Michael Dinich, Wealth of Geeks
Money talks, but gratitude goes further. A new study, commissioned by Motivosity and conducted by OnePoll, finds 55% of people prefer having personalized forms of gratitude given to them in the workplace.
While 52% prefer raises and 28% would rather have a promotion, 2000 workers polled say hearing a simple “thank you” from others at work is far more valuable.
People like also receiving commendations in one-on-one conversations, earning “employee of the month” awards, being given a handshake, picking up a team-based award, or being given a shout-out via messaging apps or email.
Employees want to see appreciation from their leaders — and that gratitude could make or break how long someone stays at their job.
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Appreciation goes a long way
The study further reveals two in five working people don’t feel appreciated by their bosses for the work they do, and 61% wish they were recognized more for their work.
In fact, 69% feel so unappreciated that they would consider leaving their job within the next three months unless their bosses don’t make changes to make them feel more appreciated.
When asked what it would take for them to work for a different company, 64% of respondents say they’d jump ship for as little as a 10% pay increase. Similarly, 47% would leave for a different company for a mere 5% pay increase. A third (32%) wouldn’t even need another company to offer them any more money to leave.
Others were more specific in their requests. If offered a 20% raise, a defined pension plan, remote work opportunities, better work-life balance, and/or a set working schedule, they would put in their two weeks’ notice.
“It’s no surprise that people are looking for raises in our current economy, but that’s not possible for many companies right now,” explains Logan Mallory, Vice President of Marketing at Motivosity. “Still, it’s a mistake for employers to ignore other powerful ways they can show appreciation to the people doing the work! A personal recognition has a massive impact.”
Two out of three employed Americans claim they feel motivated to go to work every day. Yet 81% agree they would feel more motivated if they felt more appreciated for their work. Four in 10 said it would be meaningful to feel recognized and appreciated for the work they do.
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What can employers do?
It’s clear people want to be recognized, but not everyone wants to be rewarded with more paid time off or participate in a few company-provided lunches throughout the year.
Other forms of appreciation could include having important resources paid for by the company, such as an Internet stipend or a company-paid phone plan. Others would be open to gratitude from executive team members, free company merch, and public recognition from the company and team.
It can be hard to keep good employees at jobs when they don’t feel appreciated. Some workers may stay for their coworkers; 48% say they expect to have a few good friends in the workplace, and 15% expect to find their best friend in the workplace.
It can be hard to leave a job, even when employees feel underappreciated or the weight of a toxic work culture. Often, people don’t want to leave their “work family.” This can be really hard for people who may have been at a company for many years, and their coworkers have become a vital part of their lives.
The Harvard Business Review reports its not uncommon for people to stay at a toxic workplace because they have nostalgia for the company when it was run better, or even buy in to a possible cult-like culture at work. Some struggle with the fear of starting over somewhere new.
“It’s not necessarily an employee’s market, but the pendulum will shift again in the future,” Mallory continues. “Employers should use this opportunity to create great cultures where their people are excited to come to work and contribute.
When in doubt, employers should ask their colleagues and teams what will make them feel appreciated. Each company and section is different. For some, a basic “thank you” might mean the world, while others might want to see a more lucrative form of thanks in their next paycheck.
While 52% prefer raises and 28% would rather have a promotion, 2000 workers polled say hearing a simple “thank you” from others at work is far more valuable.
People like also receiving commendations in one-on-one conversations, earning “employee of the month” awards, being given a handshake, picking up a team-based award, or being given a shout-out via messaging apps or email.
Employees want to see appreciation from their leaders — and that gratitude could make or break how long someone stays at their job.
—————
Appreciation goes a long way
The study further reveals two in five working people don’t feel appreciated by their bosses for the work they do, and 61% wish they were recognized more for their work.
In fact, 69% feel so unappreciated that they would consider leaving their job within the next three months unless their bosses don’t make changes to make them feel more appreciated.
When asked what it would take for them to work for a different company, 64% of respondents say they’d jump ship for as little as a 10% pay increase. Similarly, 47% would leave for a different company for a mere 5% pay increase. A third (32%) wouldn’t even need another company to offer them any more money to leave.
Others were more specific in their requests. If offered a 20% raise, a defined pension plan, remote work opportunities, better work-life balance, and/or a set working schedule, they would put in their two weeks’ notice.
“It’s no surprise that people are looking for raises in our current economy, but that’s not possible for many companies right now,” explains Logan Mallory, Vice President of Marketing at Motivosity. “Still, it’s a mistake for employers to ignore other powerful ways they can show appreciation to the people doing the work! A personal recognition has a massive impact.”
Two out of three employed Americans claim they feel motivated to go to work every day. Yet 81% agree they would feel more motivated if they felt more appreciated for their work. Four in 10 said it would be meaningful to feel recognized and appreciated for the work they do.
—————
What can employers do?
It’s clear people want to be recognized, but not everyone wants to be rewarded with more paid time off or participate in a few company-provided lunches throughout the year.
Other forms of appreciation could include having important resources paid for by the company, such as an Internet stipend or a company-paid phone plan. Others would be open to gratitude from executive team members, free company merch, and public recognition from the company and team.
It can be hard to keep good employees at jobs when they don’t feel appreciated. Some workers may stay for their coworkers; 48% say they expect to have a few good friends in the workplace, and 15% expect to find their best friend in the workplace.
It can be hard to leave a job, even when employees feel underappreciated or the weight of a toxic work culture. Often, people don’t want to leave their “work family.” This can be really hard for people who may have been at a company for many years, and their coworkers have become a vital part of their lives.
The Harvard Business Review reports its not uncommon for people to stay at a toxic workplace because they have nostalgia for the company when it was run better, or even buy in to a possible cult-like culture at work. Some struggle with the fear of starting over somewhere new.
“It’s not necessarily an employee’s market, but the pendulum will shift again in the future,” Mallory continues. “Employers should use this opportunity to create great cultures where their people are excited to come to work and contribute.
When in doubt, employers should ask their colleagues and teams what will make them feel appreciated. Each company and section is different. For some, a basic “thank you” might mean the world, while others might want to see a more lucrative form of thanks in their next paycheck.
