4 TIPS FOR THE EMOTIONAL WAGE IN THE COMPANY

If your company wants to bet or bet on emotional compensation for its employees, there are certain things you should take into account. 

Before deciding how to benefit the employees in this aspect, they must know what they want concretely, for this it is convenient to have an action plan and a subsequent evaluation to know if this remuneration is really beneficial for them or not. 

Some companies dispense with this type of employee benefit because they have a preconceived idea that this type of benefit is costly, but there are many that do not represent a financial outlay for companies. 

• Personal recognition: Companies that thank their workers and value the work they do are more productive and have a higher rate of worker satisfaction. 
• Time flexibility: Today we find a large number of companies, especially large ones, that do not allow for adapting their timetables to the personal situation of their employees, even though in some cases it is complicated. 
• Team activities: A good working environment is the basis that determines the success of the company, encouraging activities and socialization among employees is investing both in your workers and in the company itself. 
• Professional development: Closely linked to personal recognition, personal development is based on betting on employees for their promotion within the company instead of hiring new workers, betting on current employees by training them to assume greater responsibilities and improve their skills. Find out all about employee training as an emotional wage. 

What has changed with the emotional wage? 

The way to attract and retain talent, nowadays most jobs have a significant digital component and high qualifications, that’s why candidates for these positions are more demanding, a monetary salary in exchange for their work is no longer enough, they want to feel valued and comfortable within the company. 

Advantages of the emotional salary 

Lower staff turnover. 

Thanks to the emotional salary, workers have more reasons to stay in your company besides the salary. Other job offers will not be as attractive if they do not offer much better working conditions or there is a big economic difference. 

Higher productivity.

Happier employees, higher productivity, it’s that simple. This situation is very profitable since this increase in work performance has not had any economic cost. 

Lower operating costs.

If you offer the possibility of teleworking to your employees, even if you decide to have your employees work 100% remotely, your office costs will be drastically reduced. 

Where do I start if I want to implement measures to increase the emotional wage within the company? 

The key to making the emotional wage a success is to understand what your employees want and need. The best option is to carry out a questionnaire to your employees showing different benefits for them, to find out what their needs and preferences are, such as continuous training or teleworking at present, or as I mentioned before, flexible working hours are one of the most valued. 

If you want to implement an emotional wage system in your company but don’t know how, discover the different types of emotional wage.