ONE-THIRD OF ALL EMPLOYEES IN THE UK – A STAGGERING 10 MILLION PEOPLE – FEEL UNDERVALUED AT WORK
• Eight in ten undervalued employees are looking for a new job elsewhere
• Over half of employees say productivity increases when they feel appreciated
• Rewards including gift cards would help workers feel more valued
• National study by leading multi-retail redemption provider Love2shop
One-third of all employees in the UK – almost 10 million people – feel undervalued at work, according to new national research revealed today.
The ‘Love2shop Report’ commissioned by Love2shop, was designed to lay bare the scale of workplace happiness in 2022.
It reveals the true value of employee rewards, with three-quarters of people (75%) saying companies who gift staff regularly are likely to attract a better calibre of employee, and 52% saying productivity increases when they feel valued by their employer.
The report also found 41% of those who feel undervalued believe regular rewards by their employer would give them a greater sense of value, with the same number saying gift vouchers from their employer throughout the year would make them feel more appreciated.
Nearly four-fifths (79%) of undervalued employees are looking for a job elsewhere, with that figure increasing to nine out of ten (90%) among the youngest demographic aged 18-24.
The Love2shop Report found UK companies spontaneously gift employees an average of just 1.3 times a year, despite respondents reporting this number should rise to 2.3 times a year for employers to make staff feel valued.
There is also a gender divide when it comes to workplace gift giving, with men receiving an average of 1.5 gifts a year compared to women receiving 1.2, the research found.
Elsewhere, nearly half the report’s respondents (46%) have never received a spontaneous gift from their employer, while more than a third (36%) say their employer never, or hardly ever, acknowledges their work or actions.
Shockingly, just 12% of employees strongly agree that their employers are generous.
When it comes to a professional breakdown of happiness in the workplace, employees in publishing and journalism reported feeling the least valued at work, followed by those in the performing arts, then the environment and agriculture sectors.
At the other end of the scale, property and construction, insurance and pensions, and law were the top three professions when asked about feeling valued at work.
People in law enforcement and community reported receiving the fewest spontaneous gifts from their employer per year, at just 0.3, while those in business, consulting and management came top, with 2.4 per year.
In terms of a geographical breakdown, workers in London and Northern Ireland feel the least appreciated, with an average value rating of five out of 10 closely followed by those the East Midlands (5.5). Employees in the South West feel most valued (6.5), ahead of people in the West Midlands (6.1) and the North West (5.9).
Elsewhere, a whopping 92% of workers who feel undervalued in the capital are currently looking for a new job, compared to only 42% of the same people in Yorkshire and the Humber.
When it comes to rewards, six out of 10 employees say that days off, flexible working and gifting multi-retailer gift cards are the best ways of showing appreciation.
If they were to receive a multi-retailer gift card, a staggering 89% would spend it on food, drink, or clothing – a survey result that experts attribute to the ongoing cost of living crisis – with 30% of them saying they would spend the voucher on their weekly shop.
Asked about the value of employee rewards, over half of people (57%) say bonuses and regular rewards contribute to a feeling of being valued in the workplace, while 86% would feel valued at work if they received a surprise multi-retailer gift card or gift voucher worth £150, with only 7% saying it would not help them to feel valued.
Frank Creighton, Director of Business Development at Love2shop, said: “The extent to which UK workers feel undervalued and under-appreciated is alarming.
“The fact that one-third of staff feel undervalued should be a massive wake-up call for UK business, particularly in light of the report, which found almost half (49%) of people would feel a heightened sense of loyalty to their employer if they felt valued by them.
“How undervalued employees are resolving this situation poses even greater concern. Our report’s data indicates that many will continue to vote with their feet by finding a business that does appreciate them.
“This ongoing nationally recognised trend, now known as the ‘Great Resignation’, is costing companies a huge amount of unexpected expenditure in recruitment, training and time and that’s why it’s so important for more businesses to start making staff feel appreciated – by changing their attitude towards rewards.
“We do understand it isn’t always easy for employers to know when to reward their employees – or by how much. That’s why we’ve compiled the Appreciate Report, which offers valuable insight when it comes to making staff feel valued while maintaining and increasing productivity levels.”
To read the report, visit: https://business.love2shop.co.uk/appreciate-employee-value-report-2022/
Media enquiries to Alec Doyle, Senior PR Executive on: [email protected]
NOTES TO EDITORS
Survey data taken from a poll of 2,000 employed UK adults in August 2022
Love2shop is a leading UK employee and customer engagement company. Its Love2shop products offer a fantastic choice of multi-retailer gifting rewards, helping businesses attract and retain employees and customers.
With its award-winning digital platform, Love2shop enables clients to plan, launch, communicate and maintain incentive or reward programs with minimal effort while delivering performance improvement.
Love2shop Business is part of Paypoint, home to many of the country’s most-loved gifting, pre-payment and engagement solutions including Park Christmas Savings, highstreetvouchers.com and Love2shop, driving digital innovation in gifting.
Read more here: business.love2shop.co.uk
flexecash is the prepaid card platform that issues flexecash Love2shop Cards. This facility is provided by Park Card Services who are Authorised and Regulated by the Financial Conduct Authority to issue electronic money. FRN: 900016. Love2shop Cards are regulated by the Financial Conduct Authority and as such we may need to complete an electronic identity check.