Recognition as valued as the annual bonus

Almost half (45%) of respondents prefer frequent recognition rather than an annual bonus, according to research by Globoforce.

Its 2013 UK Workforce mood tracker, which surveyed employees from a range of organisations with 500 or more staff, found that 81% of respondents believe recognition and reward should be distributed more fairly throughout organisations, instead of being confined to senior executives.

The research also found:

  • 77% of respondents like to have their efforts at work recognised.
  • 73% said recognition motivates them to do a better job.
  • 20% of respondents feel that recognition is the most important part of a job.
  • 29% have left a job because they were not recognised for the work they do.
  • 42% are looking for a new job due to a lack of recognition in their current role.

Derek Irvine (pictured), vice president of client strategy and consulting at Globoforce, said: “The opportunity exists for employers to incorporate more collaborative ways to acknowledge workers’ efforts.”