The Business Case for Practicing Gratitude Part II: Business Benefits

Last newsletter, we talked about how to begin practicing gratitude. Like any practice, the key to success is consistency. To develop this consistency,  regularly sharing your gratitude with others—and taking action based on your gratitude—can take you to the next level. Today we focus on why it makes good business sense to act on your gratitude.

Let’s start with your goals:

  • You have loyal clients and customers, and you want them to remain committed to your brand.
  • You have referral sources that have helped you build your business, and you want them to continue to do so.
  • You have a dependable workforce, and you want them to feel appreciated and valued.

Let’s take your workforce. What could be more essential to your business than those who get the job done day in and day out? Your team is central to your success.

So, how does gratitude play in? Expressing gratitude bolsters your employees’ morale. As discussed in the Graziadio Business Review, in the workplace, “gratitude may positively impact such factors as job satisfaction, loyalty, and citizenship behavior, while reducing employee turnover and increasing organizational and productivity.” Satisfied, loyal employees will form a qualitatively better work environment. Quantitatively, you will have less attrition and better performance—both critical needs in today’s tight labor market.

The risk of not expressing your gratitude is that your team may never realize how much you value them. As a result, you may miss out on  developing a deeper degree of cohesion in your company.

When it comes to business strategy, actively expressing gratitude regularly should be a no-brainer. It’s a perfect fit for those who are customer obsessed and always striving to keep loyal customers coming back. Why? Because a team that experiences gratitude is more likely to pass on that joy and appreciation to your customers.

In short, if you are obsessed with customer satisfaction, we think it’s a great idea to be obsessed with your employees too, as they form one of the most fundamental elements of your business success. This approach fits with a trend we have noticed among our own clients to show appreciation to their employees on a regular basis.  

In the near future, we will share with you a series of strategies our clients and other business owners use to show gratitude to their teams.

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