More than half of Australians surveyed in the 2010 Kelly Global Workforce Index believe they would be more productive if they were able to share in profits or have an ownership stake in their employer’s business.
The survey also found 30 per cent of workers currently have an arrangement whereby some of their pay is tied to performance targets. Gen Y (aged 18-29) and Gen X (aged 30-47) employees are much more likely to be on some form of performance-based pay than those in the Baby Boomer generation (aged 48-65).
However, of those not receiving performance pay, more than a third (37 per cent) say they would be more productive if they had their earnings linked to performance outcomes, with Gen Y the most attracted to it.
Many employees indicate that they would be quite comfortable with some element of their compensation being tied to their individual or group performance. This shows that most are confident in their ability to perform their jobs well and believe they can share in the rewards of improved workplace productivity.
Other results from the survey, with regards to employee benefits and perks, reveal that aside from salary, the benefit that rates most highly is training, followed by flexible hours, vacation or personal time-off, and health benefits.
The Kelly Global Workforce Survey obtains the views of approximately 134,000 people, including more than 20,000 in Australia.
Mitrefinch’s Time and Attendance system, TMS, can take the stress out of employee management by easily managing performance related pay incentives. Real-time information and detailed reporting facilitates up-to-the-minute tracking and evaluation of the performance and work activities of employees against Key Performance Indicators (KPIs).
To find out more contact Mitrefinch Sales on 1300 884 831 or sales@mitrefinch.com.au
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