Recognition: The driving force behind outstanding results.

Who? Who? Kostas Sloukas.

Friday night, June 14, 2024

Panathinaikos just clinched the Greek Basketball Championship against Olympiacos, coming back from a 0-2 deficit. Just a few weeks earlier, they also took home the prestigious Euroleague title against Real Madrid.

?

The star of these glorious nights?

?

Kostas Sloukas, a player who, up until last year, was part of their eternal rival, Olympiacos.

?

Sloukas steps up to the press conference after the game and says:

"I want to sincerely thank the Angelopoulos brothers and Coach Bartzokas (presidents and coach of Olympiacos) for their arrogance, lack of respect, and disregard they showed me. They opened a door for me to Panathinaikos. I saw a hungry crowd that believed in me from day one. Believed in what I could do, what I could achieve. They supported me through tough times.

This year, I lived moments I hadn’t even dreamed of. The fans embraced me from the first moment; this is the greatest validation."

?

Monday afternoon, July 3, 2023

Kostas Sloukas walks out of Arcadia's offices after grinding through over 4 hours of talks with the Aggelopoulos brothers about renewing his deal with Olympiacos. The guy just came off a killer season, but the new contract had a catch—a €300,000 pay cut annually.

?

But it wasn't just about the money for Sloukas. He wanted a bigger role on the team, something he needed to discuss with the coach. The coach, though, wasn't there. Instead, he sent word through someone else saying there was nothing to talk about and that he'd see Sloukas at team prep as usual.

?

This kind of disrespect and lack of recognition opened the door for Panathinaikos to swoop in and lock down Sloukas. They gave him what he was missing—recognition, both in cash and in valuing his athletic and leadership skills, and his stellar career up to now.

?

In today’s world, where every business is fighting to find dedicated, high-performing talent, there's always going to be someone ready to take your best players if you don’t appreciate them first.

The Need for Recognition

Recognition is among the foremost needs of humankind. We are social creatures, deeply seeking the acceptance and appreciation of others. Without these, we cannot truly experience happiness.

?

We are born with this need. My son, not yet two years old, already comes forth emphatically declaring his deeds, seeking recognition for them. He delights in emphasizing that he did them alone. "By myself, by myself!" he exclaims.

?

This concept is relatively easy with one child, who usually basks in all the attention. But let us add more children to the equation. What happens then? What happens when you reward one more than the other? It may well be a source of tension.

?

Do you understand my point?

?

Let’s see what happens in the workplace...

Benchmark and Motivation: The Power of Recognition

The magnitude of recognition’s power is derived from comparing the acknowledgment we receive with that of those around us. Let's face it, we're inherently competitive beings!

?

Consider this: knowing whether our salary is higher or lower than someone doing the same job often matters more to us than the actual amount.

?

When a team leader praises one member more than another on a project they worked on together, the person who feels underappreciated is left to stew in their discontent.

?

Recognition is not just a benchmark; it’s a motivator. It fuels our drive to keep striving. When we receive it, we can charge ahead full throttle. When it's absent, we barely coast along, doing the bare minimum at a sluggish pace.

?

For a team leader, maintaining balance in this aspect is incredibly challenging. It's crucial to have objective evaluation criteria and establish strong communication with all team members to prevent negative situations.

?

Recognition doesn’t just come from the leader or the company. It can come from our colleagues, suppliers we work with, and of course, the customers we serve.

?

You know, when it comes to the internal dynamics of a company, an organization can really inspire its employees to show appreciation for one another in a variety of ways. A prime example of this is a gratitude board – sometimes you'll see it in the form of a tree – where everyone can record the nice things they notice about their colleagues on a daily basis. Now, not only does this increase job satisfaction because people feel their efforts are recognized, but it also has another benefit that I personally appreciate. It encourages everyone to look for the positives, to focus more on what’s working, to seek out solutions rather than getting bogged down by what’s going wrong. This, my friends, is an ingredient for happiness – both in and out of the workplace.

Someone said it, and I liked it.

Train people well enough so they can leave, treat them well enough so they don’t want to.

- Richard Branson

?

I want to touch on a common practice that many companies tend to follow. They have employees who perform exceptionally well, who give their all every single day, and the companies know they don't want to lose these stars. They even know that if these employees come forward saying they've found something better, the companies are willing to dig deep into their pockets to offer something extra.

?

However, until that moment arrives, they avoid making any moves to reward their staff's hard work and dedication. The company perceives it as a cost-saving measure until the capable employee decides to leave. At that point, they can make a counteroffer based on the true value of the employee.

?

But here's the kicker: this kind of approach can lead to disastrous chain reactions. We're talking about plummeting productivity, mass resignations, and severely damaged relationships and collaboration among employees. Ιt’s a recipe for disaster.

?

Picture this: Someone announces they’re leaving, and as a counter-offer, they get the raise they deserve. Meanwhile, equally talented folks stay on the same salary. As we’ve said before, recognition’s power comes from the comparison with how those around us are recognized. This creates an instant imbalance. Now, if you’re one of the undervalued ones, you’re asked daily to work alongside people who might contribute less but earn more. You can imagine how that feels. It’s no surprise that companies practicing this often face waves of departures and dissatisfaction.

?

If you want to run a thriving business, you’ve got to value your team consistently and proactively. Recognize their efforts, reward their dedication before they feel undervalued, and you'll see your company flourish with loyalty, innovation, and outstanding performance.

Question for you:

What methods of recognition do you use or would you like to see in your workplace to enhance the sense of appreciation and encouragement among colleagues?

Share your experiences or ideas in the comments!

?

If you believe that this newsletter can benefit others, share it.

If you want to work together to increase the happiness levels of your workforce, send me a DM and let's chat.

?

Here's to the countless smiles ahead!

?

Giannis Metoikidis

Work Happiness Trainer

?

#workplacehappiness #recognition #gratitude #appreciation #Sloukas #Panathinaikos #Olympiakos #Euroleague #basketball #RegBal #400smiles