Bonuses are most effective benefit for retaining staff

Almost two thirds (64%) of managers feel bonuses and reward based pay are the most effective benefit for retaining staff, according to a survey by CBSbutler.

The survey also found just over a quarter (27%) of respondents believe pensions are the best benefit for holding on to employees.

However, no respondent valued lifestyle benefits, such as gym membership, as a worthy retention factor.

David Leyshon, managing director of technical and engineering recruiter at CBSbutler, said: “To retain employees, ensuring they are motivated is absolutely essential. There are countless advantages to having enthusiastic staff, for example, increased productivity, better performance, higher levels of job satisfaction and work quality, improved employee engagement, a positive working environment, low staff turnover. The list goes on.

“If [employers] have a content and stimulated workforce, [they] will have a successful business.

“In my experience, I believe the best way to motivate staff, particularly in the recruitment sector, is by using bonuses and reward-based pay.

“However it is very important managers do not put emphasis on rewarding only hard financial targets at the expense of other qualitative skills such as team work, managing change, problem solving and customer focus.

“To me, these skill sets are absolutely fundamental to the operation and success of a business”.

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