According to a recent survey of 2,000 office staff, getting on with colleagues is more important than a big salary.
It found that eight in ten employees would turn down a higher-paid job if it meant working with people they did not like, and three-quarters would struggle to accept more money if it meant more stress.
The message for MDs of service sector corporates is therefore clear. By investing in rewarding, entertaining and motivational events that build loyalty and a cohesive team spirit, companies are more likely to improve staff retention and loyalty than by delivering pay rises or promotions.
“With increasing demand for good staff in the London jobs market, retaining great people is an increasing challenge for service sector companies and the cost of replacing staff, in both recruitment fees and training, far exceeds the £150 per person averagely spent on an summer celebration or Christmas party,” comments Story Events MD, Sarah Kay.
“Through effective branding and messaging during these internal events, they can also be effectively used to reinforce a company’s culture, ethos and objectives”.
The 2,000 Britons polled by the ranked good working relationships, enjoying the role and a short commute as being ultimately more important for enjoying a job.