HCS Business Matters
18 December 2009
Can't get No Satisfaction?
At a time when employers are finding it increasingly difficult to reward staff financially for their efforts, it is not surprising to learn that employee satisfaction has doubled for those employees who have been lucky enough to receive a pay rise this year.
A study by the Chartered Institute of Personnel and Development (CIPD) found that the vast majority (almost 50%) of employees surveyed were forced to endure a pay freeze in 2009, as many organisations struggle to cope with mounting business and financial challenges.
Providing employees with a pay rise or bonus can be interpreted as an excellent way to recognise hard work and achievements against objectives.
However, it may be a costly mistake to assume that continuously providing an annual bonus or salary increase is the only way to see improvements in your employee satisfaction and morale levels. In fact, by setting such a precedent, you may find that employees feel more stressed and demotivated as they worry about providing evidence to justify their performance, and the reward that goes with it.
HCS recognises that providing financial reward and recognition is simply not possible for all organisations, and is not the only method of motivating your people. Please visit our website www.humancapitalservices.co.uk for our Top Tips for improving or maintaining morale and employee satisfaction – without the huge price tag.
21 December 2009, webeditor
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