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A highly successful reward strategy is not high on employees' wish lists, new research suggests.
More than 60 of the 100 firms in the Sunday Times' list of the "Best companies to work for 2006" admit their strategies are not "highly successful", according to a survey by business advisers Grant Thornton.
Fifty-nine per cent thought their strategies were only "partly" or "marginally" successful and 3 per cent said their strategies had no impact on their business objectives.
Only 38 per cent said their strategies were "highly successful".
Jim Rogers, head of growth and strategic services at Grant Thornton said he was "astounded" by the findings. "Despite their success, these companies are still missing a few tricks in terms of making the best use of the various incentivisation tools available," he said.
Flexible working was the most common reward offered by the firms (used by 89 per cent), followed by staff recognition schemes, like "employee of the month", (86 per cent), Christmas parties (79 per cent), performance-related bonuses (78 per cent) and extra holidays (74 per cent).
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