Zarah ChoudharyUK employees feel under-appreciated at work, according to Reward Gateway | Edenred’s new Appreciation Index.
This comprehensive report detailed the importance of appreciation in the workplace, and how focusing on people can provide measurable returns, including increased profit, to both individuals and businesses.
The UK reported the lowest Appreciation Index scores (61.8 out of 100) against the U.S. and Australia, and below the global average of 65.
In comparison, the U.S. scored 66.3, and Australia scored 66.8 in the survey conducted on nationally representative samples in the UK, the U.S., and Australia.
This is especially concerning given the importance of appreciation in enhancing wellbeing and job satisfaction, which can positively impact financial performance.
Crucially for businesses and employers, appreciation helps lower employee turnover, absenteeism and stress – key factors that can drain resources and therefore lower profits.
Research showed that 75% of employees actively explore new opportunities in January, with activity on Glassdoor company profiles increasing by an average of 55% during this period.
This report highlighted that appreciation is not just an effective strategy for fostering employee happiness, but also a smart investment that leads to increased productivity, thereby enhancing overall business results.
The findings have revealed the impact of appreciation as a powerful driver of workplace success, with outcomes of feeling appreciated including working harder (88%), being more engaged (91%), feeling more loyal to their employer (88%) and taking on extra work (73%).
As costs continue to rise and budgets remain tight for many businesses, employees will be looking for the most cost-effective initiatives to improve employee wellbeing, staff retention and productivity.
Nebel Crowhurst, chief appreciation officer, at Reward Gateway said: “The findings from our report make clear that the UK is lagging behind in feelings of appreciation, with women and those in large organisations specifically suffering the most.
“Making an employee feel appreciated, whether this is through benefits at work, or even verbal recognition, has the potential to benefit businesses exponentially, and may be one of the most cost-effective ways to increase not only your workforce’s productivity, but also morale.
“With Blue Monday just around the corner and many people looking to move jobs at the beginning of the new year, January proves to be one of the most difficult months for employees and employers alike.
“The findings of our Appreciation Index show that feeling appreciated in the workplace is of the highest importance to employees, with an overwhelming majority of respondents agreeing that feeling appreciated directly results in positive outcomes – personally and professionally.
“The report also highlights the cost-effectiveness of increasing appreciation in the workplace, with many of the drivers, such as managerial recognition, being free to implement.”
