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Non-financial perks 'retain staff'
Monday, 09 June 2008
Life after graduation
Employers can retain staff by offering incentives other than a wage, it has been claimed.
Research carried out by Gfk NOP has indicated that firms offering non-pecuniary rewards are more likely to have a stable workforce, with only 25 per cent of employees looking to leave their job within a year.
The figure for employees at other firms where other benefits are not available was 44 per cent, almost double this figure.
Sukhi Ghatore, associate director in GfK NOPs business division comma said it was well-documented that non-monetary rewards were "an important motivator" for staff, but the effects of failing to recognise this trend were "quite startling".
He said: "UK employers are risking losing significant numbers of staff, in many cases because theyre not even taking the time to do something as simple as saying a formal thank you."
Graduates may benefit from employer perks such as regular social events, discount and membership offers.
GfK NOP is an international market research firm working across a variety of sectors.