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A new study has revealed that employees are fed up with a lack of recognition in the workplace, as their hard work goes unnoticed and unrewarded.
Perkbox Australia’s HR Trends 2023 report, in partnership with YouGov, revealed that a quarter of Australian employees believe they aren’t rewarded or recognised for good work. Just 67 per cent believe that they are, and the remaining 8 per cent aren’t sure.
“This study shows that Australia is fast becoming a country of thankless work,” said Ross McDonald, Perkbox Australia’s country manager.
“There’s a pervasive culture that simply ticking a box is enough, and that’s short-changing both employees and employers. For employers, it’s creating a culture of mediocrity but also eroding workplace loyalty among their staff. For employees, on the other hand, it’s giving them little incentive to do their best work and excel in their career.”
Older workers were more likely to experience these issues, with 43 per cent of Baby Boomers and 35 per cent of Gen X claiming they aren’t rewarded or recognised for hard work. This dropped to 15 per cent of Millennials and Gen Z employees.
Meanwhile, small businesses were more likely to promote these issues, as 35 per cent of employees working in small businesses said that they are not rewarded and recognised for good work. This dropped to 21 per cent of medium to large businesses.
Mr McDonald said that it’s crucial that organisations review their reward and recognition policy, as it could erode healthy workplace culture if not addressed.
“Rewarding your team and recognising milestones should be a key component of any company’s retention toolkit. We’re genuinely surprised by the result of this study, as in a market where unemployment is at a near-generational low, companies should be pulling out all the stops to keep their team motivated and engaged,” Mr McDonald explained.
While employees are feeling undervalued, business leaders aren’t, as 90 per cent of senior managers said that they’re rewarded and recognised for their hard work. This divide highlights a disconnect and could even prove that more attention is placed on leadership.
Mona Akiki, chief people officer at Perkbox, said it’s important to “realise the growing importance of recognising and rewarding their people in a consistent, meaningful and personal way. While companies want to do well by their people, they are also quickly realising that achieving their purpose and vision requires specific employee behaviours, which can be celebrated and ultimately influenced by a proper rewards strategy.”
The importance of implementing an effective reward and recognition strategy was proven in the data, as both managers and employees agree that these systems would encourage better work.
Sixty-seven per cent of managers and 62 per cent of employees noted that they’d be more willing to go above and beyond in their work if these systems were in place.
Similarly, 51 per cent of managers and 55 per cent of employees would stay at their organisation longer if there was a better focus on reward and recognition.
“This has a positive impact on all of the key organisational goals — whether it’s attraction, retention, driving revenue, or ensuring employees are motivated to go the extra mile. Those companies who have a well-planned reward and recognition program are the ones who’ll win the hearts and minds of top talent,” said Ms Akiki.
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