15% of young staff value recognition and financial rewards

Reward & Recognition among employees

Around 15% of Britain’s youngest workers said that company recognition and financial rewards would make them feel more valued, according to a new study.

The survey by employee experience platform Achievers was conducted by independent research company Censuswide and polled 2,005 employees in the UK and Germany. The findings highlighted that 21% of those in the 16-24 age group said customer recognition would make them feel more valued, with 19% wanting senior leader recognition.

The study also revealed that while 58% of British members of staff describe themselves as very or somewhat engaged in their current job, 29% feel undervalued, with this climbing to a third in among 16 to 24-year-olds.

Nearly half (49%) of all respondents had been prompted for feedback by employers on how to improve the overall work experience, with 45% saying they had been asked about how to improve culture during the Covid-19 (Coronavirus) crisis and 42% about their post-pandemic hybrid work preferences.

Additionally, 37% of younger workers in the 16-24 age group had been asked for feedback on issues such as racial and social justice, and 41% were questioned about how to improve diversity and inclusion at the business.

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While many respondents feel they are at least being asked how to improve the employee experience, there still seems to be a long way to go to ensure feedback is being turned into actionable improvements, as 20% of overall respondents stated that their employers were not good at acting on feedback.

Jon Maddison, Achievers’ EMEA managing director, said: “Although the results of our survey may seem alarming, there’s still time for most companies to communicate with their people then take steps to boost engagement and prevent churn. The sooner companies act to instil beneficial practices like listening, recognition, and reward into their cultures, the more likely they are to turn this situation around.”