You’re 5-minutes away from knowing how to prevent the #1 reason top employees quit.
I thought that the number one reason people quit was related to compensation. I was wrong! According to studies, the number one reason people leave is under-appreciation. They don’t feel appreciated by their boss. Ouch!
The Bad News
Psychologists have proven that the typical way we express appreciation in our culture doesn’t have the intended positive impact.
The Good News
Psychologists have figured out the form of appreciation that has the biggest positive impact, and I am going to teach you how to do it right now. It’s actually easy.
5 minutes from now you will know how to deliver gold standard appreciations which is the key to solving the #1 reason people quit.
Recruiting, onboarding, integrating, and then losing a hire is one of the most expensive setbacks a business can suffer. The cash and opportunity costs are enormous, as is the impact on the culture.
Understanding this is all the motivation you need to put in the extra effort it takes to master the art of constructing and delivering a gold-standard appreciation.
Providing your team with effective appreciation is easy, feels great, and costs nothing!
Here’s how to do it.
The first step is to understand the difference between recognition and appreciation.
Recognition: Positive feedback based on what was accomplished.
Appreciation: Positive feedback acknowledging their unique human qualities that enabled them to accomplish what they did. Appreciation may or may not include recognizing someone’s achievement. The term actually means “to recognize and enjoy” a person’s value or good qualities. It means showing respect and understanding, as well as gratitude.
With this information combined with my experience coaching startup executives since 2010, I have come up with a simple formula that will enable you to create what I call a gold standard appreciation.
How to create and deliver a gold standard appreciation
I’m going to use the Olympic medal system to make this easy to understand and remember.
A Bronze Medal Appreciation Example
Only recognize what they did.
“That was a great presentation, Jim.”
Delivered in private, this will not have an impact. Delivered in front of a team, it will have some impact.
A Silver Medal Appreciation Example
Recognize what they did and something about their unique human qualities that you appreciate.
“That was a great presentation, Jim. I’m impressed by your ability to simplify complex information without watering it down.”
Delivered in private, this will have an impact. Delivered in front of a team, it will have a significant impact.
A Gold Medal Appreciation Example
Recognize what they did and something about their unique human qualities that you appreciate. Then add how what they did was a contribution to you, the team, or the company goals.
“That was a great presentation, Jim. I’m impressed by your ability to simplify complex information without watering it down. Trusting you to do that frees me up to focus on closing the deal.
Or, if it didn’t impact you personally…
…As a result of your talent and effort the company was able to meet our quarterly goal.”
The more people you say this in front of, the more points you score. I think four people should be a minimum to win the Gold Medal appreciation award.
One more example
Bronze: “Thanks for showing up on time.”
Silver: “Thanks for showing up on time, I can always trust you to keep your agreements.” (Delivered in front of a couple of people.)
Gold: “Thanks for showing up on time, I can always trust you to keep your agreements. In fact, I’ve noticed that every meeting you are a part of tends to start on time. Thanks for being such a positive influence on our culture.”
Can you feel how delivering a Gold Medal appreciation delivers so much more impact than a Bronze Medal appreciation?
Michael’s Appreciation Prep Worksheet
Answering these questions about a person you want to appreciate will make it easy to construct a Gold Medal appreciation.
- Decide who you want to appreciate.
- List the human qualities that you admire about them. Ways of being, natural talents, and special personality traits.
- In what ways do “who they are” touch and inspire you to be a better person, teammate, leader, etc? List them out.
- List recent accomplishments that give you a reason to appreciate them.
- How did their accomplishment forward critical team or company goals
- How did it positively impact you?
- Construct your appreciation
- Plan a time to deliver it in front of people.
Michael’s Appreciation Formula:
What they accomplished + unique talent + Impact on you and or the company.
You are now ready to make someone feel wonderful and prevent the #1 reason people quit at the same time!
Let me know how it goes.
P.S. If you are interested in learning more about the power of appreciation, here are the resources I drew upon while creating this guide for you.
Expressing Appreciation: Kate MacAleavey TEDx
Why Appreciation Matters So Much
Harvard Business Review, Tony Schwartz
The Power of Appreciation, How Gratitude Can Change our Lives