UK Bosses ignore Employee Achievements
According to research conducted by loyalty firm Nectar Business, 48% of 250 small business owners polled admitted they did not do enough to recognise and reward good performance by staff.
Yet 81% said they believed that rewarding staff is directly linked to a highly motivated and successful workforce; and 84% agreed that when hard work goes unnoticed, staff feel undervalued and lose motivation.
Charles Humphreys, head of Nectar Business, said the survey results suggested that small businesses might feel that rewards for staff need to come in the form of big bonuses or expensive gifts. But simple things can help a business to retain staff.
“Although money is obviously a good motivator, there are other things that can work very well such as team days out, team–building exercises and even early finishing on a Friday,” he said.
The survey also found that just 23% of respondents had a reward scheme, and 77% agreed they were not doing enough to hold on to their employees.
“Recognition schemes are important for staff morale and productivity and rewarding a business or team for good work helps staff to think positively about the company they work for, whatever size,” said Humphreys.
Chartered Institute of Personnel and Development rewards specialist, Charles Cotton, added:
“Saying thank you doesn’t cost much. But when employees have their achievements and contributions recognised it has a positive impact on their engagement levels. It helps keep down absenteeism and staff turnover, and increases performance. It reinforces the attitudes and performances needed from employees for the organisation to be successful.”
Cotton said line managers were the most obvious people to offer recognition to employees performing well, but some small business owners may be unwilling to give managers the power to offer this, fearing it might signal favouritism.
However, he pointed out, many organisations report that their employees leave because of relationships with their line managers rather than as a result of monetary issues.
“It therefore makes sense to offer rewards,” he said.