A recent National Employee research survey, commissioned by The Employee Awards, reveals that 52% of employees, across both private and public sectors, are searching for a new employer this year.
What has brought about this level of disenchantment amongst UK employees? There appear to be several key factors at play in this dire situation.
Over the last decade, real wages have not even matched inflation and productivity has increased by an abysmal 1.4% over this whole period. In fact, recent research shows that UK productivity currently lags 15% below the average achieved by our EU competitors.
Many economists point to low levels of capital investment and new technology being to blame for this trend. Whilst this is undoubtedly a contributory factor, the new National Employee research report indicates that it is the lack of attention to the human dimension which is the main issue causing low productivity and creating a vicious circle of low wage increases and diminished profits.
A key factor emerging from the report is the lack of recognition felt by employees from their employers and their managers. Specifically, over 90% of employees said that recognition was important to them, yet 55% of employees felt that they were neither recognised nor appreciated by their employers. Furthermore, 62% of employees stated that they were hardly ever or never appreciated by their boss.
It is generally acknowledged that the people that companies and public sector organisations employ are their most important asset, which, with strong leadership, can motivate a workforce to achieve exceptional results. There are undoubtedly a number of progressive companies and public bodies which provide exceptional examples of a culture which engenders high levels of recognition and motivation amongst their employees. Sadly, such organisations are in a minority.
In response to this situation, The Employee Awards, a not-for-profit Community Interest Company (CIC), has recently been created to provide a national platform to celebrate and recognise people across the country doing great work. The focus is on recognising employees who “go the extra mile” and regularly “make a difference”. In essence, it is about recognising and acknowledging the unsung heroes of the workplace.
The Employee Awards website provides a platform for nominating people for over 20 awards aimed at recognising exceptional employee contributions, culminating in a major Employee Awards event in November.
There is clearly no quick fix for the widespread problems of recognition and a disenfranchised employee workforce, leading to low productivity levels and a desire for over half of employees to seek a new employer in 2018. However, The Employee Awards hopes to be a catalyst in raising awareness of the problems discussed, with a view to making a modest contribution to getting UK productivity growth “back on track”.
About The Employee Awards
The Employee Awards is the first national awards scheme that recognises and celebrates great people doing great work, enabling colleagues and bosses to pay tribute. It is a not-for-profit Community Interest Company with employees at its heart. For more information, visit www.theemployeeawards.com.