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The Fedcap Group Reports Fiscal Year 2020 Operating and Financial Results

The Fedcap Group Reports Fiscal Year 2020 Operating and Financial Results

--Resilient performance supported by a strong programmatic, financial and technology infrastructure--

  • Remained fully operational while ensuring health and safety of personnel and clients.
  • Provided frontline services across our diversified platform.
  • Maintained our strong financial position,
  • Positioned The Fedcap Group to address post-pandemic challenges and opportunities.

New York, December 11 – The Fedcap Group, the parent company for a growing network of top tier nonprofit agencies, today reported its operating and financial results for fiscal year 2020 ending September 30, 2020. Committed to providing services that positively impact the lives of people with barriers to social and economic well-being, The Fedcap Group operates in four main practice areas: Education, Workforce Development, Occupational Health and Economic Development.

Management Comment

“The Fedcap Group’s fiscal 2020 performance demonstrated the resilience of our organization and our ability to manage effectively through the challenges of COVID-19. We have remained operational throughout this unprecedented health crisis, providing a broad range of services to consumers, while maintaining strict safety protocols to protect our staff. At the same time, we took action to optimize The Fedcap Group’s financial position to ensure the sustainability of our work, ending the year with relatively stable year-on-year recurring revenue levels, a strong cash position, and expanded bank credit lines,” said Christine McMahon, President and Chief Executive Officer.

“Nowhere has the pandemic been more acutely felt than in our at-risk communities, where individuals are suffering high infection rates, loss of income and a pullback in available services. We are proud of how well The Fedcap Group has been able to utilize our robust platform to provide much needed help, including: distributing over 50 tons of food, toiletries, and other essentials through our child development centers and special education schools, cooking over 160,000 meals for the homeless and food insecure in our commercial kitchen, providing childcare to health care providers and first responders, and offering remote telehealth services to tens of thousands of individuals. Similarly, our facilities management subsidiary has deep cleaned over 18 million square feet of commercial space to provide a safe working environment for thousands of individuals.

“As our staff worked tirelessly since March to address the special pandemic-related needs in our communities, 2020 was also a year in which we continued to refine our work in our five key areas of focus: Children ages 0-8, youth transitioning from foster care, individuals with intellectual and developmental disabilities (I/DD), the previously incarcerated and those on public assistance. Throughout the year, we made targeted investments to enhance our technology infrastructure, enabling the transition to work-from-home and upgrading our financial, HR, fundraising and business development systems to create a sustainable platform from which to efficiently serve our diversified populations.

2020 Financial and Operating Metrics

Revenue for FY 2020 was $273.1 million, stable on a recurring revenue basis with the prior fiscal year. Lower year-on-year comparisons of reported revenue primarily reflect the downsizing of our home health business, which contributed additional revenues of approximately $6.7 million in 2019 and the wind-down of a large project that generated revenues of $25.2 million last year.

Over the last several years, The Fedcap Group has significantly diversified its revenue sources, bringing a broader array of services to at-risk populations.

  • Economic Development is comprised of business services operations that directly employ the populations we serve. In fiscal year 2020 we employed over 1,700 people in these businesses, the majority of whom have disabilities or other barriers. Within this activity, the largest unit is Total Facilities Management, which provides services at many iconic sites in the U.S. and at government and commercial office buildings. During this pandemic, client demand for Total Facilities Management has increased significantly, and we have worked diligently to meet the increased cleaning needs of the over 18MM square feet of space that we maintain.
  • Workforce Development continues to represent the area in which The Fedcap Group serves the largest number of individuals through a broad range of services, including the Single Stop platform. In 2020 we provided functional capacity assessments, employment readiness training, vocational evaluations, and wellness services to 23,000 people. We placed just under 9,000 people in jobs and provided job retention services. We have continued to provide most of these services via video conferencing and technology platforms during the current healthcare crisis.
  • Education and Occupational Health represent growing bodies of work in early childhood services provided through Easterseals and in our programs assisting individuals with intellectual and developmental disabilities (I/DD) enter the workforce. We provided services to 6,535 children ages 0-8, designing and delivering an array of evidence-based practices that promote long term economic and social well-being. The Fedcap Group is also at the forefront of helping individuals with I/DD learn new trades and enter the workforce at competitive wages. Transitioning this work to a telehealth model during COVID-19 has involved engagement of families and a learning curve for staff.

