Simple ways to recognise undervalued staff and attract the best talent
There are only so many roles in a business, including managerial and leadership positions. Even when you employ many talented people who may be ready to progress, there may be times when there's no readily available progression path.
So, what happens when an employee is ready to climb the ladder but you don’t have a more senior role to offer?
The risk is that they’ll feel undervalued or overlooked unless you have a robust employee benefit and reward strategy in place to reinforce your appreciation.
Show a little appreciation
Pluxee UK shares that more than half (53%) of employees would stay longer at their company if they felt more appreciation from their employer.
Nearly three-quarters (74%) of employees say that a potential employer's benefits package forms an integral part of their decision-making process when considering moving.
From a culture and employee experience perspective, you’ll want all employees to feel included and recognised. You’ll want them to understand how their activities feed into the overall business goals and believe that their employer sees the value they add.
The stark reality is that employees are less likely to stay if they don’t see how they fit within your business.
If the end result is loss of talent, then the conversation should focus on employee retention strategies, and employee benefits can go a long way toward encouraging employees to stay with a business.
The role of employee benefits
During its November 2023 Employee Retention research, Pluxee UK asked more than 1,000 UK employees several questions, including, "If you are considering a job change in the new year, what would be the primary thing your current employer might offer that would influence your decision to stay?"
The top answer, with 36.93% of the vote, was financial benefits and incentives.
Some employers stagger their benefits offering based on role and seniority. However, we’re exploring a scenario where an employee may meet a more senior role criteria, but there’s no space for them to progress.
In this instance, a tiered approach to employee benefits will negatively impact the employee, increasing their belief that they’re undervalued.
An inclusive approach to employee benefits, where a business offers all employees the same financial, physical, and mental wellbeing support, will boost their sense of belonging.
The power of reward
Recognition plays a more significant role, with two-thirds (66%) of employees saying they would “likely” leave their jobs if they didn't feel appreciated.
Reward and recognition often go hand-in-hand, with rewards given to those receiving recognition.
In their blog on Maslow, Herzberg and Pink's Motivational Theories in the Workplace, Pluxee UK explores Maslow’s hierarchy of needs and list of motivators, which has ‘advancement’ in the second layer of the pyramid and recognition at the top.
Each layer or stage must be met to be most effective. Yet, in the absence of advancement, recognition through reward is essential to maintaining high engagement, motivation and retention levels.
More than four-fifths (83%) of employees say they work harder when they’re shown appreciation.
Peer-to-peer recognition is incredibly powerful. Having your direct manager recognise your achievements is one thing, but that feeling of self-worth and value is enhanced when your peers see it, too.
Peer-to-peer recognition platforms nurture a sense of camaraderie amongst colleagues, creating space for everyone to shine.
Feeling undervalued and overlooked can cause resentment, with the risk of employees working in siloes or in isolation in an attempt for their efforts to be noticed above those of others.
Pat on the back
Competition can be healthy, but not when it sets colleagues against each other.
Encourage your teams to give praise when deserved, creating a culture of appreciation and a more harmonious workplace.
Experience matters and if you provide a supportive mix of employee benefits alongside an inclusive reward strategy, you’re in a stronger position to retain talent - especially when advancement opportunities are limited.
In partnership with Pluxee UK
Pluxee UK, is a leading employee benefits and engagement partner that opens up a world of opportunities to help people enjoy more of what really matters in their lives.
