Business Benefits of Showing Appreciation

The Business Benefits of Showing Appreciation Applying the S.A.N.T.A. Mantra to your staff and customers

What is The S.A.N.T.A. Mantra?

S.A.N.T.A. stands for "Show Appreciation, Nurture Thoughtful Actions “.

The S.A.N.T.A. Mantra is a system that encourages people to show appreciation for acts of kindness and loyalty thereby nurturing an ongoing cycle of thoughtful actions. The mental health benefits of an appreciative, grateful mindset have been amply illustrated.* But, Dr Steven Stosney states in Psychology Today that “Gratitude Is Good; Appreciation Is Better”. (Psychology Today)

I will outline the business benefits that will accrue from such a mindset – provided you act upon it. Don’t forget, it’s SHOW Appreciation, not FEEL appreciative! *Research has shown that consciously practicing gratitude can reduce feelings of stress and anxiety. In fact, studies have shown that a single act of thoughtful gratitude produces an immediate 10% increase in happiness, and a 35% reduction in depressive symptoms. These effects disappeared within three to six months, which reminds us to practice gratitude over and over. https://www.mentalhealthfirstaid.org/2022/11

Benefits of showing that you appreciate your staff: • •

Job Satisfaction: Appreciated employees are happier in their roles, leading to higher job satisfaction.

Employee Morale: A culture of appreciation fosters positive morale and camaraderie among team members.

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Employee Engagement: Engaged employees are more committed to their work and contribute more effectively to the organization.

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Productivity: Staff who know that they are appreciated tend to be more motivated, leading to increased productivity.

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Retention Rates: Employees who feel valued are less likely to leave, reducing staff turnover and the associated costs. (Retention by Attention)

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Loyalty: Employees who are appreciated are more loyal to their employers, often going the extra mile.

Team Dynamics: A culture of appreciation encourages teamwork and collaboration.

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Creativity: Appreciative workplaces often stimulate innovation and creative thinking.

Absenteeism: Happier employees are less likely to call in sick or take unplanned leaves.

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Mental Health: Feeling appreciated can contribute to lower stress levels and better mental health among staff.

"Employees who don’t feel appreciated don’t stay." - Laszlo Bock, Google HR

Benefits of showing that you appreciate your customers: • • • • •

Customer Loyalty: Customers who know that they are appreciated are more likely to remain loyal to your brand.

Repeat Business: Loyal customers tend to make more frequent purchases.

Word-of-Mouth: Customers who know that they are valued are more likely to recommend your business to others.

Customer Churn: Showing your appreciation of customers can help reduce the number of customers who switch to competitors.

Brand Reputation: A reputation for valuing customers can attract new business.

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Customer Experience: Showing that you value your customers highly contributes to a positive, memorable experience.

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Customer Lifetime Value: Loyal customers are likely to generate more revenue over time.

Referrals: Appreciative customers may actively refer new business to you.

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Marketing Costs: Loyal customers require less marketing effort and expenditure to retain.

Competitive Advantage: Businesses that show their appreciation often outperform competitors in terms of customer satisfaction and staff retention.

“The deepest principle in human nature is the craving to be appreciated.” - William James

The next steps you need to take: Which of your employees deserve your thanks and appreciation? You may find that it’s all of them!

Which of your customers do you value most? These are the ones that you most urgently need to show your appreciation.

Show your staff and customers that you value and appreciate them. It costs between four and seven times as much to acquire new customers as it does to keep existing ones. So, It’s worth spending some time and money on showing your appreciation. (Retention by Attention) There’s a similar downside to replacing employees who leave. As well as direct recruitment costs, there are costs and loss of productivity associated with onboarding and training. There may also be an impact on the morale of other team members.

What simple, regular actions can you take to ensure that your employees and your customers know that you value them highly? A simple, heart-felt “Thank you” is a great place to start. Or you may be able to record a generic or personal “Thank you.” video.

What special one-off actions will reinforce this? With Christmas looming, is there scope for something special – throw a party for your staff or their children, visit local customers with a personal gift? Or get Santa Mike to send them Nice List Certificates and a video expressing your sincere appreciation for your staff or your customers.

Drop me a line at mikefacherty@gmail.com today for more details.

“Feeling appreciated brings a magical element to life.” – Donna Eden