With the unbelievably competitive job market, the new wave in attracting and retaining employees is all about perks. From bringing your dogs to work to monthly free massages to lavish holiday parties, employers are trying to woo and wow.
Then, there’s the money. Employers are trying to outbid each other to fill their roster.
“While almost every employer is grappling with a labor shortage, one of the underlying causes is, in fact, an appreciation shortage,” says Richard Hadden, a leadership consultant at Contented Cow Partners. “Those of us who study employee retention have long said, ‘It’s not just the money.’”
So, what is it about? In the past three years, Hadden has polled thousands of people about how they wished to be thanked and honored at their job. See the results in the chart.
“While saying thanks is no substitute for monetary compensation, it is a valuable supplement,” Hadden says.
A sincere thank you doesn’t have to be expensive, Hadden says. He provides these ideas:
- Handwritten thank you notes. They are easy, cheap and provide a huge value.
- Personalized gifts. This could be a gift card to one of their favorite restaurants, tickets to see their top team or a donation to the organization where they volunteer.
- Celebration of a big win. Honor the employee who led the charge on a big project or had a new idea for the farm.
- Surprise time off. Use the seasonality of your business to give time off when the work is not as urgent. Or announce an extra day or half day off around a holiday.
- A boss car wash. Pick a Friday where you and any others on the leadership team wash all the employees’ vehicles.
CULTURE OF THANKS
Your goal, Hadden says, is to commit yourself to establishing a culture of thanks on your farm. Try out a few of these ideas during this season of Thanksgiving. And, as always, thank you for reading.
How do you like to be thanked for a job well done?
