Ready to embark on a journey that unlocks the true potential of your workforce with me, Kanupriya Manchanda? 

Let me begin by asking a question. 

Is your team highly motivated, deeply engaged, and consistently delivering exceptional results? 

With absolute confidence, I can say that mine is.  But I also know that it is not as easy to answer as it sounds. Managing people is complex, and the key to achieving this marvelous feat is a simple yet powerful concept: employee appreciation done right.

In my role as VP of People at InfoBeans, I have learned that employee appreciation is more than just a feel-good gesture. It is a strategic tool that drives employee satisfaction, loyalty, and productivity. As leaders and people in HR, it's crucial for us  to understand the significance of appreciating our employees and implementing effective strategies to recognize their contributions. 

In fact, I recently came across a survey by Glassdoor that says that 53% of employees would stay longer at a company if they felt appreciated. 

That’s more than half of the workforce!

With that in mind, here are some employee appreciation strategies that we have employed that will revolutionize your workplace culture.

1. Cultivating a sense of ownership

How can you empower your employees to take ownership of their work and drive your organization's success? I have found that cultivating a sense of ownership among employees is a transformative approach. It can strengthen the connection between employees and the organization and instill a deep commitment to achieving common goals. 

At InfoBeans, we believe in integrating Employee Stock Ownership Plans (ESOPs) as a powerful tool to foster this ownership mindset. By identifying top talent and offering them ESOPs, we create an elite club of Partners who share in the company's achievements. This not only reinforces our "People First" philosophy but also fuels a sense of passion, ownership, and alignment towards our organizational goals.

1. Peer recognition programs to create a culture of appreciation

There’s nothing better than peer-to-peer recognition to foster a culture of appreciation. Implementing peer recognition programs allows employees to acknowledge and appreciate their colleagues' efforts. This promotes a positive and supportive work environment, encourages collaboration, and boosts employee engagement.

I recently read that Zappos, a subsidiary of Amazon, runs a Coworker Bonus Program where employees can reward one another with a $50 coworker bonus. This is an amazing initiative. In my opinion, it’s a good idea to establish a platform or system where employees can easily recognize and celebrate each other's accomplishments. 

1. Going the extra mile to celebrate team excellence

Recognizing and celebrating the exceptional efforts of employees is a key driver of motivation and a thriving organizational culture. I have seen how going the extra mile to celebrate employees can not just boost morale but also foster a sense of camaraderie and create a positive work environment. This, in turn, drives higher employee engagement, strengthens loyalty, and attracts good talent. 

At InfoBeans, we take employee appreciation very seriously. In April 2022, we created a unique initiative called WOW Squad. This one-of-a-kind campaign included putting up hoardings of our team members around the city to recognize their stellar performance. I can personally testify that the response we got from our team members was overwhelmingly positive.

1. Showing personalized appreciation through tailored tokens of gratitude

The impact of personalized appreciation on your employees' happiness and loyalty cannot be underestimated. Many IT companies are embracing this strategy by offering personalized tokens of gratitude, such as handwritten thank-you notes, personalized gifts, or surprise team outings. These gestures create a sense of connection, show that individual contributions are valued, and strengthen the bond between employees and the organization.

1. Rewards and recognition that drive excellence

Implementing a rewards and recognition program is a powerful way to motivate employees. It encourages a healthy spirit of competition, fuels employee motivation, and boosts overall performance. This not only reinforces the value placed on employee contributions but also serves as a powerful retention tool. 

At InfoBeans, we conduct a monthly Rewards and Recognition (RnR) program that goes beyond mere words of appreciation. High-performing team members from each team receive certificates of recognition and monetary rewards. This serves as a tangible testament to their excellent work. This program not only boosts morale and motivation but also fosters a culture of excellence throughout the organization.

Employee appreciation: An ongoing commitment

By implementing employee appreciation strategies, you'll witness a significant increase in employee satisfaction, engagement, and retention. Employees who feel valued are more motivated, productive, and willing to go the extra mile for the organization’s success. 

I have mentioned the strategies we’ve employed in InfoBeans to illustrate our commitment to employee appreciation. I hope that they inspire you to create similar strategies within your organization.

So, as leaders, let's embrace the power of employee appreciation and transform our workplaces into thriving hubs of success, innovation, and joy!

Remember, employee appreciation is not a one-time event or a mere box to check; it is an ongoing commitment to recognize and celebrate the contributions of your most valuable asset—your employees.