Britain has suffered a collapse in productivity with a meagre growth of just 1.4% over the last decade.
We are now 15% less productive per employee than our EU counterparts.
So what’s going wrong? Employees are the lifeblood of the UK economy, yet they can often feel undervalued and may rarely be shown appreciation for the conscientious efforts and loyal commitment.
In 2017, The Employee Awards commissioned an independent survey of thousands of employees, working for a wide variety of commercial and government employers, which yielded some concerning results on a range of employee issues.
In summary, we made the following discoveries regarding employee recognition:
- Over 50% of employees felt that there was a poor culture at their place of work.
- Similarly, 55% of employees felt that they received little or no recognition from their employer.
- More than 53% of employees felt that they were not valued or appreciated by their employer.
- Over 61% of employees said that, in recent memory, they had not received any appreciation from their manager or employer.
- A staggering 90% of employees stated that employer recognition was important to them.
- More than 72% of employees said they would work harder if they were to get more appreciation from their employer.
Another disturbing finding from our research was that 52% of the employees we surveyed stated that they would be actively looking for new employment in 2018. Not only is this a damning indictment of employers in the UK but the implications this will have in terms of the costs of recruiting and training replacements of departing undervalued employees is very daunting.
It is often acknowledged that a company’s most important asset is its employees. With strong leadership, companies can achieve exceptional results with the help of those who work for them.
Although they may be in the minority, there are, undoubtedly, many progressive companies and public bodies that provide their employees with a work culture that engenders high levels of recognition and motivation. We aim to highlight these enlightened employers by featuring them within our Employer Honour Roll which will launch later this year. The aim of this is to provide employers with a public platform to highlight their culture, values and ethics. It will also serve as a valuable resource for prospective job seekers who are looking for more than just a salary in their next role.