New research by NOP for Investors In People has shattered the assumption that money is paramount in job satisfaction in all businesses.

One in five employees of businesses which have achieved the nationally recognised Investors in People award saw training opportunities as the factor which would have the single biggest impact on their job satisfaction.

However, at non-recognised businesses, the picture was dramatically reversed.

One in three consider pay to be the most important, with less than half this figure putting training opportunities first.

For IIP-recognised companies, better basic pay played second fiddle to training, with just 18 per cent of employees selecting it as most important.

However, when it comes to keeping rather than motivating staff, pay rises are still the best way to keep employees, according to the research.

Twenty-nine per cent of employees said the main reason for people leaving their companies was for better pay elsewhere and over a third surveyed cited pay rises as being essential for staff retention.

Incredibly, however, only ten per cent of owner-managers thought pay rises were an effective way of keeping their people.

George Gilvear, director of employment skills at Sussex Enterprise, said: "Today's top businesses, whatever their size, recognise that understanding how to motivate and retain staff is critical to delivering business results.

"Investors in People is now seen by all kinds of businesses as a route to get the most from their biggest asset - their staff."

Sussex Enterprise chairman and local business leader John Peel commented: "Organisations of all sizes have realised over the years that the reason for their success, and failure, is people.

"Poor investment in time and money in this resource is often rewarded by poor company performance and staff movement to where their needs are recognised and developed."

For details on Investors in People, call Sussex Enterprise on 01444 259198 or visit www. sussexenterprise.co.uk