Looking Back, Moving Forward
First, there was the Great Resignation, then there was Quiet Quitting…But what does a post-pandemic workforce look like now?
Our 2023 research on employee recognition sheds light on what some are calling “The Big Stay”. Don’t let that terminology fool you, though—what truly keeps employees boils down to how you treat them, which in turn influences company culture.
The State of the (workplace) Union
How did we get here?
The post-COVID world seems to have led leaders down a new path as more people are reporting a positive culture and having received more recognition than before. The next wave of workforce trends is here—great resignation, quiet quitting, and the newest buzzword “The Big Stay” is now being launched with unemployment at a record low. But we want to support “the great reinvigoration” to show support to employees over the long-haul.
Even though more people report a positive culture, 27% do not have a positive company culture. Better company culture and appreciation rank in the top five reasons employees would leave.
The Importance of Company Culture
Nearly everyone knows about the buzzword “company culture” but what does it mean when it comes to keeping employees loyal to your company and what results might come from additional support?
Company culture is a top reason why employees leave.
No Employee Left Behind
17% of surveyed employees:
Receive only negative comments at work, or no feedback at all. This includes a lack of recognition for doing a good job, and little to no interaction from their bosses.
How will employees go above and beyond if they do not know if they are doing well at base-level? Nearly 1/5 of employees do not receive any type of feedback or recognition over an entire calendar year.
How do your bosses recognize you at work?
Non-monetary (thank you notes, acknowledgment of hard work one-on-one or during meetings)
Both monetary and non-monetary
My bosses do not recognize me
With monetary items (like bonuses, gifts, gift cards)
While peer-to-peer recognition is taking place, there seems to be a disconnect between executives and management recognizing their employees. That disconnect becomes more apparent as managers cannot see how workers recognize each other for their hard work.
Another disconnect is shown when looking at communication trends: 13% of employees have bosses that interact most with them outside of working hours.
When are you recognized?
For doing a good job
Life events (birthdays, weddings, having a child)
Peers are recognizing each other more than managers are. 55% currently recognize their colleagues at least once a week.
If your company had a recognition platform to easily appreciate coworkers, how often would you use it?
52% Once a week or more
30% Once a month
9% Once a year
The Big Shift to the Great Reinvigoration
Our employees are our best assets, and you want them in top working order.
Create an employee recognition program to start recognizing and rewarding your employees to ensure everyone feels seen and supported—now is the time to reinvigorate your staff.
If recognized with a gift card, which would you prefer?
Visa® or American Express® Gift Card
Branded Gift Card (Starbucks, Walmart, Target, etc.)
InComm InCentives offers different solutions to help your company create a culture of positivity.
Through our platforms, you can invest in your current workforce with monetary and non-monetary rewards, leading to lower employee burnout, turnover rates, and costs.
Vanilla Visa® Gift Cards are issued by Sutton Bank, Member FDIC, pursuant to a license from Visa U.S.A. Inc. Cards may be used in the U.S. and District of Columbia everywhere Visa debit cards are accepted. Visa is a registered trademark of Visa, U.S.A. Inc. All other trademarks and service marks belong to their respective owners. No ATM or cash access. See Cardholder Agreement for terms and conditions. Cards are distributed and serviced by InComm Financial Services, Inc., which is licensed as a Money Transmitter by the New York State Department of Financial Services. NMLS #912772.