With the much publicised “credit crunch” occupying an inordinate amount of column inches, there has to be a consideration of the impact this may have on the benefits industry and how employers are going to engage and motivate their employees while trying to cut their costs.

In a recent article for Personnel Today magazine, Virginia Matthews highlighted the enduring need to keep talent engaged when faced with headlines predicting months of doom and gloom.

Interviewed for the article, Peoplevalue’s MD Mike Morgan was quoted as saying, “I think we are some way off from a ’slump’ or recession, but I do predict a slowdown in growth over the next few years, which will give a whole new meaning to staff motivation and retention…most staff want to know first and foremost that their jobs are secure and there is no better way to reassure them than by adding or enhancing existing non-cash benefits, as well as recognising and rewarding success”.

The article continued to consider the positve benefits of employee engagement and reward on creating a valued and motivated workforce, whose increased productivity serves to protect a business’ bottom line from any pinch the credit crunch may threaten.

To read the article in full, click here