Super fund company Sunsuper has released the 2016 Australian Employee Insights Report and it offers an interesting look at how Australians want to be rewarded and recognised for their work.
The research was based on the responses of more than 1,000 Australian employees over the last 12 months aged between 18-69 years.
Among those surveyed, over two-thirds (71%) believed their performance was not appropriately rewarded, especially those working in larger companies with 500+ employees.
Surprisingly, the majority said they simply wanted acknowledgement (32%) with monetary bonus (26%) and career progression (22%) following closely behind.
Other rewards on the list included a day off from work, and a gift or token of appreciation.
Gen Y were more likely to feel regularly rewarded and recognised in contrast to the Baby Boomers with over three quarters saying more should be done to acknowledge their performance.
In terms of industry, agriculture, mining and manufacturing workers (38%) led the way for performance recognition while government workers (25%) came in at the bottom.
The Australian Human Resources Institute recommends that companies implement a suitable incentives and rewards program whether it be through commissions, performance pay or profit share.
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