Employee motivation obtained with higher pension provisions, survey shows

Date: 17/11/2010

Employers looking for ways to increase employee motivation should take notice of a new survey, which shows that staff would rather have higher pension contributions than higher pay.

The survey, by Aon Hewitt, revealed that 56 per cent of UK workers would prefer better pension contributions as a form of reward and recognition.

Staff also rated greater protection in the event of illness or injury and being able to take between three and six months unpaid or partially paid leave at 37 per cent desirability.

John Puddephatt, principal at Aon Hewitt, said that the increase in retirement age and the effect of the recession had led many people to think about their long-term finances.

He called staff valuing pensions over pay an "absolute turnaround".

"Employees clearly value non-financial benefits, and implementing a flexible benefits strategy could not only help a firm's staff attraction and retention programme but can be extremely cost effective too," he said.

A recent survey by Friends Provident also revealed that staff are aware of realities in the workplace, as they expect to work four years longer than they want to and retire aged 67.

Other rewards that rated highly included childcare, alternative healthcare treatments and a home cleaning and ironing service.

Posted by Elizabeth Mewes
 

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