Non-fiscal reward and recognition can boost morale

Date: 06/08/2010

Non-fiscal reward and recognition programs can boost staff morale and improve employees' work-life balance.

According to the Chartered Management Institute, such employee motivation initiatives can help to maintain a company's productivity without inundating staff with additional work.

According to Mike Petrook, head of public affairs at the CMI, for many firms, maintaining a good work-life balance will mean reviewing sales incentive programmes and introducing non-fiscal reward and recognition.

"Employers are increasingly offering benefits like flexitime, like increased training and development - because they cannot afford to offer people pay increases," Mr Petrook said.

Mr Petrook also highlighted the top-down leadership and motivation approach companies' managers should take.

"The typical manager works an average of 43 days' worth of hours over contract each year. But if it is not productive then there is little point in it," Mr Pertrook noted.

Recently, PricewaterhouseCoopers claimed that one such reward and recognition programme could be to offer leadership and motivation training to staff.

Written by Peter Chad

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