Emotional Salary: The Key To Improving Employee Happiness and Retaining Talent

Times have changed, and in the workplace, one of those changes is the impulse of new generations of workers towards a new way of assessing the compensation that a job can bring them. The salary that employees receive at the end of the month is no longer so important if they do not offer other types of non-financial incentives. It is worthwhile to remain within the company. Is the theme sounding to you? Yes, we are talking about the emotional salary.

 

But what exactly is the emotional salary? 

Emotional salary is all the non-monetary benefits that a company offers its employees in addition to their monthly wages. That is, getting the job to morally fulfill the employee’s expectations so that he sees a stable future within the company and does not want to change. Today workers are much likely looking for jobs where they can work to live and not live to work. Before generations, we give more value to family and work-life reconciliation than to economic retribution without more. It is for this reason that the emotional salary is one of the fundamental keys to retain talent. But why?

 

Productivity is no longer based only on the number of hours that an employee dedicates to the company but on the worker’s motivation when carrying out his work. One of the main inspirations is money. However, many 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 most work more comfortable and more productive. We are facing a company-employee relationship in which both win. The objective is to avoid pirate employees, who are only in their job because of the economic offer. Sooner or later, they will go to another company because it offers them a better offer.

 

The six types of emotional salary

So, if you want to retain talent within your company and make your workers feel comfortable doing their jobs, it’s essential to know what types of emotional salary to offer to increase their motivation and commitment to the company.

 

#1. Opportunities for growth within the company 

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

 

#2. Personal and professional development 

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

 

 #3. Good work environment

A conflict-free work environment in which everyone knows their place is critical for retaining talent. Nobody 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 they go to work.

 

#4. Culture and company values ​​should be consistent with those of the worker 

That’s one of the ways to ensure the membership and permanence of the candidates in the company. Feeling that they are part of something they believe in and, above all, what they agree with. If you have in mind the values ​​and culture of your company at the time of hiring, you have many numbers to incorporate the ideal candidate and that they 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.

 

#5. Compatibility of personal and professional life 

Flexible working hours, days off for medical matters, company daycare, vacation days for objectives, and endless options are some of the emotional salaries that will help all your employees live better. Quality of life is a very relevant point when choosing or staying in a job.

 

#6. Be part of the company’s decisions 

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

 

The way we work and live has changed! So, why do you keep recruiting in the same way?

It is clear that salaries are no longer entirely economic and must be following a proper emotional salary that allows you to retain the best talent within your company. After all the effort you put into attracting and hiring the ideal candidate, you cannot miss it. Therefore, applying these six types of emotional salary will be the basis for forming a motivated and happy team.

 

Germany: More and More Employees are Dissatisfied

Employees in Germany are increasingly dissatisfied. That’s mainly because the so-called work-life balance is playing an increasingly important role. The shortage of skilled workers is forcing companies to pay tribute to modern times and be more innovative. Many companies can implement some factors for higher work motivation.

Work motivation and job satisfaction

Gone are the days when potential employees signed every toggle contract. The work-life balance is an important factor for the modern generation. Interested parties place high demands on an employer beyond the desired salary.

Which factors influence job satisfaction?

Importance of Job Satisfaction and 4 Tips to Achieve

What is job satisfaction anyway? It is a subjective perception of the employee about his job. This arises from the current situation. Everyone values different factors and has different high demands. That is why it is difficult to say in general when an employee should be satisfied and feel comfortable at work. Factors that influence a positive or negative image of one’s own workplace are:

 

  • Recognition: A thank you or praise to the right place

  • Compensation: Appropriate, punctual, and negotiable

  • Flexible working hours: flextime or home office with time recording

  • Reconciliation of work and private life: work-life balance, part-time for parents

  • Working atmosphere: friendly cooperation, clear structures, inclusion

  • The difficulty level of the tasks: neither under- nor overburdening tasks, making your own decisions

  • How to get there: Long commutes and expensive train journeys versus job tickets 

  • Career opportunities: advanced training, opportunities for advancement, challenges, responsibility

  • Security: a permanent position, the knowledge to be needed

Satisfied employees work better: their motivation is increased, and they identify with the company more efficiently. Full-time employees spend much of their day at work. If you feel comfortable there, it has an impact on your overall quality of life. It is not only said that money alone does not make you happy. Even a pay rise only motivates for a certain period. A calling, not just a job, has a meaningful effect and satisfies the need for self-realization. Overtime doesn’t have to be a demotivating factor automatically. Employees can even be encouraged with the right approach to plus hours:

Some bonus tips for you

Taking Care of Your Employees Goes Beyond Their Safety | SCORE

Small and quick increases in motivation can easily be incorporated into everyday life:

  • Order a fruit basket for all employees.