Fiscal 2020 operating expenses were $272.6 million, 88% of which represented direct program expenses. The Fedcap Group reported an operating gain of $504 thousand for the year ended September 30, 2020, largely reflecting the organization’s agility during the COVID-19 crisis, pivoting to delivering services remotely, expanding COVID-related services and managing expenses in areas where revenues were impacted by the crisis.

At September 30, 2020, cash and marketable securities were $31.7 million, of which $12.5 million represented federal government-funded loans as part of the Payroll Protection Plan (PPP). At the end of fiscal 2019, cash and marketable securities were $18.5 million.

During FY20, The Fedcap Group began the process of increasing its working capital line of credit to enable the organization to effectively bid for many growth opportunities that exist. In October 2020, The Fedcap Group refinanced a portion of its outstanding debt. The line of credit capacity was increased to $42.5 million from $25 million and long-term debt was decreased by $4 million.

Summary and Outlook


“Fiscal 2020 was a tale of two halves. In the first half of the year, Fedcap was moving forward with its growth strategy, achieving positive outcomes for individuals in need, winning new contracts including a large new workforce development contract in Canada, and engaging in talks with potential acquisition candidates.

“At the onset of the pandemic, we pivoted quickly to address the dire situations that existed in many of our communities. I could not be prouder of The Fedcap Group leadership and staff who have worked diligently to bring our essential services to the at-risk populations we serve within a very difficult operating environment. This demonstrates the strong culture that unites us and supports our confidence in The Fedcap Group’s ability to continue to effectively navigate the COVID-19 health crisis and to emerge from it as an even stronger organization.

“While the pandemic caused delays in several of our initiatives, we are pleased to report that in the 4th quarter of fiscal 2020, we officially brought Apex Technical School into The Fedcap Group. Since 1961, Apex Technical School has enjoyed a rich tradition of service to New Yorkers. Licensed by the New York State Education Department, the school’s founders were marine, stationary and refrigeration engineers who were well known in union and trade association activities. They developed a trade school for the purposes of offering a hands-on quality education. Nearly 60 years later, Apex continues to provide educational opportunities that change lives. Each year, 1000+ individuals graduate with skills and certifications in trades with tremendous growth potential. This combination allows us to expand our ability to assist unemployed individuals develop new skills, especially in the area of technology, and compete in the changing marketplace.

“We have also ramped-up our large Canadian workforce contract and are now serving a population of more than 10,000 people across Ontario. Additionally, we continue to expand our presence in the UK and we were recently selected by the UK Department of Work and Pensions (DWP) as one of 14 organizations (and the only nonprofit agency) eligible to compete for new workforce development contracts worth £2.9 billion over 4 years, throughout England, Scotland and Wales.

“We believe that the post-COVID-19 environment will provide opportunities for The Fedcap Group and similar service providers that are well-capitalized and have the scale and IT infrastructure to offer robust solutions to funders. We already are seeing greater demand for our on-premises Facilities Management Services and have added over 40 individuals to implement contract plus-ups we have received, to increase the scope of our work in this arena. There also will be expanded need for our workforce training and development work to help get individuals back to work.

“Operating in 22 states and Canada, Scotland and England, we are a leader in providing relevant services. Our strong financial position and the dedication of our staff give us confidence in The Fedcap Group’s ability to remain a sustainable organization supported by a strong programmatic, financial and technology infrastructure,” said Ms. McMahon.

About The Fedcap Group

For 85 years, The Fedcap Group has developed scalable, innovative and potentially disruptive solutions to some of society’s most pressing needs. Serving over 265,000 people each year, The Fedcap Group provides educational services to every age group, vocational training in high-growth industries, behavioral health services, work readiness skill building and jobs—all targeted to helping people achieve long-term self-sufficiency.

Conference Call Details

Date: December17, 2020 at 11:00am ET

Webcast:

www.fedcapgroup.org/results

US: 1-844-792-3735

UK: 08002799489

Canada: 1-855-669-9657

Contact:
Ariana Reed Casasanto
646-931-2412
acasasanto@fedcap.org

Financials

Consolidated Statement of Financial Position as of September 30

Consolidated Statement of Activities as of September 30

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Our Children Are Still Watching

Our Children Are Still Watching

January 11, 2021

“In a democracy, the individual enjoys not only the ultimate power but carries the ultimate responsibility.” – Norman Cousins

As I watched citizens of the US storm the Capitol, like many of you, I was stunned. Since Wednesday, I haven’t stopped reflecting on the disturbing images.

While some of us spent considerable time focusing on how we got here, I found myself wondering where we go from here? And how do we take our children along in our journey so that in the end, they feel safe and secure in their future?

