Every couple of months RedBalloon sends a survey to its customers on how employees are feeling about a particular workplace issue. We’ve dubbed it the Pleasure Survey. This time we wanted to put aside all the doom and gloom in the news and ask workers of all ages their view of the GFC
Well, our latest survey looked at what employees think it takes for Corporate Australia to remain resilient throughout the GFC, and the findings revealed some relieving results for those who have been waiting for some optimism.
Here are the main findings:
- Apparently half of Australian’s have confidence in Corporate Australia remaining resilient throughout the GFC. Gen X respondents have the most faith at 55 percent, followed by Gen Y 47 percent and Baby Boomers at 30 percent.
- The mentality “we’re all in this together” is present in 65 percent of Aussie workplaces, with the majority believing ‘Mateship’ will equip Aussie businesses against the GFC.
- The values that are important to Aussie employees were in the following order:
- Guts & Resilience
- ‘A Fair Go’
- ‘Giving a pat on the back’
- Fostering an atmosphere that values Mateship and implicit trust is key in this climate. People thrive when they feel ‘part of something’ and are respected for their part by their peers.
- It’s worth noting that while ‘Guts and Resilience’ was nominated as the second most powerful quality for workplaces to have in the current climate, it had the least presence in Aussie workplaces.
- It’s time to reassure our people and strengthen your teams. It takes guts to take risks in a downturn, it’s so easy to stick to what you know and put new ideas on hold until you’ve weathered the storm but it’s not going to put you ahead when the sun comes out
- Interestingly in order to keep their jobs, 73 percent of respondents would rather sacrifice a promotion and nearly half of Aussies (47 percent) would opt to sacrifice a proportion of their pay. The results show ultimately, above career progression and pay, Aussies do not want to give up their happiness at work (only 15 percent) and not much more would sacrifice their work-life balance (24 percent)
- The good news for employers who are tightening their budgets is that out of all the ways to motivate employees to be more productive, 62 percent say acknowledgement and recognition for our contribution are enough. Yet only 44 percent of respondents said this ‘Pat on the Back’ culture exists in their workplace.
A simple thank you has always been free and this is the one thing employers have complete control over. Recognition frequency should not decline in a downturn, just because budgets are in decline too. The message for managers is simply not to forget to say thanks and acknowledge their people throughout the downturn