Expert urges firms to offer rewards

Date: 19th January 2011

Small businesses operating in various industries across the UK could be among those encouraged to re-think their rewards strategies following the recent comments of one human resources (HR) expert.

A recent roundtable event sponsored by HR service provider Ceridian suggested that rewards and benefits can help organisations attract and retain staff, industry publication HRMagazine reported.

Jeremy Campbell, chief people officer at Ceridian, claimed that such a change in strategy could prove vital for staff retention as some firms begin to struggle while others report an upturn in business activity.

The expert is quoted by the news provider as saying: "Organisations suffer at different stages of the economic cycle and need to be able to revise their benefit packages to compete.

"They have to keep their employees motivated at a time when those organisations seeing an upturn are suddenly in a position to poach the best people."

Mr Campbell added that the rewards do not necessarily need to be financial, as workers appreciate other benefits, such as an improved work-life balance.

Posted by Jacob Williams