HomeInsightsBlogRewarding a quality driven business culture

Insights

Blog // 05/06/2017

Rewarding a quality driven business culture

Rewarding a quality driven business culture

Building a quality driven culture

In the final part of a six piece content series Mike Ayres examines each of the steps that businesses should take if they want to develop and drive a quality driven culture across their organisations.

Read the previous instalments on the quest to a quality driven business culture:


Rewards

Throughout the previous 5 steps I’m sure you have wondered what all of this was going to cost? Of course we believe that by following these steps you will be well on your way maximising the sales, profitability and value of your business, but the final step to set you on this path is to incentivise your employees.

Why? The Benefits…

Everyone’s heard the saying ‘that your employees are your most valuable asset’, but most employers don’t put their money where their mouth is to reward and incentivise them.

Since 2007 and the financial crisis most companies have been holding the purse strings close to their chest. With employment at such high levels we are now in a situation where it is tough for businesses to recruit and retain the best talent. A more attractive employment proposition can go a long way to show existing employees they are valued and that the grass isn’t always greener.

Costs

Rewarding a quality driven business cultureThere are so many options out there and any offer will depend on the individual company. Even simple things like the ability to buy or sell holiday are incredibly well received, but the more choice that is available the more attractive it can be.

One of the best options is to offer a flexible benefits package where employees can select what fits best with their individual requirements and could include: private medical care, income protection, enhanced pension contributions, season ticket loans, and gym membership, travel insurance, cinema tickets etc.

Whilst flexible benefit packages are usually defined as a percentage of salary in the future additional sums of money could be available as rewards for exceptional performance. An alternative to this is a discretionary rewards scheme were additional bonuses or even vouchers are awarded to staff who either deliver exceptional performance or customer service or who put forward an idea that either adds value to the company or provides a cost saving.

Reward Performance


To truly enhance the behaviours that a quality driven culture encourages, it is performance that must be rewarded. By linking the available rewards which could also include flexible working, bonuses and pay rises to your vision and values, existing employees will feel valued and key workers at competitors will be enticed by your offering.


What next?

Review and reinforcement will keep the new culture effective, but it will need constant development to ensure that you can enhance what is working and improve elements that aren’t quite achieving the desired goal.

The overall result will be that more satisfied staff are finding it easier to complete their jobs and your customers are seeing a more consistent and complete service that they are more likely to use again.

As well as having specialists in the business services sector, Menzies also has a consultancy team who can discuss your vision and values and provide further details and recommendations on how you can implement a quality driven culture.

To discuss further and see how we can help you contact Mike Ayres by email at mayres@menzies.co.uk or by phone on 01252 894911.


More for More – Six Steps to Instilling a Quality Driven Culture

A ‘more for more’ business culture is key to the future success of service sector businesses such as those in legal, recruitment, financial services, marketing and other professional services. Menzies Business Services Insights report details how to instil and maintain a quality driven culture.

Business Services sector white paper

Download our FREE Business Services white paper.


Print Friendly, PDF & Email


RELATED CONTENT
  • 2018 EU reclaims: Change of filing deadline in the event of a no deal Brexit

    Carol Hallam – VAT Senior Manager Urgent action is required if you incur EU VAT in the member states and recover the VAT through the online EU reclaim portal. HMRC have advised that in the event of a no deal Brexit, the 2018 EU VAT claim will need to be submitted by 29 March 2019 […]

    Print Friendly, PDF & Email
    READ MORE >
  • How competitive is the UK’s tax system in relation to others?

    Although the government is proud of the UK’s position with its most competitive tax system in the G20, initiatives such as the BEPS (Base Erosion and Profit Shifting) project, which has already been adopted by 124 countries, making it harder to stand out from the crowd. With tax becoming an increasingly important global topic, the […]

    Print Friendly, PDF & Email
    READ MORE >
  • Is your profit data misleading you? Part 1 – valuable insight

    Tim Dunn – Strategic Advisory Partner Developing good products and services is important, but it is not everything – commercially there are a number of pieces of the jigsaw that need to come together if a business is to achieve its potential and fulfil the owner’s dreams. Ultimately, profitability must be a key consideration – […]

    Print Friendly, PDF & Email
    READ MORE >