Bonuses are the way to improve job satisfaction. Right? No? According to research from Sodexo Rewards and Benefits, four in five employees in the UK actually say that non-financial rewards are the way to make them happier at work, despite more than half having received a financial bonus.
The survey of 1,000 full and part-time workers in the UK found that 84% would rather a non-financial reward, explaining that it would motivate them to work harder, make them feel more valued by their employer, more likely to stay in their role rather than look for a job elsewhere, and feel more recognised for the work they have done.
But 50% said they have never received a non-financial reward as part of their benefits and rewards package.
Jamie Mackenzie, marketing director at Sodexo Benefits and Rewards Services, said: “Employers need to take note of changing trends when deciding how to motivate their staff. Expanding a rewards package beyond a purely financial model can be extremely beneficial, not only for employees, but also for the company. The job market is becoming increasingly competitive, so employers need to consider introducing innovative reward packages that will attract and retain the most talented staff."