Organisations need to address their reward strategies in order to ensure that talented individuals remain engaged with the firm and willing to work hard, a new report has suggested.
The survey by Chiumento found that leaders who motivate and inspire need to be developed, which could see effective rewards levied in order to encourage workers to trust that their skills are valued, especially during the downturn.
However, a careful balance needs to be reached when it comes to rewards, as firms may find that if they make it too financially beneficial to stay at a firm, workers who truly are not aligned with the future goals of an organisation may stay, despite a lack of enthusiasm.
"Chances are your own reward strategy is a contributory factor. Designed to lock in the best, it has now potentially locked in the average too," the report noted.
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It was previously asserted by Workwise UK that should a company decide to introduce a pay freeze, the benefits of such a move must be shown to ensure employees remain positive.