In early June, after the murder of George Floyd, I wrote in my blog entitled Our Children Are Watching: “As this painful week comes to an end, I am left thinking about the children. How are they internalizing what they see on TV? How do we answer their questions? This week of pain comes at a time already fraught with tension, compounding the destructive force of COVID-19 and the resulting financial crisis that is hitting our most vulnerable and marginalized communities the hardest. Our collective children are growing up and learning about their world, now with disturbing events unfolding in every direction. I wonder how we explain these times to our children. What will they take away from this point in time?”

Every word above could have been written about the events that unfolded this past week. And I find myself with the same concerns. Due to COVID-19, there are many children who are being schooled from home, which means that they may have seen these events unfold on TV in real time. How did seeing the images make them feel? What conclusions are they drawing about our country and about democracy?

We have an obligation to talk to our children about this week’s events. Talking about them calmly can quell fear. Yet, helping them make sense of the information we provide is no easy conversation. How do we help our children sort through the fact and fiction surrounding the day? How do we respond to them when they ask why? And equally important, what do we say when they ask “what will you do to make it better?”

My hope is that our children see us authentically struggling with what to do next. That they see the vulnerability in our conversations. That our children see us refusing to gloss over the events, because we just can’t. And that they come to understand that the questions we ask ourselves are just as important as the answers.

Our children are watching. I believe today, as I did in June, that what we do next must be done very well.

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Why We Value Work

Why We Value Work

January 4, 2021

Work is a significant part of our lives—an activity to which we’ll devote more time than anything else. If we start working full time at age 18 (and most start well before), by the time we are 65, we will have spent 97,760 hours on the job.

At The Fedcap Group we have spent considerable time focusing on the value of work. Work brings purpose, structure and self-esteem. Work builds confidence. Work pays bills and allows us to meet basic needs. Work teaches responsibility and accountability. Work unleashes creativity. Work creates meaningful and often lifelong connections–thus the phrase “my work family.”

All we have to do is look around and we can see the tangible and intangible impact of unemployment. Deborah Belle and Heather E. Bullock wrote a compelling piece entitled The Psychological Consequences of Unemployment. They state, “Job loss is associated with elevated rates of mental and physical health problems, increases in mortality rates, and detrimental changes in family relationships and in the psychological well-being of spouses and children. Prolonged unemployment results in social isolation and reduces one’s sense of contribution to society.” 

Every year approximately 30,000 people come to The Fedcap Group for assistance with becoming employed. One of the consistent themes we hear from people wanting to work is that when they lose their job and cannot find work, they feel invisible. For many, morale and confidence decline with each month that passes in unemployment. All this is reinforced in stories from our clients.

In response, building on our 85-year history of putting people to work, The Fedcap Group is deepening our commitment to help people find employment through the launch of ™IWORK!—a campaign to create enduring social and economic value through a focus on work.

™IWORK! is our contribution to counter the challenges and risks of exclusion and marginalization. As countries around the globe seek to transform lives and communities hit hardest by the pandemic, ™IWORK! is a clarion call for leaving no one behind. Efforts to spur the economy and address inequality must not forget individuals with barriers to employment–adults with disabilities, the formerly incarcerated, those in recovery, young adults leaving foster care and men and women without an employment history.

In the coming weeks and months you will hear more about ™IWORK!…

As always, I welcome your thoughts.

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Reflection Requires Paying Attention

Reflection Requires Paying Attention

December 28, 2020

For many, New Year’s is a time of reflection. A time to look back and consider all that happened over the past 12 months; how events surprised, and transformed, how they wounded and how they strengthened. For many, 2020 may have been the kind of year that we simply want to forget. It may have been filled with just too much uncertainty or loss. Yet, I think that if we just let the year go, if we don’t reflect on all that happened, we may miss all that 2020 taught us—if we paid attention.

In her book Rapt: Attention and the Focused Life, Winifred Gallagher writes:

“That your experience largely depends on the material objects and mental subjects that you choose to pay attention to or ignore is not an imaginative notion, but a physiological fact. When you focus on a stop sign or a sonnet, a waft of perfume or a stock-market tip, your brain registers that ‘target,’ which enables it to affect your behavior. In contrast, the things that you don’t attend to in a sense don’t exist, at least for you.
All day long, you are selectively paying attention to something, and much more often than you may suspect, you can take charge of this process to good effect. Indeed, your ability to focus on this and suppress that is the key to controlling your experience and, ultimately, your well-being.”

