A Joyful Approach to Leadership: Gratitude and Acknowledgement as Catalysts for Change

Last year at the World Council of Credit Union Conference, I was asked by multiple credit union colleagues, “How are you moving so fast at Community Financial”? My answer surprised them. It was simply “gratitude.” When we show up for our teams, show them that we care, and share in gratitude for each other and our work, incredible feats can be tackled rapidly.

In today's lightning-speed revolution with artificial intelligence and digital transformation, layered with economic uncertainty, credit unions face unprecedented challenges and opportunities. To stay ahead of the curve, leaders must not only adapt to change but also inspire and motivate their teams to do the same. As Richard Sheridan emphasizes in his book "Chief Joy Officer," "Joy is the fuel that powers a high-performing organization." By fostering a culture of joy, gratitude, and acknowledgment, credit union leaders can create a positive and supportive work climate that empowers team members to thrive and drive innovation.

Why Gratitude and Acknowledgement Matter

• Boosts morale and motivation: When team members feel appreciated and recognized for their contributions, they are more likely to be engaged, motivated, and committed to their work.
• Enhances teamwork and collaboration: A culture of gratitude fosters a sense of camaraderie and belonging, making it easier for teams to work together effectively and achieve shared goals.
• Improves member satisfaction: Grateful team members are more likely to provide exceptional member service, leading to higher satisfaction and loyalty. A 2019 article in Forbes stated “One study by Glassdoor found that 81% of employees surveyed felt motivated to work harder when their boss showed appreciation.”
• Attracts and retains top talent: A positive and supportive work environment is highly desirable to potential team members, making it easier for credit unions to attract and retain top talent.

How Credit Union Leaders Can Implement Gratitude and Acknowledgement

• Express sincere appreciation: Regularly communicate your appreciation for the heart and hustle of your team members. Your appreciation should be crafted with authenticity.
• Provide specific feedback: Be clear and specific about what you admire and appreciate about your team members' work.
• Recognize achievements: Celebrate both individual and team accomplishments, no matter how small. The power of appreciation at a collective level was a common theme throughout the book “Chief Joy Officer.”
• Offer public acknowledgment: Recognize outstanding contributions in team meetings, via the intranet, or on social media. Please be sure to take note of your team members' preferences. My Big Five Personality Test shows I have an aversion to recognition, and even more so with an audience. That doesn’t mean always avoiding public recognition, but it is important to be cognizant of how that will make each individual team member feel.
• Encourage peer-to-peer recognition: Foster a culture where team members can acknowledge and appreciate the work of their colleagues. At Community Financial, our organizational development team implements this through a platform on our intranet, where team members can easily share their appreciation for each other and send each other points that can be used later to cash in for gifts.

Orchestrating Change with Gratitude and Acknowledgement

During times of change, it's especially important to cultivate a culture of gratitude and acknowledgment. By recognizing the challenges and sacrifices that team members may be facing, leaders can help to alleviate stress and build resilience. Additionally, expressing gratitude for team members' adaptability and willingness to embrace change can inspire them to continue to be open to new ideas and opportunities.

As Sheridan further points out, "Joy is not just a nice-to-have; it's a strategic imperative." By prioritizing joy, gratitude, and acknowledgment, credit union leaders can create a more positive, productive, and resilient organization well-positioned to thrive in today's competitive landscape.

Moreover, as Brené Brown emphasizes in her book "Dare to Lead," "Vulnerability is the key to courage." By expressing gratitude and acknowledging the contributions of others, leaders demonstrate their own vulnerability and create a safe space for others to be vulnerable as well. This fosters a culture of trust, honesty, and open communication, which is essential for effective leadership and organizational success.

This came full circle for me in our leadership meeting last week. To preface, this had been a heavy week for our team, as we learned of the passing of a beloved teammate earlier in the week, on top of major project launches. Our director of mortgage experience led our leadership team in our final discussion for the book “Chief Joy Officer.” She surprisingly started with the book's Acknowledgments section. She used this section to talk about how grateful she was for the leaders she was surrounded with on the call, for the hard work we are doing, and how because of that, we’re seeing our strategy gaining traction. In this moment, I saw strategy in action. Our Community Financial Credit Union strategy is simply articulated on a napkin. It expresses our outcome as “gratitude.”

Gratitude and acknowledgment are essential for building strong teams and fostering a positive work environment. They are also key to effective leadership in times of change. By embracing these principles, credit union leaders can inspire their teams to overcome challenges, embrace opportunities, and achieve extraordinary results.