More than half (56%) of respondents working for small and medium-sized (SME) organisations do not feel like they are being recognised in full for their merits, according to research by Capterra.
However, the research, which surveyed 315 employees, also found that more than three-quarters (78%) said they would work harder if they felt more appreciated.
The three most common ways in which employees receive recognition are verbal thank yous (34%), treats (such as thank yous) (15%) and monetary benefits (13%). Respondents also indetifed these options as the most desirable forms of recognition.
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The two most common ways of giving recognition are one-to-one with a manager (36%) and informally within teams (29%).
Sonia Navarrete, content analyst at Capterra, said: “The results of this survey are a strong indicative that employee recognition is highly valued by workers. It is, therefore, vital for [organisations] to be prepared to provide employees with the appropriate way of recognition.
“Employee recognition is key to retaining talent long term. Moreover, the results showed that employees are more interested in personal recognition such as verbal thank yous or treats rather than monetary recognition.
“In addition, the results showed that Millennials seek recognition more often in order for them to be engaged at work, with a 41% of them stating that employee recognition is a strong motivator for them.”