Emotional salary
is a concept that has gained considerable traction in recent times. What employees receive at the end of the month is no longer as important if the company does not offer other non-financial incentives that make it worthwhile to stay with the company. Times have changed, and in the workplace, one of those changes is the drive among new generations of workers toward a different way of valuing the compensation that a job can bring them.
What is emotional salary?
Emotional salary
refers to all the non-monetary benefits that a company offers its employees in addition to their end-of-month salary. In other words, it means ensuring that the job morally fulfills the employee’s expectations, so that they see a stable future within the company and thus retain talent. The key to the rise of
emotional salary
is that new employees are looking for jobs where they can work to live and not live to work. They value work-life balance
more than financial compensation alone. For this reason, extras and conditions are one of the fundamental keys to retaining talent. But why? We could say that productivity
is no longer based solely on the number of hours an employee dedicates to the company, but on the motivation that the worker has when carrying out their work.
Types of emotional salary
Emotional salary is a fundamental factor in retaining talent. Increasingly, people choose a company to work for based on factors that go far beyond salary. Here are some of the key points:
- Flexible hours Nowadays, it is possible to work an eight-hour day without having a strict start or finish time. Here, what really matters is doing our job without having to spend eight hours in an office.
- Teleworking This is highly valued by the new generations of workers, who are accustomed to using computer tools. It is also an important benefit for parents with children or sick relatives who find it very difficult to balance work and family life.
- Internal promotion Knowing that you can have a career plan within a company and that you will have the opportunity to prove that you can take on other more relevant positions is an extra motivation. This way, employees will value a stable future within their job with the opportunity to improve day by day and that their efforts will be rewarded with new responsibilities.
- Training Employees want to constantly learn, expand their knowledge, and improve their skills. If you help them do this, they will be happier and more productive.
- Good working environment. Encouraging teamwork and developing a good company culture is important for employees to feel comfortable every day they go to work. A conflict-free work environment, where everyone knows their place, is an important factor in retaining talent. No one wants to work in a hostile environment where the team does not share opinions or suggestions.
- Company culture. If you keep your company’s values and culture in mind when hiring, you are much more likely to recruit the ideal candidate who will stay for a long time. To do this, you need to know who you want to attract to your company, that is, who your ideal candidate is. This is one of the ways to ensure that candidates feel they belong and stay with the company. They need to feel that they are part of something they believe in and, above all, agree with.
- Recognition. We all like to be told the things we have done well, not just the things we have done wrong. Simple words such as “thank you,” “congratulations,” “well done,” and “I trust you” are part of an emotional salary that sometimes compensates and satisfies much more than any financial remuneration.
And what are the advantages?
Emotional salary has three main advantages:
- Psychological well-being. When employees see that the company cares about their personal needs, they feel motivated and their work is recognized, which helps reduce stress and increase their commitment and motivation.
- Work-life balance. Offering flexible working hours or benefits such as childcare helps parents balance their work and family life, which also boosts their productivity.
- Opportunities for self-development and improvement: Skills development courses, coaching programs, or language training help employees improve as individuals and as professionals.
In our experience over the years, we have found that having free fruit in the office is a benefit that tangibly contributes to a better working environment.
When your employees have fruit in the office, they know that you care about them and that you are making an effort to make their working day more complete and better. And for us, knowing this is a great contribution to our emotional salary. To help improve your employees’ emotional salary, check out our comprehensive solutions or fruit delivery service.
