IT employees are set to receive more payouts, benefits
and schemes this year as employers attempt to retain, recruit and
motivate staff.
Up to 77% of IT companies intend to pay a staff bonus in 2005,
according to research published in the Intellect Employee Benefits
Benchmarking Survey 2004 in conjunction with financial adviser
thomsons online benefits.
The research of 100 IT companies looked at different types of
benefits including share schemes, overtime, company cars and health
packages.
Of those IT firms paying a bonus, nearly three quarters (72%) of
respondents said they would offer a bonus for company performance,
while 61% said they would pay out for individual performance.
Up to 60% plan on offering a pay rise this year in line with
inflation. The main HR challenge was found to be retention of staff
and improving morale.
The study showed that IT companies were re-assessing the role
that benefits played in the retention, recruitment and motivation
of staff.
Seventy three per cent admitted they had reviewed their employee
benefits strategy within the past year and almost half of those
companies were prompted by staff retention issues. Another third
reviewed their benefits strategy in a bid to get better value for
their budget.