71 per cent of respondents to the research carried out by corporate gift voucher company One4all Rewards, claimed they would forgo a higher salary elsewhere in order to remain working for an employer who thanked them regularly.
"More and more companies are now moving towards a total reward based strategy, so the latest research is no surprise," said Manesh Patel, Senior Consultant at Aon Employee Benefits. "The combination of salary, benefits and recognition all play a part in creating a happy, successful and productive environment."
A further 71 per cent said they would favour an employer who offered an impactful reward and benefits package. 17 per cent said they would turn down a job offer if there were no employee benefits on offer, whilst 68 per cent said that being regularly thanked by their boss would improve their loyalty to the business.
In addition, employers who offered Christmas bonuses as well as regularly showing appreciation to their team had higher retention levels. Commenting on the research, Declan Byrne, Group Director at One4all said it was ‘a surprise’ that such a high number of people were willing to forgo their salary in return for a benefits package. "This shows the great investment that employee benefits, rewards and incentives can be," he said.
Patel added: "With employers now offering choice to employees in terms of their overall package which includes salary, benefits (company paid and voluntary options) and working environment such as flexi time, working from home etc. many employees now consider the full package before looking to leave for just more money."
Aon UK Limited is authorised and regulated by the Financial Conduct Authority. Registered in England and Wales. Registered number: 00210725. Registered Office: The Aon Centre, The Leadenhall Building, 122 Leadenhall Street, London EC3V 4AN.