“Gratitude and attitude and not challenges; they are choices.”Robert Braathe

As the holiday season approaches, many of us are thinking about the things we are grateful for in our lives. But did you know that expressing gratitude and appreciation can also have a positive impact on your bottom line?

Studies have shown that gratitude can improve both physical and mental health, leading to increased productivity and overall job satisfaction. Furthermore, expressing appreciation to employees and customers can foster a positive company culture, leading to increased customer loyalty and retention.

One way to express gratitude in the workplace is through simple gestures, such as thanking employees for their hard work or offering words of praise for a job well done. This can not only boost morale, but also motivate employees to continue putting in their best effort.

Another way to show appreciation is through rewards and recognition programs. These can be as simple as offering a gift card or extra time off for top performers, or as elaborate as hosting a company-wide recognition event. Not only do these programs provide incentives for employees to excel, but they also let employees know that their hard work is valued and appreciated.

In the realm of customer service, expressing gratitude can also pay off. Saying thank you to customers, whether in person or through a personalized email or note, can make them feel valued and appreciated. This can lead to increased customer satisfaction and loyalty, which can ultimately result in more repeat business and positive word-of-mouth advertising.

According to IRS regulations, businesses can give gifts to both customers and employees, but there are some rules to follow to avoid any tax implications. For gifts to customers, the IRS allows a deduction of up to $25 per person per year. Any amount above $25 is not tax-deductible. Additionally, cash and cash equivalents, such as gift cards, are not eligible for the deduction. For gifts to employees, the IRS allows a deduction of up to $25 per person per year for non-cash gifts, such as merchandise or food. It’s important to keep these rules in mind when giving business gifts to avoid any tax issues. For more information, see IRS Publication 559, which is Frequently Asked Questions on Gift Taxes.

So this holiday season, don’t forget the power of gratitude and appreciation. Not only will it bring joy and happiness to those around you, but it can also improve your bottom line. Take the time to thank those who have made a positive impact on your business, and watch as the benefits of gratitude multiply.

“No one who achieves success does so without the help of others. The wise and confident acknowledge this help with gratitude.”Alfred North Whitehead

Heidi Shadel is a Cumberland business owner and graduate of Frostburg State University with a master’s degree in business administration. Connect with her on LinkedIn, follow her on Twitter at Heidi Shadel @heidiann73 or email her at heidi@atr-hr.com.

React to this story:


Trending Video

Recommended for you