Bonuses do motivate – research by Xactly

Over a quarter of UK employees state that a financial bonus is their main motivator, yet large numbers of employers do not operate any bonus or payment-by-results schemes, according to research from a provider of such schemes, Xactly. According to the study, 45% of employees are paid hourly or on a fixed salary with no potential to earn a bonus; a quarter report that individual performance is not related in any way to pay and reward.Amongst those who have received a bonus from a previous or current employer in the past, almost 70% said that this motivated them to push towards a professional goal. However, pay is not the only motivator revealed by the survey participants; internal recognition, opportunities for career grow and flexible working all featured on a list of the most valued non-pay elements of total reward.

Tom Castley, vice president EMEA at Xactly said:

‘This research shows the answer to boosting the UK workforce’s productivity lies with incentive and compensation schemes. While money is unsurprisingly a big driver in encouraging staff to go above and beyond the call of duty, it is not the sole motivator. It is vital for organisations to ditch the ‘one size fits all’ approach and tailor their compensation schemes to positively encourage their satisfied and motivated workforce.’

The survey was commissioned by leading provider of cloud-based incentive solutions Xactly. The primary research was undertaken by the research agency Atomik Research during the first half of 2015, with 1,508 full or part-time employees from UK-based private sector companies. For more details, please visit: www.xactlycorp.com/press-releases/youve-got-to-pay...