Employees lose faith in pay and reward schemes
- Published on Tuesday, 03 January 2012 10:55
- Posted by Scott Buckler
Employees in the UK have lost faith that their hard work will be rewarded with pay increases and other employee benefits
According to a report by the Chartered Institute of Personnel and Development (CIPD), workers across all sectors are dissatisfied with their wage increases.
Just under half (48 per cent) saw their pay frozen, five per cent had their salary cut and just 18 per cent received a cash bonus.
The CIPD's Employee Attitudes to Pay report found that the proportion of employees receiving pay rises has fallen from 67 per cent in 2008 to just 45 per cent in 2011.
Charles Cotton, rewards advisor at the CIPD, said: "Employers must try harder to explain what performance the organisation values and how it will reward and recognise this."
He added that failing to do so could lead to a drop in motivation and productivity, which may hold back growth in 2011.