Dive Brief:

• About 85% of professionals in a new Deloitte survey prefer a simple "thank you" as recognition for their day-to-day accomplishments. Deloitte polled 16,000 professionals and categorized them into four groups based on their working styles.
• Deloitte found that groups of respondents differed on the specifics of recognition — what they're recognized for, the person recognizing them and the method by which they're recognized — for more significant work accomplishments. For example, a plurality of respondents (47%) said they wanted to be recognized for their accomplishments with a new growth opportunity, rather than a salary increase (23%) or high performance rating (21%). Also, 37% said they wanted to be recognized by leaders above their direct supervisors, while 32% preferred recognition by their direct supervisors.
• More than one-third of women in the survey said they preferred company thank-you's in writing. As part of its analysis, Deloitte concluded that successful future organizations would likely be those that "create cultures, structures, programs, and policies that help people find meaning in their work."

Dive Insight:

Bonuses, letters of commendation and awards ceremonies can be fitting ways to acknowledge workers' achievements. Recognition for a job well done ranks high among employees' expectations of their organizations, along with good health benefits and a positive culture. However, recognition is more than thanking employees for their accomplishments; it can also be an important engagement and retention tool for businesses.

With all its importance to the world of work, recognition is one of the least costly of all employment functions. The price can be as little as 1% of an employer's payroll. Whether an organization has a formal recognition program or gives employees an occasional "pat on the back" for their achievements, engagement can be easily worth the investment.

HR can enlist senior leaders in the effort to make recognition a bigger part of organizational culture. S. Chris Edmonds, founder of The Purposeful Culture Group, previously told HR Dive that senior leaders can set organizational standards by modeling and coaching behaviors that align with these standards, while addressing misaligned behaviors.