NEW DELHI, November 14, 2016 /PRNewswire/ --
A Majority of Employees Feel Underappreciated by Their Bosses and With a Little More Acknowledgement, They Would Happily Work Harder and Stay on Longer in Their Current Jobs
Being appreciated for one's work is an excellent motivator that can stem attrition and improve employee morale, finds a recent TimesJobs study. Nearly 90% of India Inc. employees say they will stick around longer if they feel appreciated for their work, reveals a study by TimesJobs. The study, which surveyed more than 1,600 employees, further reveals that 82% employees are willing to work harder if their bosses appreciate them.
"A happy employee is the best brand ambassador for a company. Companies should ensure this by appreciating, recognizing and rewarding your employees. It is a highly effective and proven strategy for improving employee engagement and business output. A well-planned and executed employee appreciation and recognition program has the power to impact a business like nothing else. Therefore, creating a formal structure for employee recognition is very important," says Nilanjan Roy, Head of Strategy, Times Business Solutions.
While most employees value appreciation at their workplace they don't seem to get it quite often, only 41% employees feel they are appreciated at their current place of work, the study reveals.
59% employees say their bosses don't show enough appreciation
While appreciation is extremely significant for employees, organizations seem to downplay its importance, as 59% employees say their bosses don't show enough appreciation for their work.
An industry-wise analysis shows that 87% IT, telecom, ITeS and internet employees don't get much appreciation from their bosses. Nearly 75% employees in automobile sector and 70% in BFSI sector said 'no' to any sort of appreciation from their bosses. However, manufacturing and retail sectors seem to be quite appreciative of their employees with 52% of its staff claiming there is enough appreciation from their bosses.
A gender-wise analysis shows that 85% male and 63% female employees feel there is not enough appreciation from their boss at work. While about 62% junior level, 80% middle level and 50% senior level employees claim a lack of appreciation at workplace.
"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 review sites all play a major role in ensuring an attractive employer brand," says Roy.
70% employees feel acknowledged when given clear opportunities for promotion
It's not a tough task to make employees feel valued at work. About 70% employees say they feel appreciated if offered career advancement opportunities at their workplace. For 44% appreciation lies in regular rewards and recognitions, 37% find that the best form of appreciation is in a pay raise while 22% feel valued when given a more challenging work profile, reveals the TimesJobs study.
Nearly 20% employees say they feel appreciated when allowed flexibility options, such as work from home and telecommuting. And 11% say more authority in decision-making makes them feel appreciated.
While a sustainable competitive advantage can be achieved by simply keeping employees happy, employers in India, have a long way to go. Only 22% employees said they received appreciation every time they performed well last year, while 60% employees say they had rarely been appreciated for their good work last year. A further 18% stated they were never appreciated.
Other interesting insights revealed in the TimesJobs Study -
On appreciation practices at their workplace:
- 52% feel their boss appreciates co-workers more
- 22% feel their boss appreciates employees who are new to the system
- 19% feel their boss appreciates employees who have more experience
- 7% feel their boss appreciates female workers more
On having a formal employee appreciation and recognition program:
- 63% employees say they have no such program at their workplace
- 37% employees say they have a formal rewards and recognition program in their company
On having a metrics to assess recognition efforts:
- 72% say there is no such measure for assessing recognition efforts in their company
- 28% say their company does not have an assessment mechanism in place for evaluating the impact of recognition efforts
People are a core business lever any successful business enjoys today. The soft aspects of the workplace, its employee engagement, culture, values, policies, etc. contribute significantly to attracting and retaining the best talent. And this study clearly points to the tremendous upside, which companies that effectively appreciate their employees can enjoy - a higher return on investments, equity and assets.
TimesJobs, a flagship business of Times Business Solutions (TBS), is a platform to help competent professionals make smarter career decisions. With over 25 million registered jobseekers across the board and more than 60 million page views every month, it is fast becoming the most preferred career portal among the candidates.
TimesJobs is leading in the recruitment and employment space with its pioneering and dynamic divisions because it successfully meets all the needs of the jobseekers. Its major platforms include:
- TechGig: India's biggest dais for tech professionals to help them Learn, Showcase and Compete in the IT industry.
- JobBuzz: A well-known portal that provides information and insights about different companies, job profiles and interview processes.
- StepAhead: StepAhead offers professional resume writing and distribution services, career astrology, and resume improvement to help jobseekers accelerate their career.
Also, TimesJobs has the largest collection of jobs in the market, which ensures that whenever and wherever there is a great opportunity, jobseekers will discover it on the platform.
In the recruitment market as well, being the biggest platform for competent professionals who think of their careers first, TimesJobs has become the destination of choice for recruiters who seek to engage with the right talent.