Team member appreciation in the workplace is something your company should be heavily investing in.

But do you know why?

While appreciation can look like a raise or bonus, studies actually show that money is only one of six appreciation tools team members find most memorable.

Besides money, the other tools listed in the study were personal satisfaction with work, promotion or increase in scope of work (demonstrates trust), obtaining a high level of achievement through evaluations, private appreciation from a boss, peer, or customer or client, and public appreciation via award, certificate, etc.

But what exactly is team member appreciation in the workplace?

Team member appreciation is when a manager or coworker praises the positive job performance of a team member, which can happen with verbal praise, monetary rewards, etc.

But that being said, appreciation in the workplace still needs to be significantly improved.

Statistics show that over half of current team members want more appreciation from their managers.

So, even if you think your team members are highly recognized, keep reading for a few additional ways to boost appreciation.

5 Languages of Appreciation

There are 5 languages of appreciation in the workplace that are important to consider when showing appreciation in the workplace. Each individual has a different language (or languages) that they prefer to utilize or receive. 

The 5 languages of appreciation are:

1. Words of Affirmation – Words only matter if they are specific. If you like the email that a team member sent, tell them why and highlight specifics from the email to support your point.
2. Quality Time – Set aside time to listen and be present with your team members. Ask questions to induce conversation and avoid interrupting them. 
3. Acts of Service – Actions speak louder than words. If someone shares how a process is broken, try to take steps to see if it can be changed. Or if they are overwhelmed, offer to take something off their plate.
4. Giving Gifts – This language of appreciation is about the fact that receiving something from someone means they were thinking about you, even if small. Be sure to tailor it to something relevant for them.
5. Appropriate Physical Touch – This one is a bit difficult at work, but things like high fives, fist bumps, and handshakes all fall under this category.

Why is Appreciation Important in the Workplace?

Appreciated Team Members are More Engaged and Productive

• Studies show that one of the top 10 drivers of engagement is appreciation, and the higher a company’s team member engagement, the more profitable the company seems to be, according to this Gallup poll.

Appreciated Team Members Stay at their Jobs Longer

• Team members are 56% less likely to be looking for a new job if they feel properly recognized, and the lower the churn rates for employees are, the more money companies save.

Appreciated Team Members Have Higher Morale

Studies show that appreciation in the workplace can improve the trust between team members and upper management, and high-trust organizations consistently rank higher in levels of productivity, collaboration, and retention, and lower in levels of chronic stress.

What is Effective Team Member Appreciation?

Like we said, giving appreciation to team members in the workplace can take many forms, but effective team member appreciation has a few key characteristics:

1. Recognizing and rewarding team members should be done consistently, not just when a goal is met
2. The best positive appreciation programs provide multiple ways for team members to be recognized.
3. Team members appreciation programs should be values-based.
4. Managers should encourage co-worker appreciation, which includes fostering an overall culture of appreciation.

How Do You Show Appreciation at Your firm?

Appreciation can happen in a few ways:

1. On a day-to-day basis between manager and team members, whether it be casual conversation, a weekly check-in meeting or feedback on a completed task.
2. Through performance reviews to recognize contribution and as well as invest in growth for the future. 
3. Public forms, such as company meetings and/or presentations, or through smaller gestures, such as sending the team flowers or bringing pizza into the office on a random Friday.

Team member appreciation in the workplace matters not only for the well-being of hardworking humans, but it also inspires harder work, increases retention, and leads to a better overall company culture.

Have any questions about how to boost engagement at your firm? Contact us today and let’s chat!

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