What is The Appreciation Advantage, and Why Does It Matter?

The IGFY Newsletter is now in its second month!?? I’m thrilled that YOU’VE joined us for this weekly time of connection.?

Last month, I made a couple of promises: first, I aspire to make the IGFY Newsletter actionable. We do that by extending you an invitation to take action in every edition. There’s something amazing about invitations — YOU have the power to say YES or NO. When we extend genuine and gracious invitations, both responses are equally valuable.?

In the second edition, I promised to unpack the newsletter’s subtitle: Seizing The Appreciation Advantage. It’s going to take us the month of July to do that…one edition at a time. And, YOU have an amazing opportunity to take action EVERY SINGLE DAY in July — I’m getting ahead of myself.?

Seizing The Appreciation Advantage is a decision you make and a course of action you pursue. The rewards are great for leaders who make that decision and act on it daily.?

Defining The Appreciation Advantage

The Appreciation Advantage is the secret ingredient for creating a positive, productive, and thriving workplace culture. It's the practice of recognizing and appreciating the unique contributions of each team member and fostering a culture where everyone feels seen, heard, valued, and respected.?

The Appreciation Advantage goes beyond just saying "thank you" – it's about building meaningful relationships, promoting well-being, driving business success, and fostering a culture of gratitude. With The Appreciation Advantage, leaders can transform their workplace culture, increase employee engagement, and create a sustainable competitive advantage in today's fast-paced business environment.

The Appreciation Advantage is possible because expressing gratitude and appreciation are fundamental human needs. Remember that quote shared in the second edition?

The deepest principle in human nature is the craving to be appreciated. -William James

?People want to feel valued, respected, and appreciated for who they are and what they contribute.

Research shows that recognizing and appreciating employees has a powerful impact on their well-being and performance. It increases engagement, improves morale, reduces turnover, and fosters a positive, productive workplace culture.?

The Appreciation Advantage is a sustainable, impactful way to drive business success because it focuses on the human aspects of work and meets the fundamental need for recognition and appreciation.

By making appreciation a priority, leaders can tap into the natural human desire to feel valued and create a workplace culture where everyone can flourish.

Perhaps, the real reason why The Appreciation Advantage is so powerful…is that it is rare.?

The Appreciation Gap

If you’ve not activated The Appreciation Advantage, what do you have in its place?

What most employees experience could be described as the Appreciation Gap. The Appreciation Gap is the gap (or gulf) between the level of appreciation employees want and the amount they feel they receive.

Please realize the leaders in those companies don’t think of this as a gap.?

Many of them think they do a great job providing recognition. In one study, 80% of managers think they provide appropriate recognition while only 40% of the employees felt they received appropriate recognition (EBN).

A recent Gallup found:

Only one in three workers in the U.S. strongly agree that they received recognition or praise for doing good work in the past seven days. At any given company, it's not uncommon for employees to feel that their best efforts are routinely ignored.

And what happens when employees feel their best efforts are routinely ignored? They hold back. They slack off. Or worse, they start looking for other opportunities.?

What happens when they do that?

Oh, productivity declines. Absenteeism increases. As does turnover. When that happens, it’s accompanied by decreased profitability.?

Two Sides of the Same Coin

There are two issues that plague and perplex C-suite leaders in almost every business.?

• The Unexpected Departure of Top Talent.
• The Unexplained Disengagement of People and Teams Who Were Top Performers.

In many boardrooms around the world, leaders are wondering why key employees leave or why former superstars have lost their shine.

However, there’s a different conversation taking place around the water cooler (or wherever those conversations now occur). Your employees are wondering

Why don’t our leaders value or appreciate us like they used to? Or, if you're losing key employees to a competitor, why don't our leaders value US the way their leaders value THEM?

Remember, the Appreciation Gap occurs when your employees feel they deserve more appreciation than they receive.?

It’s their perception and perspective that matter.?

Start Seizing The Appreciation Advantage

Let’s get you and your leaders Seizing The Appreciation Advantage.

As leaders, you set the tone and the pace.?

Your attitudes and behaviors toward employees can either create an appreciation gap or an appreciation advantage.

To gain The Appreciation Advantage, leaders must start demonstrating appreciation.

It starts by walking the walk and talking the talk. Gratitude and appreciation start at the top and cascade through the organization. You make expressing thanks, appreciation, and gratitude a common practice.

As those you lead have their cups filled, there’s an overflow of appreciation and gratitude to others. Soon, it becomes “the way we do things here.”

Here are a few benefits and dividends of The Appreciation Advantage you might enjoy:

• A Glassdoor study found 81% of employees who feel appreciated are motivated to work harder and are more engaged.?
• According to a study by Aon Hewitt, companies with a high level of employee engagement had 22% higher productivity and 27% higher profitability than companies with low employee engagement.
• A study by Bersin & Associates found that companies with a recognition-rich culture had 31% lower voluntary turnover rates than companies with no recognition program.

Today’s Invitation?

Fortunately for you, if you want to tap into The Appreciation Advantage, we’re helping you do that every day in July as part of Don’t Wait To Thank Month.

Join our global community of people committing to express thanks, appreciation, or gratitude to at least one person every day in July. Join DWTT on Substack to receive daily reminders and improve your ability to express gratitude, integrating it into your life and leadership.?

Why not PAUSE right now and think of someone you consider a key contributor or top performer?

Send them a message acknowledging and appreciating them for who they are and what they contribute that you appreciate. If you need some helpful hints, revisit editions 2, 3, and 4 where I shared practical pointers for expressing gratitude in ways that are Simple + Sincere + Specific resulting in Significant encounters.

If you want help for you and your team, ask me about hosting a Gratitude Blitz for your team or company. A Gratitude Blitz is a sprint that helps leaders express their appreciation and gratitude every day. We gamify it and make it fun…the results are serious and significant. It’s a great next step to incorporating gratitude into your leadership and culture.?

Join us next week, as we dive into our three-part framework to help you Seize The Appreciation Advantage.