When it comes to rewards and recognition, there are marked differences among men and women and the generations, according to a global survey of about 4,000 employees in 14 countries.
Almost 40 per cent of older workers (56 to 60 years old) believe they will be recognized and rewarded if they work harder or take extra responsibility — only 19 per cent of generation Y (18 to 25 years old) agreed.
Training, performance reviews and workplace trust remain an issue with one-half of employees reporting they have an effective appraisal process and one-third saying good training is regularly available. Less than one in five employees said they are always rewarded for taking extra responsibility or working harder, found the survey by talent management company Lumesse (previously StepStone Solutions).
In the United States, men (73 per cent) are more confident than women (59 per cent) their company will reward them for extra effort or responsibility. Two-thirds (65 per cent) said if they work hard they will be recognized or rewarded; 35 per cent were ambivalent or said they won’t.
There are also more training opportunities available to men (41 per cent) than women (31 per cent) in the United States and more men (77 per cent) than women (55 per cent) have had a pay increase since 2008, found Lumesse’s “Inspiring Talent” survey.
Globally, more men (10 per cent) than women (eight per cent) reported a large pay increase (over 20 per cent) since 2008.
When it comes to loyalty, 57 per cent of French employees planned to stay with their employers “forever.” At the other end of the loyalty scale, the United Kingdom and Netherlands (24 per cent each) were beaten only by Singapore (17 per cent) in last place for long-term loyalty.
In the United States, 31 per cent said they hoped to work for their employer until retirement; 22 per cent said more than 10 years; 23 per cent said five to 10; 17 per cent said less than five; and seven per cent said less than one year.
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