by Jason Richmond, CEO and Chief Culture Officer at Ideal Outcomes, Inc.
The Thanksgiving tradition has evolved considerably since the pilgrims sat down to eat with Wampanoag Indians in the fall of 1621, and since President Lincoln, in 1863, declared it to be a national holiday.
One thing is for sure: Thanksgiving and gratitude go together like mashed potatoes and gravy (although to be historically accurate there were no potatoes at the first Thanksgiving—and, sadly, no pies either).
Gratitude is so important that the entire month of November is now considered National Gratitude Month. And it’s only natural for family and friends at Thanksgiving dinner to each announce what they’re thankful for.
Business leaders should take note that often what’s important in someone’s personal life translates to their professional life and how the traditions and meaning of Thanksgiving can apply to running an organization. Here are some vital strategies to help spread the spirit of Thanksgiving at your company throughout the year.
Giving Thanks
How often do you express appreciation for a team member’s job well done or for their inspirational new idea? Or when someone steps up to work extra hours to meet a pressing deadline? Don’t miss an opportunity to pat someone on the back. Research shows employees that receive recognition monthly are three times more likely to be productive, engaged, and loyal to their organizations compared with those not recognized. (Note, by the way, Gen Z employees seem to appreciate recognition a few times a week!) Some 90% of employees say that receiving recognition for their work motivates them to put in more effort. It’s a no-brainer!
Giving Back
This time of year, many people tend to volunteer and donate, but giving back shouldn’t be limited to one day or one season. Express your gratitude for the wellbeing of your team by giving back throughout the year. Build a company culture of caring. Survey your employees on the worthy causes they would like you to help them support. It’s estimated that 75% of small business owners donate an average of 6% of their profits to charitable organizations annually—250% more than larger organizations. Let’s keep it going!
As Ralph Waldo Emerson said, “Cultivate the habit of being grateful for every good thing that comes to you, and to give thanks continuously. All because all things have contributed to your advancement, you should include all things in your gratitude.”
Giving More Than Money
It’s not all about the money! Research by McKinsey has found that up to 55% of employee engagement is driven by nonfinancial recognition. Commenting that it is the biggest driver of employee experience, the McKinsey report added, “This insight is congruent with our findings that an employee’s decision to leave is often driven by not feeling valued by the organization or their managers. Currently, many tactics meant to bring employees together are received as the opposite—transactional, commonplace, and impersonal.” That means things like giving a one-time bonus to everyone or ordering pizza for the whole department when a project only a few worked on goes well.
You can generate a greater sense of belonging by personalizing the ways in which you express recognition. Encourage workers to applaud the performance of their peers in meetings, video calls, and emails. Studies have found it is often more effective than a high five from a manager. Research also shows that highly-engaged employees are 87% less likely to look for greener pastures.
Giving to Customers
Without customers, of course, you have no business. So, make sure to send them a personal note of thanks or even a small meaningful gift—and not just at Thanksgiving or the holiday season. Let them know how much their business means to you. Make a point of seeking their feedback on the quality of the service you provide. They’ll be grateful for the chance to let you know how you can do even better. Why is this so critical? Research shows that acquiring a new customer can be five times more expensive than retaining an existing customer and that repeat customers spend a lot more than new customers.
Giving to Yourself
Make Thanksgiving a time to reflect on your accomplishments over the past year and celebrate your wins. Acknowledge the hard work you’ve done and recommit to moving forward with renewed vigor. Reassess your goals and pledge to use the time between Thanksgiving and the end of the year to recalibrate and prioritize your goals for next year. Make Thanksgiving a springboard for future endeavors.
Looking Ahead
As we observe Thanksgiving, let’s keep in mind that the holiday’s spirit of gratitude can also enhance our professional environments. Incorporating appreciation into our daily business operations—through acknowledging team efforts, supporting community initiatives, valuing customer feedback, and reflecting on personal achievements—can significantly boost morale and productivity. This Thanksgiving, let’s commit to making gratitude a year-round practice, which could lead to a more positive and productive workplace.