Every single day, your life is driven by what you’ve paid attention to and what you haven’t. Paying attention is an act of will. When you pay attention, you are devoting your thoughts, energy, and time to what is happening in the present. Auschwitz-survivor Viktor Frankl wrote “Everything can be taken from man but one thing: the last of the human freedoms—to choose one’s attitude in any given set of circumstance, to choose one’s own way.”

So, what have I paid attention to in 2020?

  • The extraordinary impact of timely and thoughtful communication
  • Resilience—it is all around me
  • Leaders at all levels
  • The hard work involved in teamwork
  • All that frustrates and all that inspires
  • The value of connection
  • Planning

The following poem captures the spirit of this approach to living.

ARE YOU PAYING ATTENTION?
Everything comes from this
This feeling
Do you feel it
Are you paying attention?
This fire
Inside you
It can burn you into ash
And you will float away in tiny pieces
Or it can fuel you
It will fuel you
It will be the force to guide you
It will be the light to find you
What do you want
Stop worrying
What is your heart telling you
Listen
Everything comes from this
This feeling
Feel good
You are here
You are amazing
Do you feel it
Are you paying attention?

– SHILOW

Each week, in the hopes of creating community, I strive to be authentic and transparent in my messages. Thank you for sharing the many highs and lows of 2020 with me and for enabling us to learn together.

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Let’s Do This for Our Children

Let’s Do This for Our Children

December 21, 2020

The holiday season has always been one of conflicting emotions. Coming together with family and friends–celebrating beloved traditions makes this a wonderful time of year. The great food, laughter, stories and memory making, are the heart of the season.

At the same time, the joy of the holidays is dimmed by the knowledge that there are so many going without. Hungry children, youth disconnected from their family with no hope, and parents experiencing the desperation of not having enough money to pay bills, living with the deep-seated fear that homelessness is one crisis away.

This year, more than any in recent memory, I am distressed by the deepening poverty in our country. On December 16th the Washington Post reported that the U.S. poverty rate surged over the past five months, with 7.8 million Americans falling into poverty. According to researchers at the Universities of Chicago and Notre Dame, the poverty rate jumped to 11.7 percent in November, up 2.4 percentage points since June–the biggest jump in a single year since the government began tracking poverty 60 years ago. And according to the Children’s Defense Fund (CDF), children remain the poorest age group in America. Nearly 1 in 6 children, in the richest country in the world, live in poverty. CDF stresses, “Children growing up in poverty face harsh living conditions that can steal away their childhood. The unrelenting stress of poverty can hinder a child’s brain development with long-term consequences on physical and emotional well-being, leading to lifelong effects.”

A recent article in Brookings.edu reported that 14 million children in the US are going without enough to eat. Since the first week in June, the US Census Bureau has asked households that reported having insufficient food whether it was often, sometimes, or never true that in the last 7 days, the household’s children (under 18 years old) “were not eating enough because we just couldn’t afford enough food.” Over 16 percent reported that it was sometimes, or often the case, that the children were not eating enough due to a lack of resources.

The measure of a society can be taken by looking at the policies that affect children. How children are nurtured and cared for reveals more about a society’s values than its political rhetoric.

Improving the long-term well-being of children is one of the priorities—one of the 5 Bold Goals of The Fedcap Group. And we take this very seriously. We begin by making sure children we serve have enough to eat. In 2020, the food bank affiliated with our Easterseals Child Development Center in Port Jervis gave out 50 tons of food and toiletries to children and their families. Our Commercial Kitchen partnered with other community providers and local business to make 160,000 meals for the homeless and individuals living in shelters—many of them children. SingleStop (Singlestop.org)—our robust technology platform that enables individuals to draw down government supports, helped 81,746 households access Supplemental Nutrition Assistance Program (SNAP), housing, health care and other government benefits.

I know many other nonprofit organizations around the country are also working tirelessly to try to meet the needs of the impoverished. While all of what we are doing matters, we know this is not enough.

At the Fedcap Group we believe in the power of possible. It is more than just a tag line—it is the way we think, it is in our DNA. In that spirit, as we face the beginning of a new year, let’s make a pledge to eradicate childhood poverty. Let’s not rest until every child goes to school ready to learn, having had a healthy breakfast. Let’s agree that it is not OK for any child to go to bed hungry.

We can do this.

