UK worker productivity linked to performance bonuses

News Article - 13 August 2010
Category: Business

A recent survey of UK workers suggests productivity would increase if employers reward success with a share of the profits or an ownership stake in the business. More than half of the 6,000 people questioned for the Kelly Global Workforce Index believe these opportunities would increase their day-to-day productivity.

The Index, which obtained the views of 134,000 people in 29 countries, also found that 30% of UK workers have a degree of performance-related pay in their current positions. Broken down demographically, Generation Y (aged 19-29) and Generation X workers (aged 30-47) are most likely to be on some form of performance-related remuneration than those in the Baby Boomer generation (aged 48-65).

Of those not currently involved in such a scheme, 36% say they would be more productive if earnings were linked to performance outcomes, with Generation Y most attracted to the idea. A further 53%, made up of more men than women, say that profit-sharing or share options would encourage performance at a higher level.

Industries with the highest rates of performance-based pay were financial services, business services, science/pharmaceutical and IT.

Other highly-rated benefits include training (54%), flexible working (18%), holiday and leave (18%) and retirement benefits (8%). In addition, there is widespread support for employers to more proactively care for the health of employees. 50% of respondents said employers should incentivise a healthier lifestyle, specifically with regard to positive change such as quitting smoking or losing weight.

Insights such as these can provide companies with the information needed to implement more relevant HR policies, helping to increase staff happiness and productivity. Access business software can help businesses looking to move forward. With training seen as a large priority by 54% of employees, companies that utilise the training administration module will be tapping directly into employee needs. With the ability to browse and sign up for available training courses online, staff can quickly and easily follow their own goals with full company support behind them.

For more information, please call Access on 0845 345 3300.

Article keywords: business news, industry news, accounting software, staff rewards, business solutions

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