Mar 4, 2022 - Economy

Employee appreciation carries more weight this year

Illustration of a briefcase being lifted from the ground by balloons

Illustration: Annelise Capossela/Axios

Today is Employee Appreciation Day, but with the Great Resignation ongoing, this might start feeling like an everyday occurrence.

Why it matters: When employees feel appreciated, they’re more likely to do a good job and less likely to leave.

  • “Workers want reassurance that their bosses and teammates like them,” the New York Times reports today. “The benefits of appreciation are manifold: lower turnover, fewer days missed, even a reduction in on-the-job accidents.”

Of note: In addition to wage increases to keep up with inflation, employers are rewarding workers with better benefits.

  • More than half of workers say they’ve gotten new or increased benefits in the last six months, according to a recent The Harris Poll conducted by Fortune.
  • “Improved dental and vision benefits are among the most commonly reported benefit expansions, along with added health and wellness stipends, as well as options for permanent remote work,” Harris Poll reports.

Yes, but: Employees would prefer to be appreciated with higher pay.

  • 77% said they’d rather have more money than “unconventional” benefits such as health and wellness stipends, sabbaticals and unlimited PTO.
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