Incentive&Motivation Magazine June Edition - Page 4

The Headlines The world of rewards, incentives and benefits - distilled... Only 15% of employers strongly agree that they have accurate data on global total benefits costs. Source: Thomsons Global Employee Benefits Watch 2016/17 Report Team Spirit 23% of Americans who work at companies with more than 500 employees are unsure of the name of their CEO and 16 percent said they never hear from him or her at all. Source: APPrise Mobile’s Survey 84% of consumers would switch brands for prize incentives. Source: edgeloyalty.com 80% buy more from companies of whom they are members. Source: edgeloyalty.com 90% of millennials had been distracted by stress at work and over 32% say they regularly experience stress. Source: Lifeworks Study 2017 58% of people quizzed by LinkedIn said that they would be prepared to take a pay cut to feel happier in their jobs and just 18% consider financial benefits such as an annual bonus and company shares important to job satisfaction. Source: LinkedIn Work Satisfaction Survey 88% of employees believe that ‘it’s important that employers reward employees for great work’, yet only 41% believed that their employer effectively rewards them. The employees that believed their company had an effective rewards approach also felt that their work was important. 90% of employees who worked in places with effective rewards programs agreed with the statement “My work makes a difference” while only 64% of employees without these programs felt the same. Source: The AttaCoin 2017 Employee Appreciation Study. Page 4 | www.incentiveandmotivation.com Anxiety levels have increased across the UK, keeping more than 51% of workers awake at night and with 3 in 10 saying they are more stressed now than ever in their career. Source: ONS Personal well-being in the UK: Jan to Dec 2016 Financial perks such as a bonus or a pension attracts 42% and 36% of jobseekers, but non- financial perks such as flexible working (32%) or private healthcare (21%) are increasing in importance. Source: Total Jobs Understanding Talent Research We’ve sniffed out some good ideas to enhance that Summer feeling Great Ideas Could helping toward the cost of a holiday with a travel incentive be the most desirable way to reward or incentivise employees? Research from American Express Travellers Cheques suggests that more than one in three people will refuse to forego their summer holiday, despite money being tight! Cleary travel is something we all really value. And with people feeling so strongly about taking time off, yet holiday costs rising, travel incentives are becoming one of the most desirable rewards to offer to employees. The benefits of holidays are well- documented – employees who have time off to rest and relax return to work feeling more productive and perform more effectively than those who don’t take annual leave. Not only does it have a good effect on health, well-being and general happiness, holidays are also inspirational and aspirational and therefore ideal for motivating employees to work effectively and to their full potential. On top of this, holidays have always proven to be popular as a reward for top performers, while travel clubs whe &RVVW26'WF66VFVB6vRƖFFV2"'VBFV"v6vPbfƖvG266FFB6 &RB6vf6Fǒ&VGV6VB&FW2&R7&V6rV&G2VfW'6VVR&VVfBfVFVW&pbƖF2&R&fR'VFvWBvB&WBfVFVW&s''FRGFfRfVFW"@4Tb&VWfG2&W'FV@&V6&Bw&wFFRv6W2&RFW6vrFV VVRfVFVW"&w&2( v^( &R6VVr&R6W0fRvg&G&FF@FRfb6W'f6R&w&2vFv&'&W'2FVG'Fv&G2&P6W6fRV"&VBfVFVW WW&V6Rf"FV"VR( 60FRGFfR( FF( 26'&FPfVFVW"&w&2W7B&PfW&RVVvF66FFR'&B7V7G'VbvW2&ƗFW2FW&W7G266WG2BƖfW7GW2FVVvvR7&V6vǐFfW'6Rv&f&6^( 6W2&R&V6v旦rF@FV7&FVB( vFW7>( &w&0&RvW&gVWfW'27&VFr66V6RbW'6RB6VƖrv&6R7VGW&R0vV2'FBfV6Rf 6W2F6G&'WFR6FfVǐFFV"66VFW2F22W7V6ǒ'FB06'&F2FGG&7B&WFBVvvRFF( 266ǒЦ666W2#7B6VGW'v&f&6Rg&&W'2F֖V2&VWfG6FVBFR6FfP6'&VF&WGvVVfVFVW&6ЦBFW"vfr&6&VfW"vFsRbfVFVW'26FFrWF&Vvv&6Pvfr&w&2( 27BFV&PvBfVFVW'2vfRWFFW6ffW"VVW2F'2FvfPF6&GbFV"66Rf"WfW'FVW'2bfVFVW&rv7@467G'V7FffW"fVFVW &V6vFV6V2B6W'f6Pv&BVW2f"VVW2vfRfVFVW&VBfW"#SW'2v7BU7F"ffW'2f6rF06VB( 67Frf"6W6^( vW&PFW&6RWf"FRVW72WW&V6W0Wr&W6V&6g&6FW&VVfG2B&Wv&G26W'f6W0&WfV2FBV&ǒRVVW0vVBƖRF6&RWW&V6PvFFV"FVBWfVw&VFW"V&W"#RR6BFWvVBƖRF6&RFV"&Wv&G0vFf֖ǒ"g&VG2FR7GVGbfW"VPVVB6&WfVV@FBBRb֖V2&RVVF&V6VfRWW&V6W26Pw&VBFV26VFRFR7FF&@6'&FRFWB7FfFW27V626vV6Fr&6W'vFRvFW"&gFrBf֖ǒgVF2vWfW"FW&R2Wp'&VVBbWfVG2FBRv6F66FW"W&2&R'VvW&R'F6G2W66RFRƗfpFVBF&VvV'7F6R6W'6PvVB7VBW"VVW2 WfVF6VWFrFƖr W6RFr6VFFsb^( fRv@7FfRFVFV7GVBG&r6R67VFr"WfV&ƖBfFV@G&fr6VB7&RBvFPFV7&B6W6fG2'FBF66FW 6bVr&WB6( B&vBf RFVRv6FFPGfFvRbFRWr&vR`ff6RWW&V6W2FB6&PFFVBFF7FW2vW2@ƖfW7GW2Vff6Rv6W7666FB6FrvWB6fW2"WfVv&67&R66VPfW7FvFF"cFW6v6VvRFW&R&RVGbw&V@7WƖW'2b6'&FRF2W@FW&R( 2'WBFWG6FRFR&wwr6VFfVFFfF6vRP