EXCLUSIVE: Almost three-fifths (58%) of employer respondents with between 10 and 49 members of staff state that showing appreciation is a natural part of their culture, compared to 20% of those that employ 250 to 500 staff, according to research by Reward Gateway.
In a survey of 150 HR professionals, 250 managers and 500 employees, it was also found that only 8% of HR professionals working at businesses with more than 500 members of staff strongly agree that their current recognition and reward programme is as effective as it could be.
More than four-fifths (84%) of HR professionals believe that an effective reward and recognition programme can help drive business results, while 85% feel that this positively impacts employee retention; 73% are likely to invest in recognition and reward within the next year.
However, 45% of HR respondents do not think that their current recognition and reward programme is as effective as it could be. Linked to this, only 16% of managers strongly agree that their organisation provides them with the tools to recognise team members’ achievements, while 26% struggle to find the time to give thanks and praise.
Half (50%) of employees say that they would leave an organisation that did not praise or thank them enough. A further 61% would rather work for a business that had a culture where staff were praised and thanked regularly for doing good work, versus an organisation that paid 10% more, but provided no praise or thanks.
Doug Butler (pictured), chief executive officer at Reward Gateway, said: “While it’s great to see so many HR leaders understanding the positive impact of employee engagement on business, traditional methods and manual processes to achieve current workforce employee engagement goals are no longer an option.
“What employees want is continuous, instant and impactful recognition which reflects the ‘always-on’ workplace culture and the ‘always connected’ personal life many now have.”