When employees feel their work is going unnoticed, they become less productive or may even decide to find a new job, both which can hurt the company’s bottom line. For employers, the challenge is to find ways to show employees how appreciated they are in ways that feel genuine and motivate the employee to work hard every day.
A recent survey conducted by Rymax Marketing Services highlights the importance and benefits of employee rewards and recognition.
The survey, which included over 200 employees from across the US, found that being publicly recognized and rewarded for hard work has an enormous impact on how employees feel about their workplace. The infographic below shows some of the key findings from this survey, including:
- Only 15% of respondents said they feel valued at the end of the workday
- More than 1/3 of employees said receiving verbal or public recognition from their manager would motivate them to work harder
- 26% of employees surveyed don’t remember the last time they were recognized by their manager or peers
Many respondents also indicated that management that encouraged an interactive work environment with peer-to-peer recognition that bolstered camaraderie was important to them. When asked what they looked for in seeking their next role, 72% of respondents indicated they are looking for an environment where employees are respected, valued and rewarded.
Although a simple “thank you” can go a long way, 69% of respondents said that if they were rewarded at work for their efforts they would feel more appreciated and motivated. This is why having an effective employee recognition program in place is important for all employers, no matter how large or small. The more motivated an employee feels, the harder they will work toward increasing the company’s bottom line.