Is salary alone the reason why a person changes or stays with a company?

Recent research indicates that there are other factors that influence a person to value a job. What we do know that is taken into account is the perceived attractiveness of the company in general.

What does this imply? To create an attractive company environment, it is advisable not only to focus on KPIs (Key Performance Indicators), but also to pay more attention to the employees’ own experience within the company. After all, these positive experiences are the fuel for action, and these good feelings and good internal company relationships lead employees to work more effectively.

Some factors related to positive emotions in addition to salary that can help retain talent include:

1. Professional development opportunities.

According to Maslow’s pyramid, if a person’s basic needs are met, he or she can focus on growth and development. The provision of wages and job security is the absolute minimum to meet an employee’s basic needs. But for staff to fully participate in the work process, it is necessary to go beyond their basic needs.

2. Interesting and engaging projects and internal training.

The more employees become familiar with the company, the more their hobbies and personal interests become apparent. Being able to offer each employee the job position that best suits his or her qualities benefits both the employee, who performs more extensively, and the company, which achieves more efficient production. For example, the office manager may have skills and a passion for graphic design, and the warehouse worker wants to do more by training to work as a sales manager.

3. Freedom and responsibility in the performance of work.

Showing some confidence and freedom in work issues gives the employee a sense of trust, responsibility and ownership. Assigning these responsibilities benefits both the company and the employee who feels more valued and, as a result, ready to take on even more. Professional recognition is an important motivation for many people.

4. A positive company culture.

Having a good corporate culture creates a strong bond between the links in the workforce. The more employees share goals with the company, the more the relationship is established between them, creating a sense of belonging and responsibility. To encourage this, it is essential to foster open and honest communication.

5. Offering flexible hours and work-life balance.

The post-Covid-19 situation has forced many companies to be more flexible in terms of working conditions and to allow employees to work from home. Flexible hours are good for productivity. After all, the goal is to maintain a healthy work-life balance.

In conclusion, it should be noted that monetary motivation is not the only factor that contributes to retaining valuable specialists. The most important factors are intangible: gratitude, feedback, play, learning, growth, leisure, transparent communication and autonomy. These are the core elements that should form the basis of any employee program, and fortunately, for most companies they are available.