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Work appreciation an effective tool to stem attrition: Times Survey

By   /  November 2, 2016  /  Comments Off on Work appreciation an effective tool to stem attrition: Times Survey

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Mumbai: The power of work appreciation has multiple benefits in employee engagement.  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. 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. However, 59% employees says their bosses don’t show enough appreciation.

“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 appreciation is extremely significant for employees, organizations seem to downplay its importance, as 59% employees says 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.

70% employees feel acknowledged when given clear opportunities for promotion

Nearly 20% employees say they feel appreciated when allowed flexibility options, such as work from home & 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.

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