- One in three employees weigh up career opportunities through the New Year[i] period
- Cost of replacing individual workers estimated at £30,614[ii]
- 40 per cent of those working in finance think feeling valued in a job is a top priority
- Over three quarters of engaged employees are passionate about their jobs
- Wednesday 21st January marks the UK’s first Employee Motivation Day
Finance professionals value passion in their industry, with two fifths citing it as the main thing motivating them to work harder.
Delving into the industry’s motivation levels, a nationwide study found that 40 per cent of accountants think feeling valued in a job is a top priority, with 34 per cent saying recognition for their hard work actively motivates.
72 per cent feel it’s important to be passionate about a job, and although some (16 per cent) find their work a little dull from time to time, an overwhelming 57 per cent of those employed in finance regard themselves as hard workers.
To support the banking industry, Argos for Business, the leading provider for corporate motivation solutions, has launched the UK’s first ever Employee Motivation Day on Wednesday 21st January 2015, which has been created to inspire passion and appreciation across the UK’s workforce.
Argos for Business is encouraging bosses to start the year by recognising good work and motivating employees.
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As one in three employees are predicted to weigh up their career options this January, the cost to individual businesses could be too high to pay.
Accounting for all elements of the recruitment process, including advertising costs and recruiter fees, through to loss of productivity and training for new recruits, each employee lost could cost up to £30,614[iii] to replace. Businesses choosing not to implement a year-round motivational strategy should consider this substantial sum and whether they can afford to lose some of their most valued assets – experienced employees.
As the research shows, motivational strategies need not cost the earth, or indeed anything at all. imply feeling valued, or thanked for a job well done resonates with British workers, leaving a positive and affirming effect on employees and the businesses they work for.
Commenting on the findings, Danny Clenaghan, Managing Director at Argos for Business, said:“January always appears an opportune time for workers to weigh up their employment options. However, motivating staff and showing appreciation for their hard work year-round needn’t cost the earth. Motivation highly influences productivity within the finance and accounting sector, and our study reveals that a large proportion of Britain’s workers need to feel valued by their employer and colleagues to help motivate them to perform well.
“Simple and cost-effective everyday actions, such as saying thank you with low cost gift vouchers, a duvet day or allowing your team to leave 30 minutes early on a Friday, can go a long way in ensuring bosses hold onto valuable skilled team members.
“To help drive motivation, we are therefore dedicating a whole day to giving and receiving recognition and motivational compliments. We hope that employees, managers and business owners all get involved and become part of our Employee Motivation Day campaign.”
Argos for Business is working alongside motivational speaker Adrian Webster, as part of the campaign to improve motivation levels. Commenting on the findings, he said: “Argos for Business’ research proves that the UK’s hard-working workforce all appreciate recognition as a fantastic motivator.The key to self-motivation is having a sense of progress, at the heart of which lies good goal setting.”
To help you feel motivated year-round, follow Adrian’s top five tips:
- Set yourself lots of small goals to stay focused and to give you a sense of progress – vital for long term happiness and job satisfaction
- Before starting a day’s work, just “step back” for two minutes. Take a few deep breaths, relax, unclutter your mind and picture your day ahead, and what you’re hoping to achieve. You’ll be far more productive
- Stay focused on the positives. Every organisation has it faults but unless you can change them, don’t waste your time dwelling on them
- Have some fun! Having fun helps people relax, bonds teams together, releases endorphins and is the bedrock of creativity
- Never overlook the importance of the little things, the TNTs – Tiny Noticeable Things. They may be tiny but they create the biggest, longest lasting images
The Top 10 MOST motivated sectors are**:
- Travel and Tourism (50per cent)
- Environmental Services (47per cent)
- Health (45per cent)
- Education (41per cent)
- Computing/Electronics (40per cent)
- Hospitality (38per cent)
- Industry (39per cent)
- Entertainment (38per cent)
- Utilities (38per cent)
- Construction (37per cent)
** percentages based on number of people who never ‘slack’ at work
Employees and employers can get involved in National Employee Motivation Day by downloading the motivation resource pack from www.employeemotivationday.co.uk, or by visiting the dedicated Facebook and Twitter pages, using the hashtags #EmployeeMotivationDay #EMD and #NatMotivateDay.