A recent TimesJobs study says that 88% of employees will put their plans of exiting a company on hold, if they are appreciated for the work they are doing. Furthermore, it reveals interesting trends in how appreciation is perceived, and how it can impact performance and culture.
What is the study?
The TimesJobs study was conducted with over 1,600 Indian employees, and uncovered interesting data on appreciation at workplace. The respondents were asked about different aspects of recognition, like if they felt recognised, if their organisation had a formal appreciation and recognition program, and if they would be willing to stay longer in the current organisation if they were appreciated for their work.
What were the results?
The following are the findings of the study:
- 41% of the employees felt appreciated at their current place of work.
- An industry-wise break-up reveals that in IT, Telecom and ITes 87% respondents don’t get much appreciation, 75% in automobile and 70% in Banking, Financial and Insurance sector also denied having being appreciated, whereas 52% of the respondents in retail and manufacturing claimed to have been receiving enough appreciation from their employers.
- 85% of the male respondents and 63% of the female respondents did not feel there was enough appreciation displayed by their bosses. The same figure was 62% at junior level, 80% at mid-level, and 50% at senior level.
- 70% of the respondents said that they would feel appreciated if they were offered a career advancement opportunity, 44% said regular rewards and recognition was enough, 37% preferred a raise, whereas 22% wanted to feel valued by being given more challenging work.
- Additionally, 20% of the employees said that allowing flexibility, like work from home or telecommuting, would make them feel appreciated and 11% said that more decision-making autonomy would make them feel so.
- 22% of the respondents said they received appreciation for every time they performed well within the last year, whereas 60% claimed to have been rarely appreciated for good work last year, and 18% said that they were never appreciated.
- 52% of the employees felt their colleagues were appreciated more, and 22% felt that employees new to the system were appreciated more. 19% said that employees with more experience are appreciated more, and 7% stated that their bosses appreciated female employees more.
- 63% of the respondents said no formal appreciation program exists in their organisation.
What do the results show?
The study shows that there is a glaring deficit in the levels and reach of appreciation and recognition activities, according to the India Inc. employees. To add to the complex challenge, appreciation is perceived differently by different employees, and finding a right balance to cater to everybody’s aspirations will be tough. Furthermore, the fact that 59% of the respondents of the study do not feel appreciated at all reflects to either an absence or ineffectiveness of recognition programs on a huge level, and the numbers are especially alarming for IT-Telecom, Automobile and BFSI sectors. The study reaffirms the values that trusting and recognising your employees, is a sustained, often difficult, yet an important concept in today’s workplace. However, also proven by the study is the fact that, employees are a long way from feeling appreciated and recognised.
Indian organisations have a lot to do, in order to efficiently integrate recognition and appreciation in their core functioning and values. The biggest challenge undoubtedly lies in balancing expectation and ensuring a sustained and effective program, and measuring the impact of the same. Nilanjan Roy, Head of Strategy, Times Business Solutions, rightly says, “A happy employee is the best brand ambassador for a company. Companies should ensure this by appreciating, recognising and rewarding employees.... Employers need to actively engage with their current and future employees, and positive reinforcements are the best way to ensure a powerful employer brand. Open, transparent and responsive communication both on formal and informal channels is key to success – active use of digital media, social networks and company reviews sites all play a major role in ensuring an attractive employer brand.”