Research has highlighted that utilising the word ‘thank you’ could elevate both mood and employment management
• 69% rate company perks and benefits as important to their overall satisfaction and 26% rate lack of reward and recognition for good work as their number one grievance at work
• 53% of UK companies do not formally recognise outstanding employees on a regular basis
• Younger workers are more likely to be motivated by company perks and benefits than the older generation
• The majority of 18 – 24 year olds are more likely to stay with their current employer if they were to implement better employee benefits
• Employee engagement firm Perkbox, which has 300,000 subscribers, tripled sales last year and is seeking to raise funding on Seedrs
Around 6.5 million UK workers (or 30%) would not describe themselves as happy at work and would move jobs for better benefits, according to new research1 from Perkbox, the UK’s leading employee benefits and perks platform.
The unhappiest workers are in Yorkshire and the Humber where just over two in five (42%) claim not to be happy while the happiest workers hail from the East Midlands with a whopping 80% claiming to be happy.
Happiness increases steadily during the working week, with almost a third (31%) saying they rate happiness as either poor or very poor on Mondays compared to Tuesdays (19%), Wednesdays (12%), Thursdays (11%) and Fridays (8%).
Perks for a happy work life
The power of ‘Thank You’ in business has been an overlooked and often underestimated resource, yet its influence to elevate moods, increase engagement and uplift productivity is profound. Over two thirds (69%) of UK workers rate company perks and benefits as important to their overall satisfaction and more than a quarter (26%) rate lack of reward and recognition for good work as their number one grievance at work.
Despite this overwhelming demand from employees for rewards and benefits, over half (53%) of UK companies do not formally recognise outstanding employees on a regular basis2, while 44% believe that rewards and recognition are either very or extremely relevant to their business.
Younger workers are more likely to be motivated by company perks and benefits than the older generation, with 78% of 18 – 24 year olds versus 58% of 55 – 64 year olds saying that perks and benefits are either important or very important to their overall satisfaction at work.
The majority of 18 – 24 year olds (84%) and 25 – 34 year olds (78%) say they would be more likely to stay with their current employer if they were to implement better employee benefits, demonstrating the importance of rewards beyond salaries to the Millennial Generation – and the need to review remuneration packages on a regular basis.
In London, nearly half (48%) of workers would be likely to switch to a job that offered better benefits and overall women are more likely than men to consider work/life balance an important factor in switching jobs (41% vs 35%).
Unhappiness at work
As well as lack of reward and recognition in the workplace, UK workers reported that a toxic negative culture at work was their biggest grievance (cited by 21% of respondents) while 17% highlighted micro management and 15% said long hours.
The research showed that more men than women would tell their boss if they are unhappy at work (69% vs 57%) while older workers (55+) are more likely to tell their boss if they are unhappy than younger workers.
Perkbox’s research also showed that one in five (20%) workers believe their boss would be moderately or not at all supportive if they told them they were unhappy in their jobs. Younger workers feel more supported by their bosses than the older generation, with two thirds (66%) of 18 – 24 year olds believing that if they told their bosses they were unhappy, they would be either moderately or very supportive, compared with just 49% of 55 – 64 year olds.
While most UK workers are relatively positive about their boss overall, with 15% saying their boss is ‘fantastic’, 16% or 3.4 million UK workers suggested they have either ‘poor’ or a ‘terrible’ boss.
Saurav Chopra, CEO and Co-founder at Perkbox, said: “This research indicates the scale of unhappiness in workers within UK businesses, and goes some way into revealing some of the causes of the nation’s general productivity issues. A single disengaged worker, irrespective of sector, can cost a business over £3K annually in sick leave, lost productivity, training and recruitment. This cost spirals into six figures if the organisation employs over a 1,000 people. Investment in employee health, well-being and engagement via perks and benefits is often perceived as a costly, non-critical ‘nice-to-have’ rather than an intrinsic tool for incentivising, retaining and recruiting talent. Yet most research already in the public domain indicates that while remuneration might instantly gratify and sway potential employees into accepting a job offer, it’s the non-financial factors that come with reward and recognition that engages and retains workers in the long run. Satisfied workers yield dividends in terms of engagement, loyalty and morale. Quite simply, happy teams accomplish great things.”
Perkbox, which has 300,000 subscribers using the platform tripled sales last year. The company plans to triple sales again in 2016 to £14 million and achieve a turnover of more than £100 million in three years. Headcount has quintupled in just 24 months. To help achieve these growth ambitions, Perkbox is seeking to raise funding on the UK’s most active equity crowdfunding platform, Seedrs.
