British bosses are failing to recognise the importance of expressing gratitude to their staff, impacting staff retention figures, reports Kimberley Dondo
According to a survey by One4all Rewards, as part of the Rewards Review, 77% of workers reported that they don’t even receive a regular thank you from their boss.
The impact of how truly effective such a simple gesture can be to staff is clear as almost 1 in 3 (31%) said they would be ‘very unlikely’ to leave a company that regularly shows appreciation for their work. In many cases, this doesn’t mean it has to be a costly expression of gratitude.
Declan Byrne, UK managing director at On4all Rewards, shares a similar sentiment, stating: “It’s amazing to see how many companies are overlooking the very basics of maintaining positive employee morale - clearly in UK business the power of a simple thank you, or even a more tangible expression of gratitude such as a small reward or benefit, is being regularly overlooked, despite the huge impact it can have on staff retention.”
With 83% of the UK workforce admitting that being regularly thanked by an employer increases their sense of loyalty to their company and a further 24% saying a show of gratitude would make it harder for alternative job offers to tempt them away, this reinforces power of gratitude.
Byrne adds: “This is particularly valuable for employers to bear in mind at a time of year when traditionally many workers assess new opportunities and look at what’s out there in the jobs market - January is an excellent time for employers to turn over a new leaf in this respect, and make expressing gratitude a regular habit in their company.”
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