  • Offer the opportunity for lunch breaks together.

  • Actively get feedback from employees.

  • Draw a shared vision for all employees.

  • Go out to eat together.

  • Show that the health of your employees is important to you.

What role do work-life balance, career advancement, and employee surveys play?

In our society, the working world no longer plays the first fiddle for many. The younger generations don’t feel like working 12 to 15 hours a day. They also don’t want to bend. They want a job that suits them. It’s doubly difficult for companies. Because especially in times of a shortage of skilled workers, you have to consider how you can bind the right employees to your company at the right time. Little things in everyday life play a role: An office without free coffee and other drinks? Where do you get that? One possibility is also to train the employees themselves in their areas and to develop their potential. For only 17 percent of German employees, there is professional career support in their company. Many employees feel that they are too poorly prepared for the future in their job. But how do employers find out? How should I know if my employees are dissatisfied with the company?

What is the work situation like?

The perception of the manager's health, a chiaroscuro reality? | IMSGeneva

Half of the employees are dissatisfied with their current work situation. After all, more than a third would recommend their own employer to their friends. But it is almost half of the employees who would change their job. One in five is looking for a better-paid position. Eleven percent of employees want more flexible working hours, and 15 percent want more recognition. Companies are challenged to promote the issues of appreciation and internal career planning to retain skilled workers. 

Only 15 percent have a strong emotional bond with their employer!

The 6 Most Familiar 'Bad Boss' Types and What to Do About Them

According to this, only 15 percent of German employees have a high emotional bond with their employer. An emotional bond leads to more commitment and sales. A negative attitude towards the workplace leads to less identification and, therefore, less sense of duty. Work motivation is closely related to the situation on-site. However, this is one of the factors in motivation that managers can change. A higher work motivation increases work performance. 

How to Be A Good Leader?

Leadership is a fundamental part of any business, and that is why knowing how to be a good leader is very important, both for company managers and for those who manage work teams. Understanding the qualities that a true leader has and putting them into practice will make an entrepreneur succeed in his or her goals. Therefore, the main characteristics of a business leader will be presented below.

 

The difference between the boss and the leader

There are many ways to lead a work team. However, and although these two terms are sometimes used synonymously, acting as a leader is not the same as acting like a boss. Each employer or manager must decide to opt for one of these two options.

 

Leader

The leader is the businessman who manages to instill in his employees a feeling of loyalty. You don’t need to order employees around because your way of telling them to do something is by encouraging them and setting an example for others to follow. Without any doubt, a leader is someone who builds trust among those around him and encourages teamwork.

 

The boss

The boss also makes his employees do what they have to do. Also, it doesn’t require as much left hand as the leader. You don’t even need to lead by example; you just need to say what to do. Your duty is to give orders that employees must follow. However, although it may seem easier, the reality is that it is not as effective. Workgroups based on this system do not usually last long because members feel inferior and lose their work enthusiasm.

 

How to be a good leader: 5 characteristics

Until a few years ago, it was prevalent for most companies to have bosses. Leadership was not taken into account for the management of the work teams. However, someone realized that this did not have great results: the employees were not loyal to the company or did the work with pleasure. For this reason, in recent years, great importance has been given to the leader’s figure! It’s that person who knows how to manage the team, motivate it, and get the best out of each member. But what is a good leader like? What are their characteristics? Let’s check them out!

 

#1. Exemplary

The first thing any industry leader knows is that your example outweighs your words. It is no use giving orders in one direction if your actions go the other way. For this reason, those who are thinking of becoming leaders must begin to set an example within the organization. The leader’s competencies and abilities go through setting an example by doing what he should do so that the other team members follow him.

 

#2. Respectful

Without a doubt, these two qualities are fundamental for any type of leadership. Of course, it is impossible to be a good leader if you do not respect others and for your work. Respect is essential for any type of relationship, and in the workplace, the different members must respect each other. Also, integrity should not be missing from the list of qualities of a good leader. Integrity is not just about being sincere and honest. This word covers much more; a person of integrity is a faultless person. A leader should be a person that his team can trust one hundred percent.

 

#3. Charismatic

People with charisma have a great advantage over the rest. They can attract the rest of the people with a gesture or a phrase. They don’t need much to make those around them feel good. But this is not something innate that cannot be acquired voluntarily. The charisma is worked. A charismatic leader is one who doesn’t need to say too much to win over his team. He makes the people around him work to the best of their ability. Bring out the best in people with smiles and melodic phrases. You know how to get an employee to put their worries aside and dive into work with a smile.

