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I believe acknowledgment is one of the most scarce commodity with human beings, it goes with entrepreneurs too. Human beings can be such misers when it comes to acknowledgment. The funniest thing is they expect others to acknowledge them all the time!
I have learnt in family and at work to acknowledge. Through acknowledgment one opens a space in which most difficult things can be made simple. It is human for people to expect being recognized. It not only motivates them but opens a portal of positivity in which they perform much better. I believe salary, promotion, quality of work are of little value in employee satisfaction if they are not being recognized.
A bulletin board where acknowledgments can be pinned, dinner vouchers, CEO having breakfast with a few employees at a time, small trophies, most importantly sincere appreciation and gratitude expressed with humility goes much further than any other motivational tool. If carried out with sincerity (there is a thin line between appreciation/ acknowledgment and flattery) it can accomplish almost anything.
