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employers offer employees benefits. For some, it is to match market practice, for others it is to provide employees with some measure of security, such as occupational sick pay, while others use them to retain employees, such as occupational pension schemes. Voluntary benefits (where employers provide third-party goods and services at a discount) excite most interest. Flexible benefits schemes are formalised systems that allow employees to vary their pay and benefits package in order to satisfy their personal requirements.

Non-financial rewards

While pay and benefits are important, and getting them wrong can have dire consequences for the organisation, they are not the only rewards that employers should consider. Research shows that non-financial rewards can be just as important. Employers need to consider what they are rewarding and try and align what employees want with the needs of the business. There are various elements to reward from the financial to the non-financial and it’s important that employers chose the appropriate mix of base to variable pay, fixed to flexible benefits, and pay to non-pay rewards.

These include:
opportunities for personal and career development
flexible working (such as working from home or flexitime)
being involved in decisions that affect how and when employees do their work
a pleasant working environment.
good performance management and appraisals.

recognition, such as through an employee of a month award or team-based events.

Both new and old-economy companies currently have to rethink their reward strategies to give the satisfaction to their employees. Newer companies, particularly those in the hi-tech sectors rewarded employees with exciting and challenging surroundings, but with no guarantee of job security. They also offered significant financial rewards, in the form of stock options. Now that the stock options have to be expensed on the profit and loss account, and the traditional companies have stopped providing a job for life, both have to look at new ways of attracting and retaining key personnel. As Smith(1957) stated, “The study of job satisfaction should be able to contribute to the general psychology to motivation, preferences and attitudes”. Job satisfaction refers one’s believe or attitude about the nature of their occupation. The primary aims of job design are to enrich job satisfaction and performance takes into processes includes job enlargement, job rotation and job enrichment. It can be seen from the recent studies that satisfied employees are likely to be more creative, dynamic and committed to their employers and HR practitioners have shown a straight relationship between staff satisfaction and tolerant satisfaction. Moreover, by creating a positive workplace for employees, employer can increase their own satisfaction. (Syptak and et al., 2009).

UK researchers found that part-time workers do not appear to be more or less satisfied ‘with their jobs’ than full-time workers. However, female part-time workers are on average more satisfied with ‘pay’ and ‘hours’ than female full-time workers, but are less satisfied with ‘the work itself’. The same research also found that men in mini-jobs (involving between one and 15 hours of work per week) were generally more sat本论文由英语论文网提供整理，提供论文代写，英语论文代写，代写论文，代写英语论文，代写留学生论文，代写英文论文，留学生论文代写相关核心关键词搜索。