Date post: | 13-Jun-2015 |
Category: |
Documents |
Upload: | one4allgroup |
View: | 1,096 times |
Download: | 2 times |
We all like to feel that our efforts are noticed and appreciated
by those around us. In the workplace this is crucial to our
motivation and performance.
Therefore, understanding how to harness the power of ‘thank Therefore, understanding how to harness the power of ‘thank
you’ is crucial to good leadership and the efficient operation of
any organisation.
In this report we show you the results of a research study* into
how businesses say ‘thank you’ to their staff and how to do so
in the most effective way possible.
At One4all, helping organisations to say thank you effectively At One4all, helping organisations to say thank you effectively
is our business. We help structure and fulfill programmes of
rewards and incentives that help stimulate desired behaviours.
We can only do this by understanding the power of saying
‘thank you’ effectively.
So thank you for taking time out to read this report. So thank you for taking time out to read this report. We believe
that it contains some simple lessons that will help your organi-
sation to be a more efficient, motivated and happy place to
work.
Declan Byrne
Managing Director – UK
One4all Group
*Survey of a representative sample of 1,000 UK employees, carried out in summer 2014
Just one in four employees in the UK feel that they receive sufficient thanks for the work that they do, so there is clearly some room for improvement when it comes to harnessing the power of thank you.
The most common form of recognition experienced by workers The most common form of recognition experienced by workers is a simple ‘thank you’ from their boss when work is done well (32%).
Just under a quarter of employees (24%) receive a tangible thank you in the form of cash or gifts at least once a year.
Incentive schemes, linked to hitting set goals or milestones, Incentive schemes, linked to hitting set goals or milestones, are the most common form of tangible reward (11% of work-places).
Just 7% of workplaces still abide to the tradition of a Christ-mas bonus.
20% of employees say that they never receive any form of thanks from their employer
ClearlClearly, we want to be rewarded for the work that we do, but
ultimately it's the personal recognition that makes a ‘thank
you’ so powerful. We want to know that we are seen as an
individual, not just one of a number, and that the personal time
and dedication we have committed has been noticed.
The research shows that the key to using ‘thank youThe research shows that the key to using ‘thank you’ to
increase motivation is for it to be sincere and based on a
person’s individual efforts.
For example, when a ‘thank you’ is in the form of cash or gifts,
having a reward linked to individual effort or attainment is 2.5
times more important to employees than the actual size of the
reward.
And yet, only 50% of bonuses or rewards given to people in And yet, only 50% of bonuses or rewards given to people in
our study were linked to individual efforts. The rest were given
to a whole business or team regardless of how each individual
had performed.
Our findings indicate that such schemes can actually underOur findings indicate that such schemes can actually under-
mine motivation, making people think that their individual
contribution does not matter as much and that the ‘thank you’
is not meant sincerely.
Just one in four employees in the UK feel that they receive sufficient thanks for the work that they do, so there is clearly some room for improvement when it comes to harnessing the power of thank you.
The most common form of recognition experienced by workers The most common form of recognition experienced by workers is a simple ‘thank you’ from their boss when work is done well (32%).
Just under a quarter of employees (24%) receive a tangible thank you in the form of cash or gifts at least once a year.
Incentive schemes, linked to hitting set goals or milestones, Incentive schemes, linked to hitting set goals or milestones, are the most common form of tangible reward (11% of work-places).
Just 7% of workplaces still abide to the tradition of a Christ-mas bonus.
20% of employees say that they never receive any form of thanks from their employer
Organisations that know how to say ‘thank you’ effectively find
it easier to recruit and retain the best staff.
Salary is just one of the factors people consider when weighSalary is just one of the factors people consider when weigh-
ing up what their job is worth to them. Feeling appreciated
and wanted is also a powerful part of job satisfaction.
When assessing a new job, 71% of people would forgo a
higher salary in favour of an organisation where they believe
an employer regularly thanks its staff for their efforts.
17% of people would actually turn down a job offer if they
didn't believe an employer would show appreciation for their
work.
Within existing staff, 68% of people say that they would be
more loyal to employers that regularly thank them for their
efforts.
