A National Employee survey commissioned by The Employee Awards has found that 52 per cent of employees across both private and public sectors will be searching for new employment in 2018. The Employee Awards are a not for profit, Community Interest Company, recently created to provide a national platform to celebrate and recognise people across the country doing great work. They suggest there are several key factors at play creating this high figure.
First, over the last decade real wages have not even matched inflation, which is not surprising given the fact that over the last 10 years productivity has increased by an abysmal 1.4 per cent over the whole period. Recent research shows that UK productivity currently lags 15 per cent below the average achieved by our EU competitors. Many economists point to low levels of capital investment in general, and new technology in particular, being to blame.
This is undoubtedly a contributory factor, but the new National Employee research report points to the lack of attention to the human dimension being the main reason driving low productivity, creating a negative circle of low wage increases and diminished profits.
A key factor emerging from the report is the lack of recognition felt by employees from their employers and their managers. Specifically, over 90 per cent of employees said that recognition was important to them, yet 55 per cent of employees felt that they were neither recognised nor appreciated by their employers. Further, 62 per cent of employees stated that they were hardly ever or never appreciated by their boss.
It is generally acknowledged that the people that companies and public sector organisations employ are their most important asset, which, with strong leadership, can motivate a workforce to achieve exceptional results. There are undoubtedly a number of progressive companies and public bodies which provide exceptional examples of a culture which engenders high levels of recognition and motivation amongst their employees. Sadly such organisations are in a minority.
In response to this situation, The Employee Awards, aim to bring focus to recognising employees who go “the extra mile” and regularly “make a difference”. The Employee Awards are aiming to have a multi-faceted social media website providing a platform for nominations for over 20 categories of exceptional employee contributions, culminating in a major Employee Awards event in November. The Employee Awards will also sponsor the “Year of the Employee” to be launched shortly.
There is clearly no quick fix for the widespread problems of recognition and a disenfranchised employee workforce, leading to low productivity levels and a desire for over half of employees to seek a new employer in 2018. As such, The Employee Awards hopes to be a catalyst in providing enhanced awareness of the problems discussed, with a view to making a modest contribution to getting UK productivity growth back on track.