Profit sharing a boon to productivity: Survey

More than half of Australians surveyed believe they would be more productive if they were able to share in profits or have an ownership stake in their employer's business, according to the Kelly Global Workforce Index.

The Index obtained the views of approximately 134,000 people, including more than 20,000 in Australia.

The survey also found 30% of workers are currently in an arrangement where some of their pay is tied to performance targets. Gen Y (aged 18-29) and Gen X (aged 30-47) employees are much more likely to be on some form of performance-based pay than those in the Baby Boomer generation (aged 48-65).

However, of those not receiving performance pay, more than a third (37%) said they would be more productive if they had their earnings linked to performance outcomes, with Gen Y the most attracted to it.

Additionally, the survey found there is strong support for employers to take a greater role in improving the health of their workforce, with more than half of those surveyed saying employers should actually provide incentives to encourage a healthier lifestyle for such changes as quitting smoking, losing weight, or taking up exercise.

Managing director of Kelly Services Australia, Karen Colfer, said: "Many employees are actually quite comfortable about some element of their compensation being tied to their individual or group performance. This indicates that many are confident in their ability to perform their jobs well and believe they can share in the rewards of improved workplace productivity.

"Interestingly, we are also seeing a real groundswell of opinion urging employers to not only support, but to actively promote healthy employees and healthy workplaces, something that can produce a positive outcome for employers and employees alike."

Other results of the survey in Australia about employee benefits and perks reveal:

• 57% said that profit-sharing or an ownership stake would motivate them to perform at a higher level, with men much more attracted than women
• Those industries with the highest rates of performance-based pay were financial services, IT, and utilities
• Aside from salary, the benefit that rated most highly was training, followed by flexible hours, vacation or personal time-off, and health benefits
• 77% said that employer-provided health initiatives should be part of their employment package
• The employer-provided health benefit that is most attractive is health insurance, followed by gym access or discounts, a smoke-free environment, and corporate exercise programs