Stay informed and ready to meet both everyday challenges and long-term planning and policy-making goals, with focused news, practical information, and strategic insights on all HR-related...
April 25 — Being publicly recognized by their employers for the hard work they are doing is worth a lot to some employees—more than a bonus of $5,000 or even higher in some cases, according to a survey by HR software firm BambooHR of Lindon, Utah.
Three out of 10 U.S. employees age 21 and up who were surveyed online in March by BambooHR said they'd want to receive a bonus of at least $2,000 if they had to forgo a companywide e-mail commending their work, while a minority of these—6.6 percent of all respondents—named the $5,000 or greater figure.
Moreover, “one in 5 employees would prefer to receive a promotion to a higher title without a 3 percent raise in salary instead of a 3 percent raise in salary without a promotion to a higher title,” and 68 percent of that minority “would require a 10 percent raise or more in salary to take the money without the promotion to a higher title,” the company said in an April 20 press release.
“What surprised us is how much nonmonetary recognition meant,” Rusty Lindquist, vice president of human capital management strategy at BambooHR, told Bloomberg BNA April 22.
“It doesn't surprise me at all,” Sabrina Son, content marketing specialist at Seattle-based employee recognition company TINYpulse (which was not involved in the survey), told Bloomberg BNA in an April 22 e-mail. “Recognition gives employees a sense of validation for the hard work they put in, and going without recognition for your work and efforts takes a toll on morale.”
“One of the perceptions out there as I talk to HR leaders is that recognition costs money—but it doesn't have to,” Lindquist said. “You can pull people aside and say thank you. People want in-person recognition from their boss, or a personal e-mail from the boss. You can do that without spending any money at all.” He added that the frequency of the recognition the employer offers matters—if it's at least monthly, it makes a significant difference to employee happiness.
Son offered “some steps organizations can take to create better recognition”:
To contact the reporter on this story: Martin Berman-Gorvine in Washington at email@example.com
To contact the editor responsible for this story: Tony Harris at firstname.lastname@example.org
A blog post on the Bamboo HR survey can be found at http://www.bamboohr.com/blog/money-and-workplace-happiness. A blog post by TINYpulse's Sabrina Son on employee recognition can be found at https://www.tinypulse.com/blog/sk-ways-to-say-thank-you-at-work.
All Bloomberg BNA treatises are available on standing order, which ensures you will always receive the most current edition of the book or supplement of the title you have ordered from Bloomberg BNA’s book division. As soon as a new supplement or edition is published (usually annually) for a title you’ve previously purchased and requested to be placed on standing order, we’ll ship it to you to review for 30 days without any obligation. During this period, you can either (a) honor the invoice and receive a 5% discount (in addition to any other discounts you may qualify for) off the then-current price of the update, plus shipping and handling or (b) return the book(s), in which case, your invoice will be cancelled upon receipt of the book(s). Call us for a prepaid UPS label for your return. It’s as simple and easy as that. Most importantly, standing orders mean you will never have to worry about the timeliness of the information you’re relying on. And, you may discontinue standing orders at any time by contacting us at 1.800.960.1220 or by sending an email to email@example.com.
Put me on standing order at a 5% discount off list price of all future updates, in addition to any other discounts I may quality for. (Returnable within 30 days.)
Notify me when updates are available (No standing order will be created).
This Bloomberg BNA report is available on standing order, which ensures you will all receive the latest edition. This report is updated annually and we will send you the latest edition once it has been published. By signing up for standing order you will never have to worry about the timeliness of the information you need. And, you may discontinue standing orders at any time by contacting us at 1.800.372.1033, option 5, or by sending us an email to firstname.lastname@example.org.
Put me on standing order
Notify me when new releases are available (no standing order will be created)