Compliments make as happy as gifts of money
This conclusion was drawn from a study by the Harvard Business School. Employees are more engaged and motivated when they receive recognition for their work.
And aiming for a happy workforce isn’t just an act of pure humanity, its benefits are actually measurable for businesses: Highly motivated employees earn profits, that are 26% increased (according to an ADP study).
A little “thank you” or some words of praise can actually change a lot A study conducted by the Goethe University in Frankfurt/Germany goes one step further and shows, that recognition lowers the risk of a burnout.
Another big factor is freedom of choice. Motivated employees need room for maneuver. A certain freedom lets them learn, develop and juggle multiple tasks more dynamically.
A prime example is flextime, that grants workers the choice when and where to work and therefore improves the work-life balance.
The bottom line is, that it”s not the reign of terror and fear, that makes for a competitive company. It’s respect and trust that creates productive employees. Every forward-looking company, that wants to reduce fluctuation of employees and instead attract a loyal workforce might want to consider this.