One of the main reasons that employees resign is due to a lack of credit and far too many entrepreneurs don't recognize this. Often entrepreneurs take credit for the successes of their business as if they are solely responsible for them. Just because your employees are employed by you and did the work for you, doesn’t mean you get to claim all the applause. Although you may have started and grown the business, you need to put your ego aside and recognize that the reason your business is still around is because of others; your business is not just about you.
Everyone wants to be acknowledged and valued; it’s human nature to have these desires. And this goes further than just financial compensation. Your employees want to be seen for what they truly are: contributors and collaborators.
As mentioned earlier, one of the main reasons employees resign is due to a lack of credit. When they feel like they are not recognized for the work they do, they become disheartened and unfulfilled, and they leave. There is little worse for a team to realize that someone else is taking the credit for the numerous hours of hard work that they put in; so don’t be that person.
Remember that as an entrepreneur, you can’t do it all alone; you are dependent on your team to reach your goals and make your vision a success. Giving your team credit as and when they perform is crucial in keeping them at your business. This doesn’t have to be done in public, such as a company newsletter, doing it privately in the passageway or in an email is also good, just make sure you do it. You might think this is not a big deal, but it will mean the world for the people you do it for.
It is also your responsibility to ensure your managers are giving credit to the juniors under them. Remember, recognition is infectious and contributes significantly to having a strong company culture; something for which you need to set the tone.
Some companies err in thinking only work directly impacting the bottom line deserves recognition. But recognition is all about culture, so consider the less obvious wins that affect the soul of your company. Maybe an employee is a champion for in-office team-building events and always keeps morale high; or there’s a diligent worker who puts in extra effort without complaint; or mentors who go the extra steps to help new employees, even though it’s not necessarily their job.
Try to make it a daily habit to compliment, thank, credit, and celebrate people around you. By doing this, you’ll be able to see the impact it has on your employees, their happiness, and their productivity. Then you, in turn will feel like your actions have meaning and soon you will have an extremely motivated team willing to move mountains for you.
“Be generous with your time and your resources and with giving credit and, especially, with your words. It's so much easier to be a critic than a celebrator. Always remember there is a human being on the other end of every exchange and behind every cultural artifact being critiqued.” Maria Popova
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