MD Stephanie Christopher says companies unable to offer promotions or pay rises not only risk losing good talent but employees who remain may become demotivated and disengaged.
It’s not just dollars driving employees toward that next promotion; three quarters of Kiwi workers are keen to take on extra duties.
The SHL Workers and Good Management research finds that 33 percent of workers want more responsibility and 17 percent want to be given charge of special project when next promoted.
The study also finds that 36 percent of managers consider their involvement in the strategic direction of the business as part-and-parcel of being promoted.
Christopher says Kiwis are hard workers and actively want to help their company achieve its business objectives.
“They’re willing to go that extra step when motivated and it’s an opportunity employers cannot afford to overlook.”
SHL’s research shows third of employees turn to their colleagues for motivation and 19 percent need the company to acknowledge their hard work to spur them on.
“The research also found that 15 percent of workers say monetary incentives motivate them,” says Christopher. “However, there is always something beyond money that employers can tap into to keep staff engaged.”
What employees want out of promotion:
• More money (70 percent).
• More responsibility (33 percent).
• Being involved in the more strategic parts of the business (25 percent).
• title change (9 percent).
• Perks such as car-space, phone or laptop (12 percent).
• To be given charge of special project (17 percent).
What motivates employees:
• Support of colleagues/team cultures (34 percent).
• Bonuses and monetary rewards (15 percent).
• Company acknowledgement of hard work (19 percent).
• Support from their manager (10 percent).
• Rewards/perks following busy periods (4 percent).
• Improved chance of promotion (4 percent).
