The CIPP supports Employee Motivation Day
21 January 2015
Today marks the UK’s first ever Employee Motivation Day which has been created to inspire passion and appreciation across the UK’s workforce and the Chartered Institute of Payroll Professionals (CIPP) is encouraging payroll to be involved.
With money being the main reason that people come to work, payroll has a huge impact on employee motivation. Therefore paying people accurately and on time, every time is essential to encouraging employee motivation. However, we are using employee motivation day to highlight other ways in which payroll can motivate employees.
According to a survey carried out by the Citizens Advice Bureau “around half of all respondents in employment and struggling with debt said their work performance was suffering (51%). Of these, one in two are finding it hard to concentrate at work (54%), while more than one in three (36%) are finding it difficult to do their jobs well.”
Payroll can help! And for the last 12 months the CIPP has had a “saving through payroll” campaign. The sole aims of this campaign are to help people out of debt and avoid pay day loan companies, but more importantly help people to avoid debt in the first place through financial awareness and education in the workplace.
Our objective is to encourage all businesses to offer saving through payroll, and for payroll to take the lead in educating their employees about their pay, pensions and saving for retirement, deductions from pay, and how their organisations reward strategy and benefits package can assist them financially.
The CIPP’s Karen Thomson, Associate Director of Policy, Research & Strategic Visibility says “whilst payroll cannot cure the financial problems of the UK, there is a lot payroll can do to help. Payroll departments take all sorts of deductions from pay, so saving through payroll would just be another one. Working with organisations who can help payroll automate the information going from and to the financial provider will limit the burden on payroll but provide an incredible service to their employees”
How can employers help? Offer a savings scheme where deductions come straight from the employee’s pay. There are a number of schemes available from Christmas savings, to every day savings provided by organisations such as Credit Unions, banks and other financial third parties. The CIPP has also been working with payroll service providers to offer this facility without charge; what are you waiting for!
Employee motivation day links to the CIPPs National Payroll Week, taking place 7-11 September 2015. During which organisations across the UK are hosting workshops for their employees to find out more about the support that is available to them and how they can benefit from the reward strategy on offer through their employing organisation.
To find out more about operating saving through payroll schemes, or how you can offer financial awareness and training with support from the CIPP, email Karen Thomson.