 

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Networks of Support—a Well-being Indicator Worth Measuring

Networks of Support—a Well-being Indicator Worth Measuring

December 14, 2020

When The Fedcap Group launched the Metrics That Matter initiative in 2012, our intent was to rigorously and frequently measure things that, well, mattered. We were invested in measuring more than the data we were obligated to track, or even data that we had historically tracked. We sought data that would teach us about the real impact of our work—real indicators of long-term economic and social well-being.

Research tells us that well-being indicators include access to health care, having enough to eat, a safe and stable place to live, a steady job, money in the bank, and having a reliable network of support.

The concept of network of support has taken on new meaning in the days of COVID-19. Many are realizing how much they miss the connection they had with their friends and family. They liked having someone to rely on—and they liked being that someone to another individual. Research tells us that mutual exchanges of social support are a critical component of well-being. Human beings do not thrive, absent of supportive relationships. They help us cope with problems, manage the ups and downs of life, and reduce isolation. In crisis situations, this network is invaluable. A helpful network can make the difference between making it through a crisis or falling off the proverbial cliff.

Many of the people served by The Fedcap Group do not have a well-developed support network. It could be that they have moved a great deal and it was challenging staying in touch. They may not be in a good place and are ashamed to reach out, or perhaps they just don’t have the energy it takes to sustain a relationship. This lack of a supportive circle takes its toll.

I first became acutely aware of the gap in supportive networks when we launched our efforts to help youth transitioning out of foster care, enter and graduate from college. Few of the young people we served had stable family relationships. They had moved from foster home to foster home, they had been assigned many different social workers, and had gone to as many as eight different schools. They had NO network to rely on—and it resulted in homelessness, joblessness, dropping out of college and so on.

To change the outcomes for these young people, we introduced Networking by Design™. While not as organic as building personal networks over time, it was effective in jump-starting networks of support. Networking by Design leveraged the generous time and talents of our Board of Directors, by creating opportunities for young people to connect with them and with influential members of the business community. Today, nearly 10 years after we launched our first Networking by Design event, many of those relationships continue and they have fundamentally changed the lives of both our youth and adult participants.

Establishing a network of social support is not simple. So many of the individuals we serve do not trust easily—they have been repeatedly let down by family and friends. Yet, at The Fedcap Group we believe it is worth the investment of time and energy to help the individuals we serve develop the skills to build and sustain a circle of support. We’re committed to this goal: that 100% of the people who leave our programs, across every company of The Fedcap Group, have an identified, reliable, healthy network of support.

And we are measuring it—because we believe it matters.

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Stories Elevate the Data

Stories Elevate the Data

Jorge Alvarado with one of his daughters. Jorge will be a speaker at the Celebration of the Power of Possible Gala.

December 7, 2020

Tonight, The Fedcap Group celebrates its annual Celebration of the Power of Possible Gala. The theme this year is Stories That Ignite the Heart!

I find myself thinking a lot about stories and their impact.

In a piece by Mark Minelli entitled Science Behind Storytelling he states, “While our ancestors sat around the campfire listening to the tribal storyteller, we now sit in cinemas, theatres or in front of TVs, computers and mobile phones to share the stories of our lives. In fact, the universal nature of storytelling in part explains our shared, evolved human psyche.” It’s one of the reasons many of us are such voracious readers.

We seek out stories that stimulate our intellect and engage our emotions. Across every culture, organization, family and group of friends, stories are what connect us. According to Minelli, “Over the centuries we have used narrative story structure as the most elegant way to communicate our messages, passions, vision and who we are.”

While data and analysis are the lifeblood of The Fedcap Group, the stories—of our staff, board and clients—are our heart. It’s our own story that brought us to the organization and creates interest in our work. While we rely on numbers as evidence of the value of our work and to guide us in our decision making, without a corresponding story about human impact, the data doesn’t resonate. It’s the story that makes the data matter.

So, as we virtually gather tonight, reflecting on our 85+ years as an organization and the impact that we’ve had on the lives of millions, we’ll hear both old and new stories. We’ll be moved and inspired. We’ll remember why we do what we do every single day.

And I believe we will all be the better for it.

I invite you to join us tonight for our 2020 Celebration of the Power of Possible Gala. If you have not already registered, you can do so right here.

The preshow will begin at 5:30pm ET followed by the virtual event, promptly at 6pm ET.

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Organizational Resilience: Cultivating the Ability to Spring Back

Organizational Resilience: Cultivating the Ability to Spring Back

November 30, 2020

Most of us are familiar with the definition of resilience as “the capacity to recover quickly from difficulties; toughness.” Not as many are familiar with the definition of resilience as “the ability of a substance or object to spring back into shape; elasticity.”