 

#4. Resolutive and proactive

Companies are constantly in trouble. Commonly, there are issues to solve every day. It is no surprise that someone who claims to be a leader will need to have the keys necessary to solve the situations. A leader must be decisive and proactive. Instead of focusing on the problem, the leader is the one who seeks the solution as soon as possible.

 

#5. Humble

In recent times, the term humility has been somewhat confused. Many believe that being humble means letting yourself be trampled on by anyone who wants to do it. However, nothing could be further from the truth. Humility does not require stopping. The humble person is only aware that he has limitations, like any other human being.

For this reason, he is not arrogant. Know your limits and accept that others also have theirs. Therefore, he is patient with his colleagues or employees and does not brag about his position if he has one.

 

Be the team leader

Of course, there is no question that the companies of this century need leadership. There need to be leaders managing work teams, as they have been widely shown to increase performance. The type of management carried out by a leader, as opposed to that of the boss, reveals much happier and more motivated employees and better results. Therefore, managers and business people must learn how to be a leader, so that their results become excellent.

Celebrate Halloween at Work

You might not be 7 years old anymore but trick-or-treating still seems to be a fun tradition! You can still celebrate Halloween in your office as it is considered to be one of the best holiday tradition to be celebrated at work. Over the years, Halloween parties have gained popularity among employees. It is believed that celebrating Halloween at work awakens the child within everyone and creates a motivational team spirit. Since it is not considered as part of a day-to-day work agenda, Halloween celebrations at work should be a voluntary event.

How to celebrate Halloween at work?

The first step towards a successful Halloween party is to have a small committee amongst employees to make sure that very planning goes according to everyone’s liking. It would be fun if everyone gives out their ideas. Suggestions should always be welcomed. If you are planning to execute this tradition yearly, it would be wise to put up a planning committee and rotating the members. That way, no one will feel alienated and everyone gets a chance to participate in the planning. When different departments take the planning responsibility, that will give birth to new ideas.

Celebration Ideas for Halloween at work

Spark your creative mind and open yourselves to the world of possibilities by planning the most unique Halloween party at work.

Costume Parade:

No Halloween party is complete without a costume. A costume parade is a must during Halloween celebration. Keep the event simple by encouraging people to enlighten their creative mind and come to work with their costumes. You can as well keep a prize for the best costume. It will encourage people to participate in celebrations. Staff voting will be a plus as people who are not participating will get a chance to be part of the event and have their share of fun. You can divide the awards into the scariest costume, the sophisticated one, creative one and so on. Give out participation certificates for those who made an effort to dress up but could not win an award.

Halloween Lunch or Breakfast:

You can offer cider and doughnuts as they are popular Halloween breakfast treats. Nowadays you can find a lot of Halloween themed food art on the internet. If you are into cooking or baking, it is the perfect occasion to show off your talents. Bring out the pumpkin pies decorated as a monster or some apple muffins. As for lunch, you can get your takeaways decorated in orange and green foil papers. You can as well opt for some pizzas. Make sure that all the employees are seated together and enjoying the party. Keep your eerie music playlist handy.

Halloween Decorations:

Encourage all departments to take part in a decorating competition. That way, all the members of that department will work together to decorate their area. Give out prizes for the best-decorated area in the office.

Trick or Treating:

Tell your employees to go cubicle to cubicle to share their treats as well. Give each of your employees a bag of treats to add to the fun. If your company budget allows it, you can as well get your company logo printed on the bags so the employees can keep it as a memory of a fun activity.

Hold a costume party for the children of your staff to reinforce family bonds. Arrange for some fun activities which can serve as employee’s team building and staff motivation session. It creates a great bonding between employers and their staff. A good idea of celebrating Halloween is to invite children with special needs for a trick and treat session.

Plan philanthropic activities for employees:

Halloween is a great opportunity to share some joy with the unfortunate. Invite your volunteers to visit a senior care center with their costumes and a lot of treats. You can also visit an orphanage and share the Halloween joy with the less fortunate kids. Imagine the smile on their faces to be celebrating Halloween for the first time maybe. Collect clothes or food to give charity to the local church or food banks is also a good option. You can prepare some food and share with the elderly as well.

Organize a pumpkin carving contests and other games: Since pumpkins are essential for a successful Halloween party, invite your staff to flaunt their artistic side by organizing a pumpkin carving competition. You can encourage staff to bring their kids to add to the fun. Bring out the old Halloween traditions by organizing bobbing for apples.

Most importantly make sure to run all your ideas through your boss first before diving into the preparations. Do not force any of your colleagues to participate, if they only want to participate in the planning process, so be it. It is festival time and everyone deserves a break!