Giving Thanks for a Job Well Done

March 14, 2008 ( -A few thank yous around the workplace can go a long way - an estimated £5.2 billion worth - according to a new survey by a London leadership coaching firm.

A news release fromWhite Water Strategies said its analysis indicated that a management team that properly acknowledged its staff had the equivalent perceived value of a 1% pay hike – or £5.2 across the U.K. “It is not a question of being nice. Saying ‘thank you’ fundamentally affects the bottom line,” said psychologist Averil Leimon, director of White Water Strategies who commissioned the study, in the news release.

According to the announcement,two-thirds of workers feel undervalued by not hearing the words “thank you” often enough, and 72% believe it is very important to be acknowledged in the workplace. Feeling undervalued makes employees work less hard and more likely to look for another job, according to Leimon.

While 77% of 45-54 year old workers, many senior managers themselves, agree saying “thank you” is very important, only a quarter of workers believe they receive enough praise.

According to the news release, other survey findings included:

  • Bosses in London thanked their workers most for a job well done (30%).
  • Scotland’s workers are adamant about the lack of praise and support, with four in 10 (39%) saying they definitely don’t receive enough thanks.
  • 72% of people think it’s very important to get a personal thank you from senior managers in work (especially true for women, with 76% saying it’s very important versus 68% of men).
  • 3% of workers don’t feel it’s important to say thank you at work.
  • 58% of 16-24 year-old workers feel it is very important to be thanked by managers, the lowest response of all age groups.