Emotional Salary - key to loyalty to talent

Darryl Bachmeier
Apr 16, 2019

Times have changed and in the case of the workplace, one of those changes is the impulse of the new generations of workers towards a new way of assessing the compensations that a job can give them.

The salary that employees receive at the end of the month is no longer so important if the company does not offer other types of non-economic incentives for which it is worthwhile to remain within the company. Is the theme sounding? Yes, we are talking about emotional salary.

What exactly is the emotional salary?

The emotional salary is all those non-monetary benefits that a company offers its employees in addition to their salary at the end of each month. That is, getting the job to morally fulfill the expectations of the employee in such a way that he sees a stable future within the company and does not want to change.

Today workers look more for jobs where they can work to live and not live to work.

We are before generations that give more value to the reconciliation of family and work life than to the economic retribution without more. For this reason, emotional salary is one of the fundamental keys to retain talent. But why?

Productivity is no longer something that is based only on the amount of hours an employee spends on the company but on the motivation that the worker has at the time of carrying out their work. It is clear that one of the main motivations is money. However, there are many who prefer a tighter salary in exchange for fewer hours of work and more time for themselves. That is, they prefer emotional motivation.

All those little extras that make the majority work more at ease and in a more productive way. We are facing a company - employee relationship in which both win. The aim is to avoid pirate employees, those who are only in their jobs because of the economic offer and who, sooner or later, will go to another company because it offers them a better offer.

The 6 types of emotional salary

If what we want is to retain the talent within our company and make our workers feel comfortable doing their job, we must know what types of emotional salary we can offer to increase their motivation and commitment to the company.

  1. Opportunities for growth within the company

Knowing that in a company you can start from the bottom, but with the knowledge that you will have the opportunity to demonstrate that you can occupy other more relevant positions is an extra motivation. In this way, the worker will value a stable future within his work, with the opportunity to improve day after day and that this effort will be rewarded with new responsibilities.

  1. Personal and professional development

Allowing the worker to develop both personally and professionally fully will help you to build loyalty. An example of professional development is training within the company itself. The worker wants to learn, expand their knowledge and improve their skills constantly. If you help him do it, he will be happier and more productive.

  1. Good work environment

A work environment without conflicts, in which everyone knows their place is an important point when it comes to loyalty to talent. No one wants to work in a hostile environment where the work team does not share opinions or suggestions.

Encouraging teamwork and developing a company culture is important so that the worker feels comfortable every day that he or she will work.

  1. Culture and company values according to those of the worker

This is one of the ways to ensure the membership and permanence of the candidates in the company. Feel that they are part of something they believe in and above all, with what they agree with.

If at the time of hiring you have in mind the values and culture of your company you have many numbers to incorporate the ideal candidate and that, stay for much longer. To do this, you must know who you want to attract to your company, that is, who is your ideal candidate.

  1. Compatibility of personal and professional life

Flexible work schedules, days off for medical issues, day-care centers in businesses, vacation days by objectives, and endless options are some of the emotional salaries that will help all your employees live better. The quality of life is a very important point when choosing or staying in a job.

  1. Be part of the decisions of the company

When a company has the opinion of its workers makes them feel part of a project in which they are one of the key keys. Ask your employees, encourage them to share proposals and initiatives. Let them see that their voice really matters in the decisions of the company. Let them be creative, and talent loves to show what it’s worth. If you do not let them give free rein to their ideas and carry out their own initiatives, they will go to another company rather than let them do it.

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