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HR Grapevine - The best ways to reward staff when money is tight...

By Dan Jones. 

Gone are the days when simply throwing more money at employees was the method of choice to keep them loyal. Basic salary progression is still a fundamental aspect of any role; yet people today also demand greater flexibility, balance and autonomy than ever before. As such, the concept of reward has shifted from being solely about pecuniary remuneration to a much broader focus on employee experience and creative recognition.

Stats back up what at first might appear to be a bold claim. A recent study led by Glassdoor found that around four in five (79%) employees would prefer new or additional benefits to a basic pay increase. That number is even higher among younger workers, with 89% of those aged between 18-34 saying they’d choose more interesting perks over a nominal pay rise. Businesses big and small are taking note, with many now constantly on the lookout for new ways to attract and retain talented professionals beyond the standard pay rise.

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