Survey shows more firms introducing staff benefits to ensure retention
Inexpensive incentives are being used by firms to tackle difficulties with staff retention during the economic downturn, research shows.
According to the 2009 National Management Salary Survey, published by the Chartered Management Institute and Computer Economics Limited and Remuneration Economics, employee morale is currently low in many companies.
This is due to a wave of cost cutting measures such as pay freezes and redundancies.
To boost motivation, businesses are using employee benefits such as increased holiday allowances, time off in lieu of work and increased levels of training support.
Lord John Eatwell, chief economist at the Chartered Management Institute, said: "It is encouraging to see employers looking for ways to avoid redundancy rather than adding length to the dole queue without a second thought."
The Chartered Institute of Personnel and Development has stressed that redundancies are not always the best way of saving money.