Building a culture of appreciation in your workplace

Employee Appreciation Day is right around the corner. Observed on March 1 this year, the day provides a unique opportunity for company leaders to show their employees the immense value they bring to their organization.

But how can employers show appreciation for their employees daily? The answer comes from improving company culture and building one truly centered around your employees’ value.

Investing in a strategic and thoughtful benefits package for your workforce can lead to a positive work environment and engaged workforce, ultimately benefiting both employees and employers.

Don’t understate the significance of company culture

Company culture is a critical aspect of any business because it shapes an employee’s work environment and influences employee behavior. Ultimately, a vibrant culture can significantly impact various aspects of your business, including maximizing employee productivity and overall profitability. There are several key elements that business owners can implement to improve company culture, build a culture of appreciation, and create a more inspiring workplace for its employees:

1. The importance of showing employee recognition and appreciation: Don’t just focus on March 1. Regularly recognizing and showing genuine appreciation to employees for their contributions goes a long way. This can be achieved in multiple ways, including formal recognition programs, surprise and delight events for teams, or simple gestures of gratitude or reward.
2. Employee financial wellness: Help employers manage their finances. Benefits such as student loan repayment programs and financial counseling can support employees’ economic wellbeing. In addition, supporting employees outside of traditional benefits such as 401(k) retirement savings plans provides valuable resources to improve employees’ financial stability.
3. Variety of voluntary benefits: Voluntary benefits can include personal insurance policies like pet, travel, car, and homeowners’ insurance, with a discount for enrolling in coverage. In fact, 69% of employees rank pet insurance as the most significant voluntary benefit an organization can offer.

   When the financial landscape shifts, voluntary benefits offer a cost-effective means for employers to enhance their appeal and retain valuable talent. By providing a range of these benefits, employers can demonstrate their commitment to their employees’ personal and financial wellbeing and establish themselves as preferred employers in a competitive market.

4. Consider an increase of non-health care offerings: Many employers have historically offered health and wellness benefits to complement their employees’ health insurance coverage. However, younger employees are future-focused and will look to work for companies that provide expanded non-health care offerings like paid maternity leave, child and elder support, and additional PTO.
5. Work/life balance is key: Flexible scheduling is an easy way to align with your employees’ lifestyle! A hybrid work environment or shortened work weeks are just a few ways to address the work/life balance of your employees, which can lead to greater productivity overall.
6. Diversity, equality, inclusion and accessibility initiatives: Work to create an inclusive environment where diversity is celebrated and every employee feels valued and respected. Creating an inclusive environment can ensure all employee perspectives are brought to the table. This creates a more welcoming culture where employees feel comfortable expressing their viewpoints and are emotionally invested in the organization.

   Remember the importance of providing employee benefits that are thoughtful and applicable to the needs of your ENTIRE workforce.

7. Help employees grow through professional development opportunities: Provide opportunities for employees to hone their skills, develop new ones, and apply them to career growth within the company. Investing in employee growth shows that the company values their development.

Related: The workplace wellness ins & outs of 2024

Remember that building a culture of appreciation is an ongoing process

Improving culture will always be an ongoing initiative for your company that requires consistent effort and passion from company leaders. The needs and desires of employees are constantly changing and evolving. To continue improving, it is essential to regularly seek employee feedback and make necessary adjustments based on their input. Employees are grateful when they feel their voices can be heard and that they can make a change for the better.

By focusing on these elements, business owners can create a workplace environment where the workforce is motivated to succeed.

Cheri Wheeler, Vice President and Senior Consultant, Kelly Benefits Strategies