Incentivising your team during an economic downturn has presented company owners with a number of difficulties; not only have many had to enforce pay freezes, bonuses and salary increases have also been suspended in most small companies.
However, a recent report conducted by the Chartered Institute of Personnel and Development, has found that over fifty per cent of the UK’s employees believe that they would be incentivised if they were to share their companies profitability.
The survey, which asked over five thousand employees how company owners could help them be more productive , also found that workers valued financial incentives less than they value feeling supported and listened to at work
Simon Carling, spokesperson for the CIPD, comments; “This findings of this report confirm that incentvising employees involves more than pay rises and bonuses. Linking performance to financial incentive isn’t exactly new; however, giving employees a percentage of their company’s profits makes them feel part of the company’s future and establish them as integral part of it.”