Globoforce UK Survey Reveals Traditional Annual Reviews Provide Inaccurate Indication of Employee Performance
Infrequent feedback and recognition viewed as missing piece, as 42 percent of British workers seek new jobs due to lack of recognition
DUBLIN, Ireland, and SOUTHBOROUGH, Mass. – November 13, 2013 – Globoforce
), a leading provider of social recognition solutions, today announced the results of its 2013 UK Workforce Mood Tracker. The survey finds that 66 percent of UK workers surveyed do not believe that yearly performance reviews are an accurate appraisal of their work and 75 percent place greater value on peers’ opinions versus managerial feedback alone.
The second annual Globoforce UK Workforce Mood Tracker* provides key insights into the UK workforce, including attitudes and perspectives on employee engagement, recognition, reward, and performance. This year’s survey indicates that annual performance reviews are failing to sufficiently engage UK employees. Forty-four percent of respondents say annual performance reviews fail to motivate them and 65 percent indicate they actively dislike the process. When asked about the potential of adding crowdsourced data to the review process, 47 percent of UK workers feel a more accurate picture of performance would result.
“The survey shows that traditional performance reviews are failing to depict a true picture of performance,” said Derek Irvine, vice president of client strategy and consulting, Globoforce. “The opportunity exists for employers to incorporate more collaborative ways to acknowledge workers’ efforts. Crowdsourcing provides employees with feedback that is much more accurate; it’s an approach workers are prepared to embrace.”
The Globoforce UK Workforce Mood Tracker also reveals the effect that recognition has on employees. Seventy-seven percent of surveyed workers like to have their efforts at work recognised and 73 percent say that recognition motivates them to do a better job. One-fifth of respondents feel that recognition is the most important part of a job, ranking it higher than job title.
Findings also reveal that failing to show appreciation can have a negative impact on employee motivation and retention with 29 percent of UK workers stating they have left a company because they were not recognised for the work they do. In addition, 42 percent of respondents are looking for a new job due to a lack of recognition in their current role.
The survey also addressed the topic of the annual bonus and discovered that frustrations around executive bonuses still exist. Among those surveyed, 81 percent believe recognition and reward should be distributed more fairly throughout organisations, instead of being confined to senior executives. Similar to findings from last year’s survey, the research shows that 45 percent of UK employees prefer more frequent recognition versus a yearly bonus.
*Notes to editors
The Globoforce UK Workforce Mood Tracker study was commissioned by Globoforce and conducted between 7th and 14th September 2013, by independent market research firm One Poll, through an online panel of fully employed persons (age 18 or older) at companies with 500+ employees in the United Kingdom. Responses came from a wide range of industries, including Education, Financial Services, Government, Healthcare, Hospitality, IT/Tech, Professional Services, Retail, and Utilities. There were 1,000 responses generated for the survey, resulting in a margin of error of +/- 3.9 percentage points at the 95 percent level of confidence.
Globoforce is a leading provider of social recognition solutions, redefining how companies understand, manage, and motivate their employees. Innovative companies around the world use Globoforce’s cloud-based social recognition software to reveal the true performance and influence of every employee and strengthen company culture. With Globoforce, HR and business leaders can take a strategic approach to recognition programs that result in measurable benefits to the bottom line driven by increases in employee engagement, retention, and productivity. Globoforce is co-headquartered in Southborough, Massachusetts, and Dublin, Ireland.