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Do Your Employees Feel Valued This Labor Day? New Study Says Only Half of US Workforce Say Yes

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laborday_banner-colorLabor Day, as a national holiday in the U.S. and Canada, is 120 years old this year. Its purpose? Labor Day “is a creation of the labor movement and dedicated to the social and economic achievements of American workers. It constitutes a yearly national tribute to the contributions workers have made to the strength, prosperity, and well-being of our country.” (U.S. Department of Labor)

Yet, many U.S.-based surveys point to a worker sentiment that is less than ideal. The newest one from the American Psychological Association’s Center for Organizational Excellence indicates that about half of the U.S. workforce say they feel valued by their employers, more than a third (36%) haven’t received any form of recognition in the last year, and just 47% say recognition is provided fairly. 

“Although a majority of working Americans (81%) reported that their employers provide some type of recognition, less than half (46%) said their organizations recognize employees for individual job performance. Additionally, less than a third (29%) said that team or work-unit performance is recognized and even fewer reported that their employer provides recognition for company-wide results (21%), or engaging in specific behaviors, such as those consistent with the organization’s values (18%).”

According to U.S. workers, the most common form of recognition their employers provide is salary increases based on merit (39%). Less than a third said that direct supervisors express verbal or written appreciation and only about 1 in 4 reported that their organizations use performance-based bonuses or promotions as a form of recognition.

So, why are employee statistics a topic for this blog? Because employee satisfaction relates to your company’s brand!

In my new book, Beyond Your Logo – 7 Brand Ideas That Matter Most for Small Business Success, I link employee satisfaction and retention to companies’ brands and levels of success. After all, employees are internal customers.

“What these statistics tell us is that there are many companies that have not been investing in their most valuable asset — their employees… Whatever costs are associated with managing employees, giving them feedback and encouragement, and ensuring that they are on the same page with the company’s objectives, are worth every penny in the long run.”

As an FYI, Canadian workers are the happiest on the plant, says a December 2013 survey conducted by Monster.ca and independent global market researcher GfK. Of respondents, 64% of Canada’s labor force love or like their jobs, with only 7% dissatisfied. Imagine this - 24% said they would do their job for free!! Only 5% said they could find a better position and only 2% stated that they hate their job although it is necessary.

So, I ask… do your employees feel valued this Labor Day?

 

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