BOSTON — (December 12, 2022) —A new study from global employee engagement company, Reward Gateway, has revealed the connection between reward and recognition and improving employee wellbeing. The research surveyed over 3,000 employees across the UK, U.S. and Australia in order to examine the state of employee wellbeing and how reward and recognition can be an instrument for change.
The survey data suggests that the “snowball effect” of the pandemic, the Great Resignation and the global financial crisis and impending recession have forever changed what it means to engage and thrive at work. The effects include:
Reward and recognition emerged as a powerful tool to improve employee wellbeing with over two-thirds (69%) of employees agreeing**** their work wellbeing would improve if they were simply thanked more for their hard work. Relatedly, 67% of employees surveyed would like to be rewarded and recognized more for their hard work than they are currently.
The research also confirmed that people who rate reward and recognition from their managers and colleagues as good or excellent are far less likely to experience burnout, stress or feelings of being overwhelmed than those who rate it as poor.
Rob Boland, COO at Reward Gateway says:
“We have always understood the intrinsic power of reward and recognition, and this research validates our view that R&R is a must-have tool to enhance employees’ wellbeing in a time when it is clearly needed. With continued economic uncertainty likely to bring more disruption and potential burnout to workforces worldwide, reward and recognition can serve as an affordable and effective lever to strengthen organizational wellbeing.”
For more insights from this research, please register here to get an exclusive copy of the report: rg.co/ustrends23
*70% calculated by deducting the 30% of respondents who selected the exclusive answer ‘N/A the change over the last few years has not negatively impacted me as an employee’ from 100%.
**’A significant impact - if I feel burnt out at work then it has a large impact on my overall wellbeing’ and ‘Somewhat of an impact - if I feel burnt out at work then it has a moderate impact on my overall wellbeing’ responses combined.
***’Very frequently’ and ‘frequently’ responses combined.
****’Strongly agree’ and ‘somewhat agree’ responses combined.
*****’Very challenging’ and ‘somewhat challenging’ responses combined
About Reward Gateway
Reward Gateway helps companies engage, motivate and retain people – every day, all over the world. Partnering with over 4,000 companies in 23 countries, we empower more than 6.5 million employees to connect, appreciate and support one another to make the world a better place to work. Our unified employee engagement hub provides the best of recognition, reward, wellbeing, surveys, benefits and discounts that support talent acquisition, retention and values-driven growth. Clients include American Express, Unilever, Samsung, IBM, McDonald's and more.
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