Money makes the worker world go round

Two in three employees prefer financial rewards over straight non-cash benefits or internal recognition – a sharp increase from 12 months ago, according to a survey by Hays. It found that 69 per cent of employees surveyed said they prefer financial rewards, with 16 per cent preferring non-financial rewards and 15 per cent preferring internal recognition. “Financial rewards such as bonuses or an earlier salary review have become increasingly important to employees over the past 12 months. Consequently, an effective reward strategy needs to incorporate cash components,” said Grahame Doyle, senior regional director of Hays.

Training critical to solving positions vacant crisis

If Australia is to cope with the strain on skills created by 12 years of uninterrupted economic growth and rapidly ageing population, it must improve the status of trades, access the untapped workforce and reinvent the elements of the ‘moribund’ TAFE sector, according to Federal Minister for Vocational & Further Education, Andrew Robb. Speaking at a recent RCSA forum, he said boosting the perception of trade careers was also crucial to attracting new workers into the sector. “What is needed is a cultural change, a change in mindset where a high quality technical qualification is as prized as a university qualification,” he said