Non-financial benefits such as flexible working are essential for employers to maintain and increase their levels of productivity following the global economic downturn, an expert has said.
According to Mike Petrook, head of public affairs at the Chartered Management Institute (CMI), managers must now be willing to offer such bonuses in order to maximise the output yielded from their workforce.
"Employers are increasingly offering benefits like flexitime, increased training and development - because they cannot afford to offer people pay increases," he commented.
Mr Petrook's comments come after the publication of the latest Chartered Institute of Personnel and Development (CIPD) Work Audit, which found that the recession has seen a swing in people moving away from full-time employment in favour of part-time work as they value flexible working practices more highly.
Meanwhile, research released by PricewaterhouseCoopers earlier this year revealed the importance of this internal policy among many employees, with around 40 per cent of all workers saying they felt it was more desirable than an increased salary.
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Posted by Daniel Stevens