In the early 1900s, Charles M. Schwab was earning $1 million a year — an almost unimaginable sum at the time. He wasn't a scientist or an inventor. He didn't hold the technical secrets of steel-making.
What he had, according to Dale Carnegie in How to Win Friends and Influence People, was a rare and powerful ability: he could make people feel genuinely valued.
"I consider my ability to arouse enthusiasm among my people the greatest asset I possess, and the way to develop the best that is in a person is by appreciation and encouragement." — Charles M. Schwab
Why This Still Matters in 2025
In a world of dashboards, OKRs, and performance reviews, it's easy to measure output and forget the person producing it. But the research is consistent: people perform at their highest level when they feel valued and supported.
Recognition isn't just good for morale. It builds trust. It strengthens commitment. And it unlocks creativity — because when team members know their contributions matter, they take more ownership and tackle harder problems.
Making Appreciation Practical
Schwab's insight was genuine, but it's also learnable. Here's how I try to put it into practice:
Be specific. "Great work" lands differently than "The way you handled the executive Q&A on Tuesday — that was exactly what we needed." Specificity signals that you were actually paying attention.
Make it timely. Recognition has a short half-life. Acknowledge contributions as close to the moment as possible — not in the next quarterly review.
Encourage growth. Pair appreciation with development. "You did X really well — and I think you're ready to take on Y" shows you're invested in the person's future, not just their last deliverable.
Practice consistently. Appreciation shouldn't be reserved for heroic moments. Make it as routine as a status update. A weekly habit of noticing what's going well costs almost nothing and compounds significantly over time.
A Challenge
Look at your team this week. Who has done something worth acknowledging that hasn't been acknowledged yet?
Pick one person. Be specific. Be timely.
That's the million-dollar lesson — and it doesn't cost a thing.