Attractive workplace for all - Make work pay, make work attractive
‘Making work pay’ generally refers to the imperative that working is sufficiently well remunerated that individuals have an incentive to exploit their productive potential and opt for work over unemployment.
The Orientation 4: Make work pay, make work attractive looks beyond the requirement of making work pay and explores how companies are trying to ‘make work attractive’. It highlights financial incentives that companies are putting in place in order to ensure a motivated workforce by improving one key aspect of quality of work - earnings potential.
The initiatives featured under this orientation include company savings schemes as well as innovative profit sharing schemes. One criterion for inclusion is that schemes are additional to standard salary arrangements and, while variable, never impact negatively on take home pay.
Key findings of the research are the following:
- Most of employee financial participation schemes provided by the selected companies are not strictly related to profit sharing, share ownership, and company savings schemes.
- In most cases the employee financial participation schemes were developed jointly by the management and work councils or trade unions.
- The intention for introducing financial participation schemes is long-term commitment and involvement, creation of a positive working atmosphere, increased productivity and effectiveness of work.
- In some cases, the financial participation schemes
are accompanied by comprehensive training and personnel development
programmes.