Money not the overriding priority for many workers | Money

The UK’s freelancers and contractors will be unsurprised to hear that money is not the key motivational factor for many workers.

According to a study by the Chartered Management Institute (CMI), the ability to work flexibly and have the opportunity to develop within a business are more important.

These are two of the key reasons why people tend to go it alone and start up their own business in the first place – so perhaps even more people are on the precipice of joining the freelance revolution!

CMI spokesman Mike Petrook says: “Given the current economic climate, it’s time businesses grew up a little bit; they cannot think – and indeed many don’t, now – that it is okay to reward people with pay rise after pay rise.”

“What employers must do is concentrate on building remuneration packages that incorporate the earnings – the take-home pay – with things like development opportunities and flexible approaches to work,” he added.

Other recent news has seen the Conservatives announce the creation of the New Enterprise Allowance which aims to help people unemployed for six months start up their own small businesses. Financial support of up to £2,000 will be made available to those who qualify and the aim will be to create 10,000 new ventures as a result. Though details are still sketchy.

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