In This Post:
Presenters:
Peter Crahan
US Channel and Partnership Director
Retaining and engaging employees is a top priority for unlocking employee potential in today’s competitive workforce. Research consistently shows that appreciation is more than just a nice-to-have. It’s a transformative driver of performance and workplace satisfaction. So, what happens when employees truly feel valued?
We welcomed Peter Crahan, the US Channel and Partnership Director at Reward Gateway, to our “Meet a Vendor” webinar series to share valuable insights on maximizing employee appreciation to support, connect with, and retain staff. Peter’s presentation helped us better understand WHY this topic matters and HOW we can implement effective solutions.
About Reward Gateway | Edenred
Reward Gateway | Edenred proudly supports over 10 million employees in fostering workplace connection, appreciation, and support. Their all-in-one employee engagement hub is designed with exceptional features, including recognition, rewards, surveys, benefits, and discounts, all focused on enhancing employee wellbeing. This commitment ultimately strengthens talent acquisition, retention, and value-driven growth.
The Appreciation Effect: A Powerful Catalyst
How do we convince organizations that the power of appreciation is important when choosing the right engagement programs unique to the business? The key is to celebrate employees as individuals – not just for the work they do. And making it easy to recognize and appreciate employees!
Today, businesses face various challenges, including:
- Managing the diverse demands of multiple generations in the workforce.
- Navigating tighter budgets that are becoming increasingly common.
- Responding to more educated customers and employees who are selective about their business choices.
- Attracting top talent in a competitive job market.
Conducting research over the past year, Reward Gateway uncovered compelling statistics highlighting the profound impact of creating an environment where recognition is embedded in the organizational culture.
The results speak for themselves:
- Employees are 43% more effective when recognized and valued and enjoy better mental wellbeing. With recognition alone, employees are only 23% more effective.
- 78% of those contemplating leaving their jobs would reconsider with more consistent recognition.
- A culture of appreciation boosts workplace wellbeing for 69% of employees and is considered as impactful as a 10% pay raise by 68%.
Understanding between recognition and appreciation
Recognition typically applies to specific actions or achievements. For instance:
“Excellent work on that proposal! You completed it so quickly, and it helps us all.”
Appreciation, in contrast, encompasses a broader and more personal perspective, highlighting an individual’s character. For example, when a person recognizes an employee for his positive energy despite the difficulties and challenges on that task. Peter once had the privilege of a leader who recognized his talent for fostering a positive work atmosphere, even amidst challenges. This experience beautifully exemplifies the profound impact of genuine appreciation.
When we receive appreciation, our brain releases three feel-good chemicals – dopamine, serotonin and oxytocin. These chemicals are responsible for making us feel motivated, happy and safe to create connections with others Appreciation is the gift that keeps on giving, not only to the receiver – but to the sender as well.
The Drivers of Appreciation
Building a culture of appreciation starts with understanding what employees value most. Globally, employees thrive when:
- Managers actively support and recognize them.
- Their hard work is rewarded.
- They feel a sense of belonging.
- Organizations regularly praise their contributions.
Recognizing the need for employee appreciation to be strategic and streamlined, companies like Reward Gateway | Edenred provide centralized platforms that integrate recognition, well being, rewards, and communication tools. These platforms enable organizations to:
- Boost Engagement: Tools like eCards, social walls, and peer nominations make recognition easy and meaningful.
- Support Wellbeing: From virtual challenges to community chats, well being initiatives address mental, physical, and financial health.
- Provide Rewards: Employees can redeem rewards through eGift cards, custom options, or even charitable donations.
A closer look at The Appreciation Index reveals industry and demographic trends:
- Technology and financial services sectors lead in appreciation, scoring 69 and 68,
- Tenure matters: employees with 10+ years in an organization often feel less appreciated than newer hires.
- Smaller organizations excel at fostering appreciation, while larger ones face challenges.
Why It Matters
Appreciation goes beyond a thank-you; it’s a cornerstone of employee satisfaction, retention, and productivity. Whether through regular recognition, tailored rewards, or holistic wellbeing programs, fostering a culture of appreciation transforms workplaces and unlocks the full potential of every employee.
Get in touch with Reward Gateway today!
Ready to strengthen your client’s organization’s culture? Start by asking one simple question: “How do you feel recognized and appreciated at work?” Their answers might surprise you – and pave the way for impactful change.
For more information, contact:
Peter Crahan – peter.crahan@rewardgateway.com
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