What motivates you to work harder? What makes you feel more valued – lump sums of cash or something more long-term performance-related?
New research carried out by One4all Rewards – Push the Button report has revealed that the majority of workers in the trade sector are not motivated by lump sums of money rather than rewards schemes, with three quarters of those surveyed claiming they would not work harder for a bonus equivalent to 10 per cent of their annual salary.
In fact, some 55 per cent of the 1,000 workers who took part said even incentives equivalent 25 per cent of annual salaries would not spur them on! And the news was pretty much the same when talk of a 10 per cent pay rise was offered, with just 25 per cent of respondents claiming they would work harder.
The best foot forward, it would seem, would be for businesses to look to more regular rewards or a bonus linked directly to an individual’s performance – 35 per cent of those questioned preferred this option.
A spokesperson from One4all said: “From this research, it’s clear to see that while bonus culture is impactful, it isn’t always an effective driver of increased output or motivation for many employees – and it seems this is especially true in the trade sector. As it can be very expensive for businesses, this is an important learning for many employers to acknowledge.”
What are your thoughts? Would you prefer to be rewarded through an incentive or benefit scheme or do lump sums of cash do it for you?