There has been a recent focus on the 'Great Resignation'. People are quitting their jobs and leaving.
As an employee of a company, people sign three contracts. The first one is an economic contract. Company pays employee for her time. Everyone signs this contract.
The second one is the social contract. The employee becomes a part of a team. They go out to team lunches and team dinners, they laugh and have fun at the workplace. They celebrate together. Going to office becomes fun.
The final contract is the Emotional Contract. Employees realize that the company stands for something, the company helps them in times of need, media and LinkedIn talks well about their company.
They become proud of being an employee of the company. The company is a family. They 'own' it. They know that their voices will be heard and their views respected.
Emotional contract is a life-time contract.
The path is always the same Economic -- Social -- Emotional.
The most important aspect is that as one moves up the chain, it becomes more and more difficult to quit.
Work From Home (WFH) due to COVID has upended this chain. Since every interaction is formal, the contract remains economic.
COVID is a reality. Social contract is not coming back for a long time.
Can Organizations move directly from Economic to Emotional?
Yes. By using the greatest tool ever available to man.
Appreciation.
Appreciate the employee at every opportunity. Create opportunities to appreciate. Appreciate big and small wins. Let employee know that she is a part of a team and her work is adding value to the company and the customer.
Use grand words like 'Amazing', 'awesome', 'Stupendous', 'Gold Star'. Go all out. Don't scrimp.
Appreciate in public. Use real words, not just canned LinkedIn marketing material.
Also. Do not criticize. Ever.
Read it again. Never criticize.
Appreciation without criticism is how they train dogs to jump through hoops.
Appreciation creates employees who are loyal.
And if they leave? They become the company's greatest ambassadors.
Appreciation doesn't spoil people. It just makes them want more of it. They will do whatever it takes to get more.
"If we appreciate, people will assume that what they are doing is sufficient. They won't learn", people say.
That is not correct. Also it assumes that the boss knows more than the employee. 'Oh, I have balance in appreciation account waiting to be distributed. If only the employee would do something to earn it'.
Giving appreciation is the responsibility and job of the boss. Earning it is not Employee's responsibility.
Try it for a month, a quarter. Try to 'catch people doing right' rather than 'finding whats wrong'.
Results will be exceptional.
Anyone can 'find whats wrong'. We are all wired that way.
It takes something special, something different to 'catch them doing right'.
And that is the route to excellence.
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