An expert has urged bosses worried about the prospect of imposing salary freezes to consider offering workers non-financial benefits, claiming that doing so can help to maintain workforce morale.
Institute for Employment Studies research fellow Dilys Robinson explained that staff are aware of the budgetary constraints affecting organisations across the country, but suggested a little imagination could help to make up some of the shortfall.
"Employees are realistic and know they can't expect large financial rewards," she said. "However, they do expect to be valued for their contribution by the organisation and here non-financial rewards often go a long way."
Ms Robinson added that good communication between management and other employees is vital, as is opening up the opportunity for those lower down the hierarchy to make suggestions.
Entrepreneurs looking for expert tips on how to sustain favourable relationships despite the current difficult economic situation should consider attending the Employee Engagement Forum 2011 on March 3rd.
Posted by Hayley Edwards