Australian employees say profit sharing would boost productivity | Kelly Services Australia
Australian employees say profit sharing would boost productivity
Sydney, Australia, August 11, 2010
More than half of Australians surveyed believe they would be more productive if they were able to share in profits or have an ownership stake in their employer’s business, according to the latest survey from workforce solutions leader Kelly Services.
The findings are part of the Kelly Global Workforce Index, which obtained the views of approximately 134,000 people, including more than 20,000 in Australia.
The survey also found 30 per cent of workers are currently in an arrangement where 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.
Additionally, the survey found there is strong support for employers to take a greater role in improving the health of their workforce, with more than half of those surveyed saying employers should actually provide incentives to encourage a healthier lifestyle for such changes as quitting smoking, losing weight, or taking up exercise.
Managing director of Kelly Services Australia Karen Colfer says, "Many employees are actually quite comfortable about some element of their compensation being tied to their individual or group performance. This indicates that many are confident in their ability to perform their jobs well and believe they can share in the rewards of improved workplace productivity.
“Interestingly, we are also seeing a real groundswell of opinion urging employers to not only support, but to actively promote healthy employees and healthy workplaces, something that can produce a positive outcome for employers and employees alike.”
Other results of the survey in Australia about employee benefits and perks reveal:
- 57 per cent say that profit-sharing or an ownership stake would motivate them to perform at a higher level, with men much more attracted than women
- those industries with the highest rates of performance-based pay were financial services, IT, and utilities
- aside from salary, the benefit that rates most highly is training, followed by flexible hours, vacation or personal time-off, and health benefits
- 77 per cent say that employer-provided health initiatives should be part of their employment package
- the employer-provided health benefit that is most attractive is health insurance, followed by gym access or discounts, a smoke-free environment, and corporate exercise programs
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, 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.
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