March 11, 2024 Employee Appreciation: Showing Companies Care Year Round

Integrate gratitude for team members as a regular part of company culture to ensure a happy, motivated and loyal workforce.

Employee Appreciation Day, which falls on the first Friday of March each year, annually recognizes and celebrates the hard work and dedication of employees, regardless of position, location or tenure. Likely many companies across the U.S. honored their teams in some way, and studies have shown that doing so certainly has its benefits.

Employees who feel their employer recognizes their hard work and cares about their wellbeing are 69% less likely to actively search for a job — and five times more likely to advocate for their company as a place to work, according to Gallup. Additionally, according to NectarHR, organizations with strong recognition programs have a 31% lower voluntary turnover rate compared to those with poor recognition efforts. 69% of employees also say they would work harder if they felt their efforts were better appreciated. Ultimately, companies can create a more motivated and loyal workforce by demonstrating staff appreciation, which will contribute to overall organizational success.  

Companies tend to celebrate Employee Appreciation Day, specifically, in ways unique to the values and culture of each. This can range from simple, personalized thank-you notes to the coordination of a team meal. Some may offer a unique professional development opportunity or host health and wellness activities companywide. Others might even surprise staff with additional PTO or a one-time bonus.

Employee Appreciation Day is indeed a good moment in time to show that companies care, but what about the rest of the year? Those truly valuing a retention culture should consider integrating employee appreciation as a regular part of their business operations and culture.

Retention rates are reportedly 41% higher in companies that implement regular employee recognition programs, while 40% of employed Americans say they would put more energy into their work if they were recognized more often. And underscoring the crucial role of management in fostering a culture of appreciation, a striking 58% of employees believe that leaders could drive more engagement by giving recognition.

Should these stats persuade company leaders — and for those leaders to adapt their internal processes while ensuring ongoing appreciation efforts avoid being both taxing on planning and departmental budgets — consider launching meaningful initiatives as evergreen gratitude solutions. Create, brand and launch a formal employee recognition program, declare one day per week a “no meeting” workday in an interesting way, establish a more team-centric culture of volunteer participation for regular community service opportunities.

As another, more widescale option, launching an employee relief fund can be a powerful way to show employees that their well-being is valued beyond the workplace. According to a recent SoFi report, one in four employees say financial stress lowers their productivity. Offering financial assistance — like through a disaster and hardship relief fund — can ultimately help improve organizational morale and performance if facing unexpected hardships, such as medical emergencies or effects from natural disasters. It also enables team members to donate to their colleagues in need, helping to foster a sense of community and solidarity among employees and demonstrating from the top-down that those employees are deeply appreciated in and outside of the office.

Launching a relief fund as part of your ongoing employee appreciation efforts can have several benefits. It can provide needed financial aid for employees struggling through a disaster or personal hardship, giving them breathing room while they rebuild and recover. It also demonstrates genuine concern for employees’ well-being, thereby enhancing loyalty and commitment to the company. A relief fund also contributes to a culture of empathy and compassion, which can help to attract and retain top talent, playing a key role in enhancing company culture.

In a recent survey drawn from responses from 100 HR, people management and workforce leaders across the U.S. and Canada, the most significant impacts caused by disasters and personal hardships are impacts on job performance (63%) and mental health and wellbeing (61%). When asked to share how the aid they received from relief funds have personally impacted their lives, grant recipients reported feeling more positively toward their employers (77%), feeling less stressed or worried overall (76%), that they had some breathing room to consider their next steps, and being more able to focus on work (50%). This data shows that relief funds can effectively provide aid to those struggling and demonstrate employee appreciation year-round.

Ultimately, companies should consider the unique needs of their specific teams when planning these meaningful initiatives to ensure they resonate with employees. With thoughtful intention, company leaders can help to create an impactful strategy that reinforces a positive company culture and strengthens employee engagement.

Always remember that employee appreciation should not be limited to just one day a year. Make this a regular part of your company’s culture to ensure a happy, motivated and loyal workforce. Regardless of what an organization chooses to do, the effort put in will make a real difference.

About the Author:
Douglas (Doug) Stockham co-founded Emergency Assistance Foundation (EAF) – a 501(c)(3) public non-profit – in 2011 to help companies take care of their team members in need. More than a decade later, EAF administers over 350 disaster and hardship relief funds in partnership with well-known sponsoring organizations on a global scale. As a low-cost, third-party administrator, EAF independently administers all fund activities —including accepting donations, objectively reviewing grant applications, and awarding and distributing grants — while also maintaining legal and regulatory compliance. In the last three years combined, EAF awarded over $205 million in financial assistance to more than 295,000 individuals and families in need around the world.

Bringing his entrepreneurial spirit to EAF, Doug created an organization that remains agile and adaptable by harnessing technology, developing scalable platforms and procedures, and constantly evaluating and improving processes. He has positioned EAF to successfully respond to large scale disasters – including devastating hurricanes Harvey, Irma, and Maria in 2017, the global COVID-19 pandemic in 2020, and today’s ongoing conflict in Ukraine – ensuring that financial assistance reaches those in need no matter the location or obstacle.

Doug earned a Bachelor of Arts degree from Vanderbilt University and a Master of Business Administration degree in finance from The Wharton School at the University of Pennsylvania

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