Appirio, a global cloud services provider, recently released findings for its Tech Employee Retention Could Be as Simple as ‘Thank You’ report, which surveyed more than 650 tech employees on the issue of what drives employee satisfaction. Surprisingly enough, respondents indicated that “compensation isn’t the foremost driving factor in employee satisfaction — a human connection as simple as saying ‘thank you’ can make a real business impact.” Below are some of the key findings from the report:
- When analyzing a job offer, 60 percent of respondents said that the most important consideration was knowing whether employees at the company feel appreciated by management. Only 4 percent of the respondents were most concerned with knowing how often employees were evaluated for raises.
- 36 percent of respondents ranked team celebratory outings higher than a spot bonus or monetary reward.
- 55 percent of respondents said that they value a “thank you” from their managers for a job well done, while only 8 percent said they’d feel disappointed if the same project didn’t result in a cash reward.
- 47 percent of respondents value open and transparent communication over group recognition (19%), advanced responsibilities (15%), individualized attention (10%), or tokens of appreciation (8%).
“Recruiting tech talent is a problem plaguing the C-suite,” says Harry West, Head of Worker Experience Solutions at Appirio, with an astonishing 90 percent of employers admitting that “finding the right talent is a primary issue facing the executive team.” Appirio’s survey found that “appreciation, connectedness, and emotional safety all outrank compensation as important factors in career decision-making.” Money doesn’t buy happiness, but it seems as though a genuine “thank you” may.
Employees want to be valued in a more substantial and meaningful way, rather than monetarily. As it turns out, throwing more money at you isn’t the most effective way to motivate and empower you in the workplace — being valued and appreciated by your superiors is, however.
Remember, you don’t have to be a manager or boss to express gratitude and appreciation throughout the office. Be the change that you want to see in the workplace, and maybe (just maybe) you’ll start seeing your job and your coworkers in a whole new light.
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