Boosting Productivity Through Employee Appreciation

In today’s workplace culture, staff needs to know they matter and that they make a difference. Every member of a company wants their voice to be heard and more importantly, want their work and their presence to be valued. It can be a challenge to make everyone on the team feel appreciated, especially in larger teams, as everyone has their own way of feeling appreciated.

Why it Matters: By learning about the different ways you can show appreciation for others, you not only improve your employee’s confidence, but make for a more efficient credit team.

By the numbers: According to a 2023 Snappy Workforce study, 80.5% of American workers report they feel their contributions at work are recognized. 20.4% shared that they very rarely or never feel appreciated at work. “The people whom workers are most eager to seek appreciation and recognition from include their direct manager or supervisor (47.7%), their company CEO (17%), their peers (16.5%) and team members they directly manage (14%),” the report reads.

What credit managers are saying: Employees who feel like they’re valued are more engaged, more productive and more likely to stay long-term, said Rita Milano, CBA, district credit manager at Hajoca Corporation (Baton Rouge, LA). “The ultimate benefit to employees feeling valued is their ability and eagerness to not only get the job done, but to go above and beyond,” she said. “Valued employees bring new ideas to the table, driving innovation in the credit department. They also have trust in their employer leading to less stress, less anxiety and more confidence in their job.”

All employees want to feel valued, but each generation in the workplace needs to be shown appreciation differently. According to the Snappy Workforce report, when it comes to daily motivation for American employees, 1 in 3 (30.4%) surveyed report money and compensation as their top motivating factors. The generations who were all over-indexed on money as their primary motivator were:

• 33.2% of GenZ, often called Zoomers, ranging in age from 18-24
• 35.6% of GenX, ranging in age from 45-54
• 33.3% of Baby Boomers, aged 55+

Although these statistics are helpful, not every member of each generation will appreciate a single form of appreciation. You must still understand how your employees like to feel appreciation—whether that’s public recognition, private recognition or constant feedback. “Once you understand what matters to them, you can make more of an impact,” said Erica White, CCE, regional credit manager at Ferguson Enterprises LLC (Addison, IL). “If an employee is primarily motivated by increased compensation or title, make sure they understand where they are on that path, what is available to them and what they need to work today. I’m also big on birthday recognition and taking the time to say thank you for a job well done. It’s amazing how a simple thank you can go miles.”

Sometimes helping employees see the impact of their work makes them feel like they matter. Harvard-trained psychiatrist Gabriella Kellerman suggests that managers use a “Mattering Map,” a map of concentric circles, where managers can show the ripple effects that each employee’s work has in the organization and beyond. “The manager should reach out to people in each of these circles to get stories about their work outcomes and how they use the work done by that specific employee or team,” Kellerman told CNBC.

Showing appreciation to remote employees needs to be consistent with in-person team members. “There already tends to be friction between employees that come into the office on a daily basis versus those who get to work from home,” said George Demakis, credit manager at Scafco Corporation (Spokane, WA). “I communicate regularly with the one remote employee that I do have and give her the freedom to work from wherever she happens to be at the time. She appreciates this freedom and flexibility and I believe that keeps her engaged.”

An employee who feels unappreciated, unseen or unheard will not produce the same results as an employee who feels valued, said Kyle Kern, AR specialist at Outdoor Research (Seattle, WA). “The more support an individual feels, the more output they’re willing to produce. It’s in the best interest of the employer to listen to the needs of their employees.”

“I believe the pandemic has taught us that acquiring and maintaining talent has gotten increasingly harder as people re-evaluate their wants and needs,” Kern added. “Potential employees have gotten bolder in expressing their requirements in a job and as an employer it’s our time to listen and adjust where possible. Being willing to meet, or at least move closer to where the employees are at this time is the best chance of a win-win outcome and the employee will be happier.”