88 percent employees willing to stay if appreciated at workplace
Only 41 per cent employees feel they are appreciated at their current place of work.
New Delhi: Being appreciated for one's work is an excellent motivator that can stem attrition and improve employee morale as 88 per cent employees are willing to stay longer if appreciated at work, says a study.
According to a TimesJobs study, a majority of employees feel under-appreciated by their bosses and feel that with a little more acknowledgments, they would happily work harder and stay on longer in their current jobs.
"A happy employee is the best brand ambassador for a company. Companies should ensure this by appreciating, recognising and rewarding employees. It is a highly effective and proven strategy for improving employee engagement and business output," Nilanjan Roy, Head of Strategy, Times Business Solutions, said.
The study further noted that only 41 per cent employees feel they are appreciated at their current place of work.
An industry-wise analysis shows that 87 per cent IT, telecom, ITeS and Internet employees do not get much appreciation from their bosses while the figure is nearly 75 per cent in the auto sector and 70 per cent in the BFSI vertical.
However, things are better in manufacturing and retail, with 52 per cent of the staff claiming there is enough appreciation from their higher-ups.
"Open, transparent and responsive communication both on formal and informal channels is key to success - active use of digital media, social networks and company review sites all play a major role in ensuring an attractive employer brand," Mr Roy added.