Do you ever wonder what is the best way to show your appreciation to loyal clients and employees? Sometimes a pat on the back is just what’s needed, but other forms of appreciation in the workplace and in business are generally very well received. You may not make a lot of new customers by investing in your current clients and employees, but you’ll earn more respect, loyalty, and reciprocal appreciation, which can result in lower client attrition rates, higher job satisfaction among employees, and lower job turnover in the years ahead. Here are some of the top ways that business owners can show appreciation for loyalty and hard work to all they interact with.
5 Ways to Show Appreciation to Loyal Clients and Employees
Give Your Time
Have you ever felt so busy as a business owner that you don’t feel like you have time to tie your own shoes, let alone listen to the custodian’s complaints, or the copywriter’s hare-brained marketing ideas? The busier you are, the more it means when you give your time to others. Every once in a while, a listening ear is all people really need to reaffirm that they’re working for an amazing company or that they’ve partnered with the best in the industry. Do executives realize how hard the engineers have been working to meet deadlines? Does your online marketing agency understand how much new business means to you as a company? Sometimes, a listening ear is like magic.
Gifts
Some business owners say, why should I give my employees a new book or a gold watch? I’m already giving them a generous salary. In truth, you are compensating your employees for their time. You may be giving them a very generous salary with benefits galore and all the bells and whistles, but technically giving someone a gift implies that you aren’t expecting something in return. You are expecting your employees to be there when you need them. This is a reciprocal business relationship, but it isn’t the same as a gift. Giving gifts is a long-standing way of showing appreciation to clients and employees. Studies show that employees experience a spike in loyalty to their employer when they’re on the receiving end of a gift, whether it’s a cruise package or a new laptop bag.
Words of Appreciation
If you want to reward loyal employees and clients, you can’t leave out the power of words of appreciation. This is a free gift that shows you appreciate their loyalty. Sharing words of appreciation in front of a small group (such as, in front of a few of their fellow team members) can help employees feel appreciated and can help foster a culture of kindness, respect, and appreciation in the workplace.
Travel
The cost of travel often prohibits many would-be globe wanders from ever pursuing their dreams. Giving employees the chance to travel for work conferences, corporate events, management meetings, and retreats is an effective way to show appreciation. If you want to take it up a notch, skip the fancy holiday gifts or the cash bonuses and give out a few vacation packages for two and let your most loyal employees see the world with a friend or significant other. When they come back, they’ll bring a host of insight and energy into their work.
A New Office
Do you have executives or other team members who work remotely, either while they’re out of town or on a daily basis? Consider paying for serviced offices for the team, or co-working or shared office space when employees are working away from the main office. A prestigious office is an excellent way to show your appreciation to loyal clients and employees. At CEO SUITE, you can rent designer office space in many of Asia’s Central Business Districts. Contact us today to reserve a spot for your next work day.