In our fourth snippet from our benefits and rewards article we find that consultancy TBR says giving greater focus to this area of your business can save billions.
New research from economic and research consultancy TBR has found that poor people management is costing British firms £84billion a year.
The analysis found that six factors were statistically significant in explaining improvements in efficiency and performance: strong and inspiring leaders, having a set of strong values, recognising and rewarding performance, structuring work, delivering continuous improvement, and adoption of sustainable practices. Investors in People head of marketing Thomas Bale says: “Interestingly recognising and rewarding performance increased efficiency significantly. Feeling rewarded at work is such a simple thing, but we found it mattered a huge amount.”