HR Masterclass Series: High-level HR strategy training workshops
with topics ranging from Analytics, to HR Business Partnering, Coaching, Leadership, Agile Talent and more.
Review the 2020 masterclasses here »
Have you ever thought about exactly how much saying “thank you” is worth to employees?
A new survey out of the UK has discovered not only that the majority of UK employees don’t feel they get thanked enough at work (58%) but that regularly saying the words “thank you” and making them feel regularly appreciated is worth about £1,608 (S$3,406).
According to the Monster.com survey, 41% feel demotivated due to the lack of thanks, and close to four in ten bosses (41%) themselves acknowledge there’s not enough “thanks” going around their workplace.
But that might change when employers realise just how much the simple gesture could mean to staff.
“On average, employees would want to be paid an extra £134 (S$284) a month – or £1,608 (S$3,406) a year – for never being thanked at work to compensate for the lack of appreciation,” the report stated.
The awareness of the importance of a simple thank you comes at a much needed time, when the survey of 2,000 employees found 11% consider their bosses ungrateful and 8% cited their bosses as lacking manners or even being downright rude (3%).
In addition, 63% of employees feel a simple verbal thank you is more important than a pay rise when attempting to thank an employee who has gone the extra mile.
“Saying thank you is the type of small change that can have a big impact in the workplace,” Andrew Sumner, managing director, Monster.co.uk in the UK and Ireland, said.
“Managers may be seeing the value in saying thanks, but are struggling to communicate it in a clear way to their staff,” he added.
Human Resources magazine and the HR Bulletin daily email newsletter:
Asia's only regional HR print and digital media brand.
Register for your FREE subscription now »