By George Obst, Certified SCORE Mentor
One of the most powerful rules for successful entrepreneurs is “show appreciation” often and sincerely. Psychologists confirm that this single act can do more to foster great attitudes and this leads to better performance. In employee surveys, time and time again , over 50% of the respondents are dissatisfied with the recognition they receive. Appreciate everything your employees, suppliers and customers do for your business. Your successes result from a group effort.
The Power of Saying Thanks
As we celebrate Thanksgiving, it is a natural time to express our appreciation, not only to our families, but to employees, customers and suppliers for their support. Our thanks should not be delivered solely when it is expected on Thanksgiving or year-end. Thanks to the folks that help make a business successful should be given often and when it’s unexpected.
Saying thank you helps motivate employees, encourages suppliers to go the “extra mile” with their service and helps create loyalty among customers.
Entrepreneurs need to develop a culture of meaningful appreciation.
Spontaneous, sincere personal touches go a long way to acknowledging employee contributions. And, employee satisfaction is directly tied to customer satisfaction.
Don’t miss an opportunity to thank when thanks are merited. Put it in writing, be specific, be personal and be unexpected. “Old fashioned” personal notes are better than e mail or text messages. But e mails are better than not doing anything. Thank employees, vendors, and customers for specific actions that were positive and beneficial.
Companies that foster a climate of appreciation and reinforce it often, generally have lower employee turnover, higher customer retention, and more committed vendors
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About the Author:
George Obst is a Certified SCORE mentor with more than 30 years experience profitably managing and growing businesses, including start-ups, purchasing, financing and selling businesses.