How importance to employee motivation and recognition to sustain competitive advntage in the organization

Referring below article ;
 
53% of employers cannot afford non-performance-related benefits
By
Alan-Smith
More than half (53%) of employer respondents cannot afford to provide non-performance-related benefits because their organization does not have sufficient budget, according to research by One4all Rewards.

Its survey of 1,024 UK employees and 476 UK employers also found that 10% of employer respondents are currently making use of the tax exemption on trivial benefits. Trivial benefits are defined as those where: the cost of providing the benefit does not exceed £50 (or the average cost per employee if a benefit is provided to a group of employees and it is impracticable to work out the exact cost per person); the benefit is not cash or a cash voucher; the employee is not entitled to the benefit as part of any contractual obligation, including under salary sacrifice arrangements; and the benefit is not provided in recognition of particular services performed by the employee as part of their employment duties.
The research also found:
  • 83% of employer respondents want to give regular bonuses and rewards to their employees in order to boost morale, motivation and loyalty.
  • 22% of employer respondents are aware of the tax relief available on trivial benefits, and 11% are planning to make use of them before the end of the current tax year.
  • 48% of employee respondents believe that receiving trivial benefits would improve their morale, 35% say it would make them feel more loyal to the organization, and 31% think receiving these benefits would motivate them to work harder.
  • 62% of employee respondents feel that a gift voucher or card which allows them to choose their own reward would have the biggest impact on their attitude towards work.
  • 47% of employee respondents say that they would appreciate a bonus or reward which is not linked to their performance at Christmas, 32% would like to receive a bonus after a particularly busy period at work, and 26% would like to be given a bonus or reward on their birthday.
Alan Smith (pictured), UK managing director at One4 All Rewards, said: “There is lots of potential for British businesses to offer non-performance related benefits to their staff under the latest [HM Revenue and Customs] changes to the workplace benefits rule.

“The changes to the workplace benefits rule have been introduced to help businesses similar to those we surveyed, which have limited budgets to reward their employees. We can see from the research that only a small proportion of businesses are currently making use of the tax exemption on trivial benefits, however, 11% of UK bosses are intending to make use of the tax exemption before the end of their tax year.
“As Christmas was highlighted as the top season [employees] would like to receive a benefit, now is the perfect time for business leaders to consider making the most of the tax exemptions on non-performance-related trivial benefits.”

 Accessed 4th December 2017 from
https://www.employeebenefits.co.uk/issues/december-2017/employers-cannot-provide-non-performance-related-benefits/

Above article demonstrates importance of recognition and rewards to enhance employees motivation and moral . If the employees are motivated , it will deliver more benefits to organization.

Employee motivation and recognition rewards are future investments in to the organization . Today most of organizations are fail to keep talented and educated employees  longer period . Because most of organization's HR department have not proper strategies to motivate and reward all employees considering their contributions to organization.

Most sales oriented organizations and service oriented organizations are rewarding only for  front line staff. Most of time back office staff and supporting staff have not recognize and not rewarding . Due to minor motivation activities and less rewarding programs,  good talented and experienced employees  are moving to competitors .

If the organization can practice  proper strategies to motivate and recognize employees , it will benefited to  organizations to keep good employees longer time and sustain  competitive advantage in  their industry.

Comments

  1. lankabiznewsDecember 22, 2017 at 8:58 AM

    In present context organizations need to focus on something beyond motivate there employees. Getting them more involve and engaged in job is more important to effective performance

    ReplyDelete

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