Will Employees Be Satisfied With More Flexible Benefits? It Could Depend On Their Personality22/7/2019
Companies are increasingly moving to more flexible employee benefits systems and giving employees more control over their benefits, based on the assumption that this will result in greater employee satisfaction with benefits. But is this assumption unfounded? A study of Spanish employees examined the role of personality traits in the relationship between benefits flexibility and benefits satisfaction. The results indicated that personality traits, particularly self-efficacy and internal locus of control, moderated the relationship between benefit flexibility and benefit satisfaction.
Key Topics: Flexible benefits; Benefit satisfaction; Personality traits; Self-efficacy; Internal locus of control
With companies now having increasingly diverse workforces, a critical question that many face is how to most effectively reward their diverse workforce in order attract, motivate, and retain top talent. A South African study examined the reward preferences of various demographic groups based on characteristics such race, gender, and age. The study results indicated that a ‘one size fits all’ approach to reward management is not effective as employee reward preferences were found to differ across demographic groups.
Key Topics: Total rewards; Demographics; Reward preferences
The prevalence of employee ownership in companies has been on the rise in recent years, with companies increasingly using long term incentives and employee stock ownership plans in the belief that it will increase company performance. A comprehensive study across 14 countries looked to examine the validity of this apparent positive link between employee ownership and company performance. The results did indeed find a significant relationship between these two factors, and this positive relationship held across both publicly and privately held companies.
Key Topics: Employee ownership; Long term incentives; Company performance
There is a growing acknowledgement by researchers and practitioners alike that adverse psychosocial work factors (i.e. work stress) can lead to negative physical health implications for workers, such as weight gain and high blood pressure. A Canadian study examined workplace effort-reward imbalance and its relationship with blood pressure and body mass index over a five-year period and found that effort-reward imbalance exposure was related to increases both in blood pressure and body mass index.
Key Topics: Effort–reward imbalance; Psychosocial work factors; Work stress; Body mass index; Blood pressure
With the competitive landscape becoming increasingly difficult, companies are looking for ways to optimize employee effort and performance. One mechanism used by many companies is pay-for-performance, linking compensation directly to performance. A Norwegian study investigated the role of base pay and variable pay-for-performance plans in the Insurance industry over a 2-year period, and found that such compensation plans can lead to increased effort and deceased turnover intentions, but via employee job motivation.
Key Topics: Pay-for-performance; Employee motivation; Employee effort; Turnover intention
In many sectors, particularly those with primarily low-skilled jobs, the use of temporary and often migrant workers is on the rise. While there are certain benefits to companies in using temporary migrant workers, their use may come at a cost. A study of the UK food manufacturing sector examined employee absence rates and the tools companies use to reduce absence issues. The results showed that companies were predominantly using punishment rather than reward techniques to combat absence. This study also found that settled migrant workers had similar absence behaviour to native workers, while newer transitory type migrant workers had less job commitment and were more likely to be absent from work.
Key Topics: Absence management; Temporary workers; Migration |
Popular Reward Chronicle Searches
Compensation. Pay for performance Benefits Millennials Exec compensation Motivation Gender Topics
All
Join The Reward Chronicle Team
Are you passionate about reward? We’d love to hear from you. Click here for more details on how to contact us. |