One-fifth (20%) of employees looking for a new job want better reward, incentives or recognition from their employer, according to research by gift cards, incentives and payments provider Blackhawk Network.
Its survey of 1,000 UK employees also found that 23% of respondents wanted improved benefits options from their employers, 80% would feel more valued for their work when receiving rewards from their employer, and 67% wanted to receive recognition for positive contributions at least monthly or on a more frequent basis.
Four-fifths (84%) expressed an interest in being able to recognise their peers for positive work contributions, of which 90% wanted to give a reward or incentive. Despite this, 43% said their employer does not have a reward or recognition programme.
Half (50%) would feel motivated to work in a physical workplace if they received a pay increase, while 39% would feel motivated by a four-day work week.
The research also revealed that 90% have concerns about their current employment and 73% are seeking a new job in 2024. One-third (32%) said flexible working locations are contributing to their reasons to seek out new employment, while 15% are disengaged and apathetic about their current job or employer and 12% are burnt-out.
Chris Ronald, vice president EMEA B2B – incentives, rewards and benefits at Blackhawk Network, said: “Covid, hybrid working and advancements of remote working [technology] have all contributed to a shift in employee behaviour and their expectations. Employers must listen to their employees’ needs or they risk losing them. The fact that so many people in the UK are unhappy with their employment has significant consequences, not just on an individual business level, but also for the wider economy.
“While our research shows that employers are misaligned with their team’s needs, there are proactive steps they can take to bridge the gap. Business leaders need to embrace this transition; acknowledging the evolving work-life demands their employees face and fostering a culture where not only good work but positive workplace behaviours are celebrated and people feel valued.”