Its survey of 1,720 employees also found that 47% of respondents want to receive rewards spontaneously, compared to 38% who would like to receive rewards in recognition of good work.
The research also found:
- 15% of respondents think public recognition is the work-related benefit that would make them feel most appreciated at work, compared to team drinks (15%), training (10%), professional mentoring (7%), having a lie in every week (7%) and getting a parking space for a month (2%).
- 10% of respondents want to receive rewards on their birthday and 5% would value being rewarded at Christmas.
- 52% of respondents prefer to celebrate rewards with their families, compared to 39% who would like to celebrate rewards with their colleagues.
- 66% of respondents state that receiving two tickets to a concert of their choice would make them feel appreciated, compared to 34% of respondents who favour receiving three-times the value of the concert tickets being paid into their pay check over the course of a year.
- 35% of respondents value token gifts, such as cake or chocolate, compared to 65% who prefer being given 10 times the monetary value of these selected token gifts in additional salary.
Jamie King (pictured), head of global reward at Xexec, said: “Employee recognition is about motivating and engaging team members by recognising their day-to-day contributions, so it pays to know what rewards will be popular. Employees want things that are going to make a difference to their personal lives and interests, whether that be extra holiday or tickets to a concert of their choice. Indeed the monetary value of a reward is by no means the key concern for employees.
“At the same time, it’s clear that employers need to go above and beyond things like annual bonuses and birthday treats if they really want to make their employees feel loved and appreciated. Regular and spontaneous recognition has a much greater impact on employee engagement.”