01 February 2011
Non-financial benefits 'important for employees'
Introducing more non-financial bonuses to a business' internal policies may be a good idea if organisations are eager to avoid grievance cases in the aftermath of the recession, it has been suggested.
According to Dilys Robinson, principal research fellow at the Institute for Employment Studies (IES), non-cash rewards can help employers who are strapped for cash show their members of staff that they are highly-valued, even though they cannot afford to pay them more in terms of their salary.
As a result, this could lead to happier employees and fewer grievance complaints.
Ms Robinson added that strong communication networks between bosses and workers are also vital, as although "employees are realistic and know they can't expect large financial rewards", they do still "expect to be valued for their contribution".
These comments came after the publication of the Reed Job Index earlier this week (January 31st 2011), which stated that salary growth continues to be subdued across the UK.
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Posted by Cheryl Bennett