Reward not meeting staff expectations

REWARD MANAGEMENT

Reward not meeting staff expectations

Three in ten employees say that their benefits packages do not cover their needs or their family needs, according to figures gathered by remuneration consultants Aon.

Main survey findings -- reward related

The key reward statistics are these:

• 39% of the 1,500 interviewees do not see a direct link between their performance and remuneration
• 29% of respondents were dissatisfied with the learning and development opportunities provided by their employers
• 32% were unhappy with the opportunities for personal growth afforded by actually doing their jobs
• 33% of respondents stated that management did not meet their expectations about recognising the importance of personal and family life.

Workforce commitment

The Aon researchers developed a measure called the UK Workforce Commitment Index (WCI) to summarise the level of employees' commitment to their organisations. The latest figures suggest that commitment has declined for four years in a row. As Aon explains: "The 2003 UK @Work study was conducted against a backdrop of recession, cutbacks and corporate mantra of 'do more for less'. These pressures are eroding workforce commitment."

Aon reckons that the UK workforce lags behind Australia, South Africa and the US in its level of commitment to employers. Worse, the gap is widening.

A final word

"Management's failure to bridge this widening trust gap has taken its toll on the UK workforce's commitment, which declined in 2003 for the fourth consecutive year. There are penalties attached to this failure. Uncommitted workers will readily decamp for higher pay elsewhere as soon as market conditions permit, leaving those organisation that have failed to take action struggling to service rising business volumes. Moreover, lost productivity and the costs of hiring and training that accompany high staff turnover rates will eat away at margins." -- Aon Consulting.

Want to know more?

Title: UK @Work: Results from Aon's 2003 @Work survey, Aon Consulting.

Methodology: Conducted in August 2003, the survey is based on responses received from 1,500 individuals from across the UK. Each respondent is employed in an organisation with 20 or more employees.

Availability: Contact Aon Consulting on tel: 0800 279 5588, or email: enquiries@aonconsulting.co.uk

Aon Consulting focuses on "the delivery of integrated solutions to our clients' HR needs". It specialises in four broad areas: pensions; benefits; wellbeing; attraction and development. Aon Consulting has offices in over 20 locations throughout the UK and is part of Aon Corporation, one of the world's largest providers of insurance and risk management related services. To find out more visit www.aon.co.uk