When the recession first hit most company formation owners and employees were more concerned with avoiding redundancy than incentives.
However, when it became clear that the recession would have long term implications and that even though it is now over, economic recovery is still a long way away, employers and employees alike have now begun to consider how best to deal with the future.
Yet, in a context of decreasing consumer spend and with the prospect of an unstable future looming over most businesses, for many companies providing staff with financial incentives is no longer commercially viable. So what are the alternative options for company formation owners looking to build staff morale?
Well, according to a recent report by the Chartered Institute of Personnel Development, one of the best ways of incentivising employees is to offer a more flexible working culture. The survey found that, when asked what they would consider to be the most valuable perks any company could offer; over forty per cent said they would appreciate additional holidays and the option to work from home over an increase in salary.
The survey also found that most people considering company formation cite flexibility as one of their main motivation.