January 11, 2017
Money worries undermine performance of one in four workers says CIPD 0
A quarter of people are suffering with money problems so substantial that it is affecting their ability to do their job, claims a new survey published by the CIPD and Close Brothers Asset Management. Physical fatigue caused by lost sleep when worrying about money, is the most common explanation for how financial concerns have impacted people’s productivity, effecting one in five employees (19 percent). The number reporting problems rises to a nearly a third (31 percent) among 18-24 year olds, and those living in London (32 percent). The problem is not limited to low earners either, with one in five (20 percent) of employees earning £45,000 to £59,999 saying that financial anxiety has affected their ability to do their job. Meanwhile, women are more likely than men to report that money worries are affecting their work, with nearly three in ten (28 percent) women reporting the problem, compared with less than one in four (23 percent) of men.
December 12, 2016
Can an organisation simply buy employee motivation? 0
by Matias Rodsevich • Comment, Workplace
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.
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