Myth 4: Productivity will only improve through financial incentives

The reality…

There are many ways to improve productivity. Employee benefits engage staff and increase motivation and, while money still matters, the link between it and productivity is not as strong as it once was.

What is also far more important to productivity is an employee’s relationship with team colleagues. Glenn Coleman, International Benefits Manager at Worldpay, points out that: “It’s more about your relationship with your line manager and recognition from peers.”

Any number of engagement surveys will show that this is what drives employees forward on a day-to-day basis. What productivity really means in many businesses is simple to explain. Businesses that used to offer simple products, now offer multi-layered services that are inherently complex.

It is harder to see the value-add from an individual employee or whether a cash incentive helps – and this is where payroll and HR professionals can make an impact.