Great job!’ When was the last time someone said that to you? Bet it made you feel good! As Friday, March 6 is Employee Appreciation Day, a chance for employers to recognize employees for the hard work they’ve done throughout the year, we look at the benefits that employee appreciation brings – for both employees and employers.
We all know what a difference it makes when a boss or colleague recognizes and appreciates our efforts at work, from a simple ‘thank you’ for staying late to meet a deadline, to formal recognition through an increase in scope of work or responsibility. Research has shown that being appreciated increases our morale, motivation and job satisfaction. But appreciating employees isn't just about being nice, it brings benefits for employers themselves.
For example, according to Shawn Anchor, author of The Happiness Advantage, ‘the single greatest advantage in the modern economy is a happy and engaged workforce’. His decade-long research concluded that happiness increased sales by 37 percent and productivity by 31 percent, while according to Gallup research, the main reason why employees leave their jobs is lack of recognition.
But despite the statistics, employees aren’t recognized enough. A recent poll revealed that 65 percent of employees haven’t received any form of recognition for good work in the last year! No wonder that 51 percent of the employees polled said they were unsatisfied with their job.
At New York Life, employee appreciation is not just for one day a year, but every day. We recognize --and reward--the achievements and contributions of our talented employees who work so hard to make a big difference in people's lives--to their colleagues, to their communities and to our customers. Like customer service champion Sunshine Figlio, and so many of our employees who go that extra mile every day.
We recognize our employees’ talent and help them achieve their career goals. We back them with unyielding support, development, and resources. Take our Internal Mobility Program (IMP), which has helped employees interested in proactively guiding their own career paths by providing career counseling and coaching sessions on activities like writing resumés, and interviewing skills. Early this year, the IMP celebrated its 100th internal hire. In fact, as of February 2020 we've had 750 inquiries into the IMP, 311 employees have participated in 41 development workshops, and 115 participants have been hired into new roles as a result.
The training opportunity provided by schemes such as the IMP is just one of the many great reasons to work at New York Life. There’s also company stability, a comprehensive benefits package, and the potential for professional growth for talented employees who want to progress in their careers. At New York Life, we appreciate our employees. Every day.
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