Nearly three-quarters (71%) of employees would turn down a higher salary to continue working for an employer that regularly thanks them for their efforts, according to research by One4all Rewards.
Its Thank you report, which surveyed employees in more than 1,000 UK organisations, also found that 71% would prefer to work for an employer that offered an effective reward and benefits package than move to a job with a higher salary.
Some 17% would turn down a job offer if no employee benefits were offered.
The research also found that those which provide a Christmas bonus for their employees and regularly thank their team, are more likely to retain staff.
More than two-thirds (68%) said that being regularly thanked for their efforts would result in increased loyalty to their employer.
However, just 7% of workers are likely to receive a Christmas bonus this year.
Declan Byrne, group director at One4all, said: “The key to an effective Christmas bonus scheme is to make sure it is a sincere thank you that is directly linked to an individual’s efforts.
”It’s a surprise that so many people would forgo a higher salary for a secure benefits package in place. This shows the great investment that employee benefits, rewards and incentives can be for [employers].
“The research highlighted that 20% of those surveyed do not get any form of employee benefits. It is important that all employees are rewarded in some shape or form, because it is an informal way of boosting morale and increasing a organisation’s employer brand.
“It is clear from the research that employers should be aware that employees place benefits and reward as high up on their list of wants from an employer.”