn’t for everyone, so your team may prefer a meal out, bowling, or even skydiving.

A quick pulse survey is a good way to get their feedback on the types of events they’d be interested in – as well as building momentum and excitement for the big event.

Early finishes

Flexible working is a brilliant way to show your employees that you care about them as a person, not just as an employee. By letting them work when they want and where they want, you’re showing that you trust them to get on with the job you hired them to do. 

You can take it one step further with early finishes on Fridays during the summer months – or as we call them here at Loop, “Live Fully Fridays”. During July and August, we give all of our employees Friday afternoons off to do whatever “live fully” means to them, whether that’s spending time with friends and family, going for a run, relaxing with a book, or taking the opportunity to get away for the weekend.

Little extras

Supplying your employees with little extras to make their lives easier is one way to help them feel more appreciated. Have you ever considered offering workplace wellness initiatives, like yoga classes? How about surprising the team with breakfast? Or supplying them with noise-reducing earplugs?

We offer a choice of Loop Earplugs, each of which excels in a different situation. Depending on your employees’ specific needs, our range of earplugs can make your employees feel calmer and more comfortable – at work, at home, and during social events:

  • Loop Experience are perfect for your office parties. They’re designed to reduce noise levels by up to 18 dB (SNR) and 7 dB (NRR), while keeping sound quality high – meaning they’re also perfect for employees who love to attend concerts, festivals and sporting events.
  • Loop Quiet are great for focus and uninterrupted work, offering 24 dB (SNR) of noise reduction, helping employees to get into their bubble. But they’re also ideal for reducing sound levels when trying to get to sleep, and for employees who are noise sensitive.
  • Loop Engage are ideal for use in the office, during events and meetings, as they take the edge off background noise while offering more clarity in conversations – making them a great choice for noise-sensitive employees. They can also be used outside of work, to reduce the noise of parenting, or to help the wearer feel more comfortable in social situations.

Loop Switch does it all, offering the convenience of 3 earplugs in 1, controlled by a single switch. That means your employees can switch from Experience to Quiet to Engage and back again, depending on the situation.

Showing your employees you care

Employee appreciation is one of the cornerstones of a thriving workplace culture – but it’s important to find the right initiatives for your employees and your business. From more regular feedback to the little extras like earplugs, the right employee appreciation initiatives can boost morale, improve productivity and even help to retain your staff.