Reward schemes 'may be necessary' in current climate

Date: 05/02/2009

Firms hoping to get ahead in the volatile market may want to organise a reward and recognition system to provide staff incentives, it has been stated.

Tim Holden, the managing director of Fluid Consulting Limited, told HR Zone this week that motivating employees can be made easier by a work-enhancing reward scheme.

He emphasised that alongside the feeling of fairness that performance-related benefits can bring, better employees will likely be retained through the new system.

Furthermore, Mr Holden said it can give the worker more of an idea of how good-quality work relates directly to the reason they were hired in the first place.

He concluded: "It is vital in the present climate to hang on to valued employees who could join a competitor at any time. In our experience these individuals typically work in sales, creative, technical or engineering roles."

People hoping to find an organiser specialising in incentive schemes and motivation programmes may want to look to MotivAction as a capable partner.

According to Northern Ireland resource NI Business Info, such rewards can enhance the quality of their working life as well as add more value to an employment contract.

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