The Importance Of An Emotional Wage In The Workplace

If you want an employee to do a good job, it is important to offer them a good salary as well as bonuses or other monetary incentives. However, money is not the only thing that keeps employees motivated and happy. In this regard, emotional pay has become more popular in today’s workplaces.

Dr. Steven Poelmans, Professor of Neuroscience and Strategic Management at Antwerp Management School in Belgium, says that “An emotional salary is set with non-financial benefits that a company offers its workers and which compliments the traditional salary with new creative formulas that adapt modern needs. ”

An emotional salary motivates employees and allows companies to retain their talent. This second benefit is so important that we will discuss it a little later.

The types of emotional pay

The different types of emotional pay vary from company to company, but there are some basic variations that can lead to happy employees:

• A good working environment. Having a good working environment will ensure that the employees feel good and work effectively as a team. Bringing in an occupational psychologist is a way of resolving conflicts that arise between colleagues.
• Personal and professional development. Offering ongoing training opportunities for employees is crucial. Further education to refresh old qualities as well as learn new ones, is a very good way to keep employees motivated. Offering employees a way to be promoted can also have very positive results.
• Compatibility with personal life. Giving days off for medical appointments or for taking care of personal events, having a flexible schedule, letting employees work from home one day a week, or giving employees vacation days to achieve certain goals are all great elements to include in an attractive emotional paycheck.

• Having a voice in the company. Listening to the opinion of the employees before making decisions is very important. They are a fundamental part of the company and nothing would work without them. Therefore, giving them a voice, listening to them, and showing them that their opinions and feelings matter, will lead to positive consequences.

The importance of retaining talented employees

In a way, good emotional pay is a way to keep talented employees in the company. On the other hand, it is also important to hire the right people. Each company has its own values ​​and if the potential employee does not match these values, it does not matter how good emotional pay you offer.

Therefore, each company should have some idea of ​​what their “ideal employees” are like. This will also help them choose the type of emotional pay that will be important to the ideal employee, and the ones that are not as relevant.

Talented people are very valuable. They have creative brains that can help the company get further as well as reach goals they previously thought were impossible. They fall into the category of “ideal candidate”, and when they are part of the team, it would be a mistake to let them go.

A good salary is not enough to keep talented people. If another company comes and offers them more flexible hours, a kindergarten in the same building, a cafeteria and a break room, they will most likely stop and start working there.

All employees need an emotional paycheck to feel that their work is meaningful and has opportunities for professional development. When employees are motivated in this way, they will want to work hard to achieve their goals. A successful workplace is a workplace where both the company and the employees win.