A new report into employee motivation has found that money has jumped to the top of the list of Irish workers’ priorities.
Half of those questioned by Mazars for its annual external employee motivation survey reported money as a major issue in their workplace happiness, with a good work/life balance also sought after.
As a result of a very active employment market in the past year, and employees still feeling the impact of the recession through pay freezes and cuts, increasing their income is of primary concern to many, claims Mazars’ Keith McCarthy.
This is highlighted by the fact that just over 30pc felt that money was a major motivator last year.
“Employees are seeking a fair reward for delivering results. We recommend that employers should consider the financial benefits package offered to their employees in terms of the current market rates,” says McCarthy.
The survey also revealed upskilling and staff training is not as sought after as actual recognition from superiors. Elsewhere job security, considering the buoyant professional jobs market, is no longer a concern, with challenging work often enough to keep staff in their current place of business.
The top 3 demotivating factors were a lack of praise, a demotivating management style, and not dealing with the dissatisfactory performance of others.
One of the more eye-catching findings, however, is the disparity between what staff expect management to do in order to motivate them, and what superiors think their staff want.
For example, plenty of those surveyed were receiving extra training as part of a motivation tactic, but this doesn’t tie in with what they mainly want (for example, money and challenging work).
“As organisations gear up to take advantage of the growth in the Irish economy, having a strong motivated workforce is crucial to ensure business objectives are achieved, absenteeism levels are kept low, and productivity and turnover levels are satisfactory,” says McCarthy.
“A strong economy often creates a mobile workforce with greater employee expectations in terms of role, recognition and reward. For employers, this means creating an environment that provides challenging opportunities for employees while at the same time meeting their expectations.”
Motivated staff image via Shutterstock