6 ways to show appreciation for your team

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By Fay Sumner, head of talent, Capital on Tap

The success of any business depends on the hard work and dedication of its employees. Showing your team they’re valued will boost morale, motivation and productivity while also helping you attract (and keep) talent for years to come.

It’s important to note there isn’t a one-size-fits-all approach when it comes to showing employee appreciation – each person will prefer different styles of recognition. Employers should aim to understand each staff member on an individual level, so they can express their gratitude in a way that will make them feel the most appreciated. Here are six ways to do it…

1. Give regular shout-outs

It might sound simple, but people like to be praised. Make sure you’re regularly highlighting any particularly great work within your team. This could be in-person, for example during company-wide meetings, or on work channels such as Slack or Teams. You might also want to go public and express your gratitude on social media — just make sure your employees are happy being in the spotlight. 

Remember that recognition doesn’t always need to come from the leadership team. Almost half of workers (41 per cent) say they want to be recognised by their fellow colleagues, so encouraging peer-to-peer praise is another way to increase appreciation across the business. 

2. Invest in their growth 

Lots of people want to work for a company that they can grow with. In fact, 92 per cent of the UK workforce say they want employers to offer training opportunities and a clear career path that allows them to develop both professionally and personally.

You might want to enrol your employees on external training courses, send them to conferences, or even organise cross-team training opportunities so that they can learn from each other. 

Make sure your team has a say in their development, too. At Capital on Tap, we provide every employee with a £1,000 training budget that can be used to develop their skills and abilities in whichever way they see fit.

3. Organise regular socials

Hosting events and regular socials is not only a great way to show your appreciation, but it’s also a chance for team members to build relationships outside of work. According to a recent study, 70 per cent of employees say they would be happier if they had deeper connections with work colleagues.

Company events can mean a big ‘do’ such as an annual Christmas party. But it can also mean smaller socials like regular trips to the pub, dedicated team wellness days, or even just taking staff out to lunch every quarter. 

4. Reward their dedication and hard work with time off 

Everyone needs time to relax, and nothing says ‘I appreciate your hard work’ quite like giving workers some additional annual leave. So consider awarding staff more time to spend how they wish, such as between Christmas and New Year. You might even want to reward long service with additional holiday allowance.

At Capital on Tap we know how important a good work-life balance is. So, to thank our employees who have been with us for a while, we also offer four-week paid sabbatical every four years.

5. Remember the anniversaries

Job hopping is becoming more and more common, so make sure to recognise an employee’s dedication to your business by celebrating their work anniversaries. One way you can show your appreciation is to offer financial anniversary rewards, which is something we do at Capital on Tap, with an annual reward for every year someone stays with us.

6. Listen

Above all, employees want to feel listened to. Be sure to welcome their feedback, and make it known that your team can come to you at any time with questions, suggestions, or ideas. You might also want to organise regular employee surveys to gather feedback on what is going well and what might need improving in the business. It’s important that employees are able to continuously offer insights that can change your business for the better.

London-based finance company Capital on Tap offers a Business Credit Card specifically created for SMEs. Find out more here.