Performance Pay and Profit Sharing Entice High-Performing Workers, Kelly(R) Global Workforce Index(TM) Finds
TROY, MI, Aug 04, 2010 (MARKETWIRE via COMTEX News Network) -- There is widespread support among employees for a greater ownership stake in the businesses that employ them, with 60 percent of respondents saying profit sharing would motivate them to perform at a higher level, according to the latest survey results from workforce solutions leader Kelly Services(R) (NASDAQ: KELYA) (NASDAQ: KELYB).
The findings are part of the Kelly Global Workforce Index, which obtained the views of approximately 134,000 people in 29 countries across North America, Europe, and Asia Pacific.
The idea of giving employees a "slice of the pie" is gaining in appeal. Almost 40 percent of those surveyed say that some of their compensation is tied to individual, group or company performance targets. Of those who do not have such an arrangement, more than a third would like to see this practice adopted by their employers.
Gen Y (aged 18-29) and Gen X (aged 30-47) are much more likely to be on some form of performance-based pay than those in the baby boomer generation (aged 48-65). Among those not already on performance-based pay, Gen Y are the most attracted to it.
"Profit sharing and company ownership arrangements create a powerful bond between workers and employers, and can motivate people to be more productive and creative," says Kelly Services Executive Vice President and Chief Operating Officer, George Corona. "As a global talent shortage looms, employers may want to consider how they can improve the productivity of their workforce by offering employment packages that align individual performance to corporate goals."
The survey also found extensive support for employers doing more to address the health and well-being of the workforce, even to the extent of providing incentives or rewards to those who are able to quit smoking, lose weight or adopt a healthy lifestyle.
Other key generational findings of the survey about employee benefits and perks reveal that:
-- Aside from salary, the highest rated benefit for all generations is
training, but it is much more important to Gen Y and Gen X.
-- Approximately half of all generations rate employer-provided health
benefits as "very important."
-- Roughly 80 percent of all generations think that employers should take
some responsibility for employee health and well-being.
-- Well over half of all generations believe that employers should
provide an incentive or reward to employees for adopting a healthier
lifestyle, changes which may include quitting smoking, losing weight
or taking up exercise.
-- The employer-provided health benefit that is most attractive to all
generations is health insurance, while gym access or discounts are
relatively popular with Gen Y.
"Across the workforce, there is an expectation that employers need to move beyond traditional areas of compensation in looking after the well-being of their key people. With many staff spending a considerable amount of time working, employee health and welfare become vital," Corona says. "So it is not surprising that health and training have emerged as two key priorities for many individuals. These are also the benefits that help to strengthen commitment for the long term and are recognized as a good investment in human capital by employers," he concludes.
For more information about the survey results and key global findings, please visit the Kelly Global Workforce Index.
About the Kelly Global Workforce Index The Kelly Global Workforce Index is an annual survey revealing opinions about work and the workplace from a generational viewpoint. Approximately 134,000 people from North America, Europe, and Asia Pacific responded to the 2010 survey with results published on a quarterly basis. In 2009, Kelly Services was the recipient of a MarCom Gold Award for the Kelly Global Workforce Index in the Research/Study category.
About Kelly Services Kelly Services, Inc. (NASDAQ: KELYA) (NASDAQ: KELYB) is a leader in providing workforce solutions. Kelly offers a comprehensive array of outsourcing and consulting services as well as world-class staffing on a temporary, temporary-to-hire and direct-hire basis. Serving clients around the globe, Kelly provides employment to 480,000 employees annually. Revenue in 2009 was $4.3 billion. Visit www.kellyservices.com.
Media contacts: Asia Pacific Jaquilin Ang Kelly Services +65 6494 6066 Jaquilin_ang@kellyservices.com.sg Europe Tamara Achba Kelly Services +41 32 737 1829 Tamara.achba@kellyservices.eu North America Kathy Fisher Kelly Services +1 248 244-4909 kathy_fisher@kellyservices.com
SOURCE: Kelly Services
mailto:Jaquilin_ang@kellyservices.com.sg mailto:Tamara.achba@kellyservices.eu mailto:kathy_fisher@kellyservices.com
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