How A Culture Of Gratitude Can Increase Your Profit
Gratitude is a profound expression that we tend to associate with family, friends, partners,
and sometimes even strangers. But how often do you come across the words, ‘gratitude’ and
‘business’ in the same sentence?
Expressing gratitude lifts our emotional and physical well-being, improves work culture,
enhances an organization’s reputation, and builds employee morale. Unfortunately, the act of
simply saying thank you is deeply neglected at work.
Here’s how we can help! Check out these ways to cultivate a culture of gratitude.
Employees who feel valued for the hard work they put forth are more likely to stay longer
than employees who feel unappreciated. Gratitude isn’t a ‘one size fits all’ deal and differs
from person to person. Small gestures of gratitude, be it vocal, a card, a surprise package, an
appreciation badge or even a yearly bonus can help boost employee retention.
Employee attrition on the other hand is an extremely costly ordeal. Recruiting new employees
and training them can be time-consuming and results in monetary setbacks since talent
acquisition teams end up spending almost half the ex-employee’s yearly salary on training the
new joiners. So how do you go about fixing this?
Lead The Way
As a leader, it is in your hands to set the tone of the company. Gratitude can be contagious.
Employees who receive gratitude and appreciation from their Managers are most likely to
pass it on to their co-workers. A simple way to do this is to start weekly or monthly meetings
with a round of gratitude where each employee takes a turn to say something they are grateful for. In today’s generation, employees prioritize a positive work environment over fat paychecks
Involve Your Customers
Acquiring consumers is often a more expensive deal as compared to the effort it takes to
retain your existing audience. Gratitude helps here too! Customers who feel appreciated are
more likely to suggest your business to others, post positive reviews, and keep coming back
to you for the same service or commodity. A simple ‘Thank you’ on social media and
personalized messages on email regarding special programs or offers goes a long way in
retaining customer loyalty.
Go Beyond Small Talk
Last (but definitely not the least) a company’s success also depends upon the relationship it
maintains with its customers, investors, employees, business partners, and even vendors.
Positive relationships with them form a strong and stable framework for the business.
Gratitude expressed open-heartedly and frequently builds trust which is important for long-
lasting relationships. Instilling gratitude in a company is realistically quite simple - it can be
awkward at first but its long-term effects are immeasurable. So why not give it a shot?