I have spent quite a bit of time thinking about organizational resilience, specifically: how to cultivate a resilient spirit as part of culture and how to create resilience among our staff, especially in the era of COVID. The idea that our resilience is reflected by our ability to spring back into shape rings true for me.

In a recent article, McKinsey & Company discussed the need for leaders to act rather than react. The article mirrored my thoughts. “Even as the COVID-19 crisis continues to create a world of uncertainty, the goal must be to rebuild for the longer term. Companies that are strong and resilient will be better placed to survive and prosper. Those are qualities that can’t be taken for granted; they need to be cultivated.”

So how does one cultivate an organizational culture of resilience—the ability to spring back from whatever we face? It is clear to me that the entire organization needs to be thoroughly grounded in purpose. Staff need to know exactly what the organization stands for. They need to see the ways the mission is being carried out every single day. They need to know the organization’s vision—and they need to understand the link between day-to-day activities and this vision.

Here are four of the top things that we have been doing to cultivate resilience at The Fedcap Group:

1. Establish BOLD Goals that Inspire: In December 2019, The Fedcap Group established five bold goals to fundamentally improve the long-term economic well-being of the following groups: Children ages 0-8, the previously incarcerated, the chronically unemployed, youth transitioning from foster care, and people with intellectual/developmental disabilities.

2. Focus on Measuring Impact: We are measuring the difference we are making in people’s lives through research. We are dedicated to knowing all we can about the short- and long-term difference we are making.

3. Structure for Efficiency and Accuracy: A nimble, elastic organization can rapidly pivot because the structure allows for it—in fact anticipates the need to rapidly pivot. We are continually refining our structure.

4. Ensure the Workforce is Future Oriented / Knowledgeable About Market Trends and is Prepared to Act: Train existing staff and hire and orient new staff to be students of our profession, to know our market and to understand trends that impact service delivery. We are intentionally investing significant resources in professional development and onboarding.

It is very difficult to bounce back from the unexpected and the unprecedented. Our instinct is to simply react. The time for reaction is over. It is time to act.

As always, I welcome your thoughts.

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Thanks-Giving is a Good Idea Every Day

Thanks-Giving is a Good Idea Every Day

November 23, 2020

In just a few short days, it will be Thanksgiving. For many, it will look and feel quite different than past years. With the pandemic just outside our doors, many of us won’t be traveling. To keep our loved ones safe, the holiday will be simpler, smaller.

And while it might seem counterintuitive, I thought, given the times, it might be valuable to consider some interesting perspectives on the importance of gratitude in times of adversity.

There is a growing body of research that suggests that the practice of gratitude results in more positive emotions, less stress, reduced sick days, a greater sense of confidence, and higher satisfaction—even in times of great adversity.

According to Robert Emmons, author of “The Little Book of Gratitude: Creating a Life of Happiness and Well-being by Giving Thanks,” and a leading researcher on the subject, “Not only will a grateful attitude help in times of crisis—it is essential. In fact, it is precisely under unfavorable conditions when we have the most to gain by a grateful perspective on life. In the face of demoralization, gratitude has the power to energize. In the face of brokenness, gratitude has the power to heal. In the face of despair, gratitude has the power to bring hope.” In other words, gratitude can help us cope with hard times.

Gratitude takes people outside themselves and to a place that is part of a larger, more intricate network of sustaining relationships.

There is a quote by Kristin Armstrong I find especially noteworthy. “I write about the power of trying because I want to be okay with failing. I write about generosity because I battle selfishness. I write about joy because I’ve known sorrow. I write about faith because I almost lost mine, and I know what it is to be broken and in need of redemption. I write about gratitude because I am thankful – for all of it.”

And this impacts the overall attitude of our workforce. Researchers from the London School of Economics, in analysis of 51 companies, found that while financial incentives may or may not work when it comes to motivating employees, there is overwhelming evidence that gratitude and appreciation are highly effective motivators for staff. They found that 80% of employees are willing to work harder for an appreciative boss.

“We tend to think of organizations as transactional places where you’re supposed to be ‘professional,’” says Ryan Fehr, an assistant professor of management at the University of Washington, Seattle, who recently published a paper summarizing the landscape of gratitude in business. “We may think that it’s unprofessional to bring things like gratitude or compassion into the workplace, yet evidence suggests that gratitude and appreciation contribute to the kind of workplace environments people want to be part of.

Happy day of gratitude and giving of thanks!

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