Pictured above: Paul Finnity
Almost three quarters of Derbyshire people are working longer
hours in 2011 than they were a year ago, according to a survey by
RSM Tenon.
The leading firm of accountants and business advisors found in a
poll of 1001 people across the UK, that 70% of respondents are now
working more hours per week compared to 2010 and more than the
average 31.8 hours per week.
But few people said they were compensated for their extra hours.
Just eight per cent of people say that they receive any overtime
payment for any extra hours they work, and only six per cent are
given time in lieu.
This change in working culture is highlighted by the fact only
seven per cent say they now work fewer hours than in 2010.
Paul Finnity, RSM Tenon's director of the Derby office's
recovery and insolvency service line, said: "People are now being
asked to do more for less and you could argue that there are
several reasons for this. Many companies may have over-compensated
for the recession and shed more jobs proportionately than the work
they have lost.
"This therefore causes the remaining staff to be overstretched,
and the consequences of that decision are being felt now. Also,
many industries, such as the retail sector and the food and drink
sector, are really feeling the pinch now, so the workforces are
being stretched further to achieve the same results.
"An increase in employees' working hours represents a
significant challenge for employers as they have to try and
maintain their motivation and retention among staff who are seeing
a drop in work life balance but are unlikely to receive a pay
increase for their efforts."
With news like this, it's important to make sure that staff feel
valued, says Mike Tuhme, RSM Tenon's director of tax in the
East Midlands.
"Whatever the economic climate, committed employees should still
be rewarded. Staff who remain in post after difficult times often
feel demotivated. Without careful management, talent can be lost
just at the point when the company most needs good people.
"Taking time to consider and communicate the value employees
receive and perceive will enables companies to be in great shape
for the upturn."
Mike says that company bosses should keep communicating with
employees about current HR and reward strategies.
"As the economy improves, the job market will be revived
and employees can be tempted away - so employers need to identify
key talent and ensure it is retained and rewarded. The value - or
appreciation - of a rigid remuneration package will depend entirely
on the employee's personal circumstances.
"Allowing employees to shape their own remuneration package by
selecting elements of reward that are of most value to them, means
that they feel appreciated."