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Annie Hayes

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Cash is not king

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Pay is no longer the biggest motivator for workers in the UK, according to new research.

Almost 2000 respondents were surveyed by Investors in People/NOP. Surprisingly, most workers said they would opt for a fulfilling job over one that pays them a lot of money.

Salary figured as an important factor alongside job security but did not top the charts. In good news for employers, 78% of respondents said they were either very or quite motivated at work.

Ruth Spellman, Chief Executive of Investors in People commented: “The need to keep interest high and challenges fresh are vital to any business, because motivated employees can mean the difference between success and failure.”

In related news, however, it was found that slow growth in HR salaries is having a direct impact on the number of resignations. The 2004 National Management Salary Survey reveals that combined earnings for HR managers rose by only 0.7 per cent, from £43,263 to £43,571.

This coincided with an increase in the number of resignations among HR managers, from 5% in 2003 to 6.2% in 2004.

To see this related story click here:
HR managers quit as earnings stutter

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Annie Hayes

Editor

Read more from Annie Hayes
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