Organisations in the UK will use more non-financial rewards to motivate staff, according to a PwC’s 14th PwC Global CEO survey.
The survey is based on 1,200 interviews conducted from September to November 2010 with CEOs in 69 countries.†The UK data is based on 71 interviews conducted with UK-based CEOs.
While 58% of CEOs responded that they will use more non-financial rewards to motivate staff, the other significant changes to HR strategy include increased work with government and education systems to improve skills (52%) and changes to talent management strategies (83%).
Michael Rendell, head of HR consulting at PwC, said: “Staff are not motivated by pay alone. With labour markets more buoyant, firms need to ensure employees are engaged financially and emotionally. †
“Non-financial rewards can include increased responsibility and developmental opportunities, anything which can help people see how they can reach their full potential. This in turn can help improve workforce skills, another priority for CEOs.”
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