Why Bill Gates loves employee appreciation so much?
Employees (Happy Employees) are the key to business success. Finding the talent required to achieve success in today’s competitive market isn’t easy. Once you get talented people in the door, how do you keep them? Truly appreciating your employee is the recipe.. but what does that really mean?
Employee appreciation can be broken down into two main categories:
1. Continuing education/training
2. Ongoing and recurrent recognition
As Richard Branson once said, “Train people well enough so they can leave, treat them well enough so they don’t want to.”
The first salient point is a simple one, you can ask why would I invest in someone who might leave the company? But the simple answer is, what happens if you don’t invest in the education of your employee and they stay at the company. Aside from the benefits of your employee being more competent, the fact that the company is willing to invest in that employee shows them that the company/management cares and believes in that employee. Believing in your employees and proving it through action will increase engagement and lower the probability of churn.
Point two – how do companies provide ongoing and recurrent recognition “employee appreciation”? Employee appreciation is another way of ensuring that the employees reach their potential. Constant feedback and open dialogue are almost always noted in exit surveys of items requested from employees. Bill Gates said “we all need people who will give us feedback. That’s how we improve.” The more feedback the better, and thankfully for HR managers, there are tools to help facilitate consistent feedback. Employee recognition platforms and pulse surveys are great ways to not only read into the current company sentiment but to consistently appreciate employees for the great work they do.
In conclusion, Bill Gates hits the nail on the head when he said: “I’m a great believer that any tool that enhances communication has profound effects in terms of how people can learn from each other, and how they can achieve the kind of freedoms that they’re interested in.”
Believe in your employees, appreciate your employees, invest in them and you will get results.