How Practicing Gratitude Can Benefit Your Business

A lot of us have seen the impact that practicing gratitude can have on our personal lives, but it turns out that expressing thankfulness can pay big dividends in business, too. In The Currency of Gratitude, Michele Bailey, founder of Oakville, Ontario-based brand and culture agency The Blazing Group, argues that gratitude is the critical currency for building real relationships and long-lasting connections with team members, clients, and customers alike. Here, Bailey talks about the impact that expressing gratitude can have on a person’s well-being and productivity, ways people can positively impact their business by building a culture of thankfulness, and how to craft a meaningful thank you note that will be remembered.

Q: Why is the expression of gratitude in work and business life so important, especially given our current climate over the last couple of years?

Bailey: Expressing gratitude in business is more essential than ever to make people feel valued, appreciated, and heard. Whether at work or at home, and now those two things are often in the same physical location, we can't do it all alone. People will be happier, engaged and more productive if they know their contribution is appreciated.

Q: What is the impact of expressing gratitude (or giving recognition) on a person's well-being, and even on their productivity?

Bailey: From a well-being perspective, an expression of gratitude helps individuals understand their contribution to business success. It is an acknowledgment that what they are doing is of value and that they matter. In business, when individual employees understand their role in company success and that their hard work is not going unnoticed, they find an added sense of clarity. Showing gratitude helps employees feel appreciated, and focus on what is important while increasing engagement, enjoyment, and productivity. 

Q: What are a few tangible ways people can positively impact their business and work lives by expressing gratitude, for those just getting started? Any pitfalls to avoid?

Bailey: The simple way to start is to spend just five minutes at the end of the day to reflect on who has helped them today - both personally and professionally - to get through the day. Who has made their life, in some small way, a little easier today? Reaching out with a heartfelt genuine "thank you" will foster better communication and team culture. The one pitfall to avoid is not being specific - ensure you make clear to  that person how they helped you, so they truly understand why and how they've contributed to your success. 

Q: What are some good rules of thumb for crafting a meaningful thank you note - how can you say thanks in a way that will make a lasting impact?

Bailey: The best rule of thumb - and the biggest way to make a lasting impact - is to be genuine, be specific and make it personal. An expression of gratitude must be authentic so acknowledging who, why and how an individual has helped you is crucial. If you take a moment to reflect on those things and then express them - particularly in written form - it becomes truly impactful. It also usually sparks the notion of paying it forward in the recipient, so the impact can be exponential.

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