34% of people say they would be very unlikely to leave a job 34% of people say they would be very unlikely to leave a job
where they were regularly shown appreciation for their work.
Just one in four employees in the UK feel that they receive sufficient thanks for the work that they do, so there is clearly some room for improvement when it comes to harnessing the power of thank you.
The most common form of recognition experienced by workers The most common form of recognition experienced by workers is a simple ‘thank you’ from their boss when work is done well (32%).
Just under a quarter of employees (24%) receive a tangible thank you in the form of cash or gifts at least once a year.
Incentive schemes, linked to hitting set goals or milestones, Incentive schemes, linked to hitting set goals or milestones, are the most common form of tangible reward (11% of work-places).
Just 7% of workplaces still abide to the tradition of a Christ-mas bonus.
20% of employees say that they never receive any form of thanks from their employer
As well as the immediate benefits of saying ‘thank you’ effec-
tively – higher staff motivation and better retention and recruit-
ment – it is also an excellent way of building an organisation’s
reputation.
Reputation is an intangible asset, but one that can represent
up to 80% of a company’s value. It is based on how an organi-
sation is perceived against a wide set of positive attributes.
Organisations that regularly say ‘thank you’ are believed to
also be better in a number of ways according to our study.
They are perceived to be:
• better at caring for employees.
• better at treating their customers well.
• better at being fair.
• better led and managed than other organisations.
• better able to be trusted.
Just one in four employees in the UK feel that they receive sufficient thanks for the work that they do, so there is clearly some room for improvement when it comes to harnessing the power of thank you.
The most common form of recognition experienced by workers The most common form of recognition experienced by workers is a simple ‘thank you’ from their boss when work is done well (32%).
Just under a quarter of employees (24%) receive a tangible thank you in the form of cash or gifts at least once a year.
Incentive schemes, linked to hitting set goals or milestones, Incentive schemes, linked to hitting set goals or milestones, are the most common form of tangible reward (11% of work-places).
Just 7% of workplaces still abide to the tradition of a Christ-mas bonus.
20% of employees say that they never receive any form of thanks from their employer
There are very tangible and measurable financial benefits to
organisations that can learn how to say ‘thank you’ effectively.
Here’s a collection of facts and figures that underline the
business case.
Greater motivation can boost performance by as much as 44% Greater motivation can boost performance by as much as 44%
source: Incentive Research Foundation
Every staff member you retain saves your business 30 to 50%
of that person’s annual salary (more if it's a senior member of
the team)
Source: Society for Human Resource Management
People place a large value on working for an organisation
where they trust their bosses. Research shows that a 10%
increase in trust in management is equivalent to a 30%
increase in pay
source: National Bureau of Economic Research
Learning to say ‘thank you’ effectively is clearly a powerful tool to growing a successful, efficient and
happy business. Harnessing this power will set you apart from other organisations, making you part of the
1 in 4 that gets it right.
Showing gratitude is so important that it can’t be relied upon just to happen out of politeness and good Showing gratitude is so important that it can’t be relied upon just to happen out of politeness and good
relationships. To be effective, each ‘thank you’ should be part of a clear and consistent internal procedure,
given in consideration of an individual doing a great job.
Size is not the crucial factor – sincerity is. Saying ‘thank you’ in this way let’s people know that they are
playing an important role in the overall success of the organisation and would be missed if they weren’t
there. This is a deeply rewarding emotional ‘bonus’ that can’t simply be measured in terms of money.
So how do you know if you're doing it right? Start by asking yourself the following questions:
• Who in my organisation would I miss most if they weren’t there?• Who in my organisation would I miss most if they weren’t there?
• When was that person last made aware of how grateful I am for the work that they do? (If it’s less than
once a week, that’s below the national average).
• Are this person’s efforts regularly acknowledged and rewarded over and above the level that they would
be for someone who did that job less well?
• If not, how could they be?
• How could I extend that same approach to everyone in the businesses, whether I have sight of their daily • How could I extend that same approach to everyone in the businesses, whether I have sight of their daily
contribution to the organisation or not?