Saurav Chopra added: “Since launch in January 2015, Perkbox has grown to become the UK’s largest cloud-based digital employee engagement platform that helps SMEs attract, retain and motivate staff. We’re really resonating with SMEs nationwide keen to become better, more responsible and thus more profitable organisations. This is reflected in the brand’s incredible growth. We are now entering another exciting phase of expansion and an important element of our success moving forward will be the response to our crowdfunding campaign. We are thrilled to be able to share in our future success with our customers.”
A Good Look At How Homes Will Become More Energy Efficient Soon
Everyone always talks about ways they can save energy at home, but the tactics are old school. They’re only tweaking the way they do things at the moment. Sealing holes in your home isn’t exactly the next scientific breakthrough we’ve been waiting for.
There is some good news because technology is progressing quickly. Some tactics might not be brand new, but they’re becoming more popular. Here are a few things you should expect to see in homes all around the country within a few years.
1. The Rise Of Smart Windows
When you look at a window right now it’s just a pane of glass. In the future they’ll be controlled by microprocessors and sensors. They’ll change depending on the specific weather conditions directly outside.
If the sun disappears the shade will automatically adjust to let in more light. The exact opposite will happen when it’s sunny. These energy efficient windows will save everyone a huge amount of money.
2. A Better Way To Cool Roofs
If you wanted to cool a roof down today you would coat it with a material full of specialized pigments. This would allow roofs to deflect the sun and they’d absorb less heat in the process too.
Soon we’ll see the same thing being done, but it will be four times more effective. Roofs will never get too hot again. Anyone with a large roof is going to see a sharp decrease in their energy bills.
3. Low-E Windows Taking Over
It’s a mystery why these aren’t already extremely popular, but things are starting to change. Read low-E window replacement reviews and you’ll see everyone loves them because they’re extremely effective.
They’ll keep heat outside in summer or inside in winter. People don’t even have to buy new windows to enjoy the technology. All they’ll need is a low-E film to place over their current ones.
4. Magnets Will Cool Fridges
Refrigerators haven’t changed much in a very long time. They’re still using a vapor compression process that wastes energy while harming the environment. It won’t be long until they’ll be cooled using magnets instead.
The magnetocaloric effect is going to revolutionize cold food storage. The fluid these fridges are going to use will be water-based, which means the environment can rest easy and energy bills will drop.
5. Improving Our Current LEDs
Everyone who spent a lot of money on energy must have been very happy when LEDs became mainstream. Incandescent light bulbs belong in museums today because the new tech cut costs by up to 85 percent.
That doesn’t mean someone isn’t always trying to improve on an already great invention. The amount of lumens LEDs produce per watt isn’t great, but we’ve already found a way to increase it by 25 percent.
Maybe Homes Will Look Different Too
Do you think we’ll come up with new styles of homes that will take off? Surely it’s not out of the question. Everything inside homes seems to be changing for the better with each passing year. It’s going to continue doing so thanks to amazing inventors.
ShutterStock – Stock photo ID: 613912244
IEMA Urge Government’s Industrial Strategy Skills Overhaul To Adopt A “Long View Approach”
IEMA, in response to the launch of the Government’s Industrial Strategy Green Paper, have welcomed the focus on technical skills and education to boost “competence and capability” of tomorrow’s workforce.
Policy experts at the world’s leading professional association of Environment and Sustainability professionals has today welcomed Prime Minister Teresa May’s confirmation that an overhaul of technical education and skills will form a central part of the Plan for Britain – but warns the strategy must be one for the long term.
Martin Baxter, Chief Policy Advisor at IEMA said this morning that the approach and predicted investment in building a stronger technical skills portfolio to boost the UK’s productivity and economic resilience is positive, and presents an opportunity to drive the UK’s skills profile and commitment to sustainability outside of the EU.
Commenting on the launch of the Government’s Industrial Strategy Green Paper, Baxter said today:
“Government must use the Industrial Strategy as an opportunity to accelerate the UK’s transition to a low-carbon, resource efficient economy – one that is flexible and agile and which gives a progressive outlook for the UK’s future outside the EU.
We welcome the focus on skills and education, as it is vital that tomorrow’s workforce has the competence and capability to innovate and compete globally in high-value manufacturing and leading technology.
There is a real opportunity with the Industrial Strategy, and forthcoming 25 year Environment Plan and Carbon Emissions Reduction Plan, to set long-term economic and environmental outcomes which set the conditions to unlock investment, enhance natural capital and provide employment and export opportunities for UK business.
We will ensure that the Environment and Sustainability profession makes a positive contribution in responding to the Green Paper.”