UK employees in the retail sector say profit sharing would boost productivity
More than half of UK workers in the retail sector surveyed believe they would be more productive if they were able to share in profits or have an ownership stake in their employerÂ’s business, according a survey from Kelly Services.
The findings are part of the Kelly Global Workforce Index, which obtained the views of approximately 134,000 people in 29 countries, including almost 6,000 in the UK.
The survey also found 30 per cent of UK workers in the retail sector are currently in an arrangement where some of their pay is tied to performance targets. Gen Y (aged 18-29) and Gen X (aged 30-47) employees are more likely to be on some form of performance-based pay than those in the Baby Boomer generation (aged 48-65).
However, of those not receiving performance pay, almost half (43 per cent) say they would be more productive if they had their earnings linked to performance outcomes, with Gen Y the most attracted to it.
Additionally, the survey found there is strong support for employers to take a greater role in improving the health of their workforce, with 47 per cent of those surveyed saying employers should actually provide incentives to encourage a healthier lifestyle for such changes as quitting smoking, losing weight, or taking up exercise.
Andrew Cook, Kelly Services’ interim general manager for UK & Ireland says, "Many employees are actually quite comfortable about some element of their compensation being tied to their individual or group performance. This indicates that many are confident in their ability to perform their jobs well and believe they can share in the rewards of improved workplace productivity.
“Interestingly, we are also seeing a real groundswell of opinion urging employers to not only support, but to actively promote healthy employees and healthy workplaces, something that can produce a positive outcome for employers and employees alike.”
Other results of the survey in the UK retail sector about employee benefits and perks reveal:
• 56 per cent say that profit-sharing or an ownership stake would motivate them to perform at a higher level, with men more attracted than women.
• Those industries with the highest rates of performance-based pay were financial services, business services, IT, and science/pharmaceutical.
• Aside from salary, the benefit that rates most highly is training (58 per cent), followed by flexible hours (15 per cent), holiday or personal time-off (12 per cent) and retirement benefits (6 per cent).
• 80 per cent say that employer-provided health initiatives should be part of their employment package.
• The employer-provided health benefit that is most attractive is health insurance (44 per cent), followed
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