December 12, 2016
It’s the end of the year and like in most companies it’s probably time to start calculating and reassessing your employee’s compensation. But can you actually use money to motivate and retain your employees? A study by Willis Towers Watson found that only 20 percent of employers in North America actually believe merit pay is effective in driving high performance. Traditionally money was seen as the main incentive used to motivate employees. Higher productivity results in higher salaries and bonuses. For companies, it’s been used as the main tool to attract, retain and engage their people. Today we’ve learned that the key to motivation is much more complex than that.