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In the past, salaries were used to attract staff, benefits helped retain them, bonus and incentives motivated them to do a better job. Evidence demonstrates that a different approach is needed in today's competitive workplace. Individuals are attracted, retained and motivated by a wide range of both financial and non-financial rewards. Their demands also change depending on their age (what we call the 'decade principle') and businesses need to reflect this in their reward strategies in order to attract, retain and motivate the best staff.
Invaluable non-financial rewards include: recognition and appreciation for specific achievements (praise!), employee awards, training and promotion opportunities. Salary exchange benefits are also an easy and efficient way to improve your benefits package i.e. extra holidays, gym membership, mobile phones, childcare, health cash plans.
Whatever your business, find out what attracts, retains and motivates your employees and explore how best you can meet those needs to drive the right behaviours and performance standards in your organisation.
“In an ever-changing business environment, we at Crest Medical are keen to focus on developing our business commercially to be a best in class provider to our target markets of first aid, hospitals, pharma and retail. We know that to achieve our goals we need to deliver for our staff by recruiting the best talent, giving them the opportunity and working environment to make a difference. As the business environment changes so does best practice for employing, directing and motivating our staff. To be best in class we know that we need specialist advice and support in continually developing our HR practices and processes. P3 People Management provide that support. We have built a business with more than 100 members of staff and £50m in turnover in a little over 10 years, P3 People Management’s support has been a critical component of our success. If you are looking for professional, flexible HR support for your business I couldn’t recommend them highly enough. ”
Confident managers with the expertise to positively influence and motivate employees are incredibly valuable to any organisation. They can help increase staff retention, boost engagement levels, and maximise productivity. Not only do effective;
There are lots of reasons why many of us are choosing to work for longer. We enjoy better health, we love having purpose in our lives and, as workplaces embrace diversity and;
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