New research shows how recognition could be a countermeasure to high turnover
Are you looking to retain your top talent in the face of an increasingly tight candidate market? The answer could be as simple as saying “thank you”. New research from Eagle Hill Consulting found that 21% of workers have never been recognised for their efforts in the workplace, as 47% said they would like to receive more recognition for their work.
"Our research signals that employers need to double down on employee recognition programmes. Far too many employees are burnt out from their workload and say they aren't recognised their efforts," said Melissa Jezior, president and CEO of Eagle Hill Consulting.
According to employees, recognition programmes should be much more frequent (38%), more proactive (36%), more broadly shared across the organisation (30%), easier to provide (26%), and unbiased.
"Failing to acknowledge workers is a recipe for subpar organisational performance and high attrition, the last thing employers need in a volatile economy," said Jezior.
How can employers recognise staff?
The report revealed that employees prefer recognition in the form of the following:
- Cash or gifts (54%)
- Time off (34%)
- A "thank you" email or note (32%)
- Points to choose a reward (23%)
- Experience opportunities like tickets (22%)
- Public recognition (20%)
- Supportive team (20%)
- Employee of the week/month programmes (19%)
"There are ways that employers can quickly set up regular recognition that will get results and are cost effective," Jezior said. "The key to success is creating a culture in which thanking workers is woven into the fabric of day-to-day operations from the top to the bottom, not just a one-off effort that checks the box on recognition."
According to the study, employees who are recognised are more likely to go above and beyond in their responsibilities (53%), stay with their organisation (48%), be more motivated to support their team (43%), and go above and beyond for customers (38%). These findings further prove how reward and recognition are critical as employees fall into the so-called quiet quitting.
Rob Catalano, chief engagement officer at WorkTango, a platform which won as the Best HR Software Companies in Canada, previously said that "recognising and rewarding key behaviours is critical" as companies under rapid business transformation or change management.
"Recognition and rewards support a human being's intrinsic and extrinsic motivators, while at the same time amplifying the values and behaviours that organisations want to see more of," Catalano told HRD. "As companies navigate the changing workplace, a continuous reinforcement of what will support employee and company success is an important part of a sound employee experience strategy."