Latest research shows that the workers are not quitting their jobs because they like their colleagues too much.
Sixty-five per cent of respondents in the Sterry Communications survey said this was the reason they remained working for their current employer.
Money was found to be an insignificant motivator for many with only 13% saying that pay rewards was the key issue in deciding whether to job-hop.
Private medical insurance or a pension topped the charts for the most popular employee benefit, accounting for almost 40% of the vote.
These financial benefits were closely followed by being able to work from home and having access to the use of a company mobile phone, PDA or other mobile device.
John Fox, sales and marketing director, at Sterry said:
“The UK is enjoying a more stable economy and job prospects look positive. Now is an interesting time to assess how content the British workforce is, and to try to understand what the key drivers are for staff to stay in their jobs or seek alternative employment. We wanted to uncover how employers can provide a working environment and benefits, or not as the case may be, that employees actually desire, as a means to help improve staff retention.”
The extent of poor employee-boss relationships were revealed in the research. Only 28% said they feel valued by their employer, with a fifth saying that they did not feel valued at all, whilst another 52% only feel valued sometimes.
The survey responses mirror findings from the recent Watson Wyatt Total Reward Survey 2004 which found that non-financial rewards including career development and flexibility, as well as pay have the greatest influence on employee behaviours.
Read the full story here: Employers vow to adopt holistic reward approach