Flexible remuneration: why offer it to your employees?
Have you heard about flexible remuneration already? Flexibility is this century’s word for workplaces. Millennials came to stay at companies for a long time and they’ve changed the rules of the game since they arrived.
Working at the same place for life and scaling the company ladder isn’t what these employees want. They need freedom, autonomy, and the ability to manage their own workloads and schedules.
Of course all that comes with adding great value and delivering awesome results. But there’s a hard reality when it comes to attracting and retaining talent: companies that can’t adapt to this way of working are losing their employees to those that can.
In an increasingly complex business era, being able to attract and retain talent is the main challenge. How can I get the best workers to want to work with me? How can we know what they want and give it to them? How can we compensate them properly?
Flexible remuneration comes as an answer to all those questions. In this article, we’ll dive deep into the reasons why offer flexible remuneration to your employees.
Flexible remuneration: emotional salary for talent attraction and retention
All the debates on flexibility and relatively new ways of employee compensation have brought the concept of emotional salary to the table. Do you know what that is?
Emotional salary is defined as all those non-financial ways of compensating employees that satisfy different levels of their needs. Emotional salary is often perceived as stronger than monetary payment. That’s what flexible remuneration really is about.
There are many ways to promote emotional salary among employees:
- Remote work: since the pandemic, companies had to admit what had been obvious for the past decade. Offices are no longer essential for work. Giving employees the possibility of working remotely at least some days a week is a good way of compensating them for their great value.
- Benefits and perks: for years, companies gave things like coffee or snacks for work. Be original and think of something else that your employees might be needing. Maybe it’s healthy snacks, maybe is some free afternoons a week, or a “take your dog to the office” day. Find out!
- A self-paced work schedule: 9 to 5 is outdated. Most times there’s no need to keep a fixed schedule for work, and let’s be honest: who can work focused and productively 8 hours in a row?
- Training for companies: it’s maybe one of the most valued benefits a company can provide, and you also can make it part of your flexible remuneration plan. Being able to grow personally and professionally is among the top reasons why employees choose to work and stay at a company.
- Good work environment: there are many ways of creating nice work environments, apart from team building activities (great torture for introverts, if you ask us). Find out your employees’ styles and build something fun that helps your teams to bond.
- High salaries and good payment: it’s more than just money. It’s about employees perceiving that their skills are valuable and that’s why they’ll be highly compensated.
- Flexible remuneration: the possibility of employees getting products or services exempt from taxes will increase their net salary worth and make them feel the company takes care of their needs.
Why provide training for companies as part of your flexible remuneration plan
As you learned above, the possibility of learning new skills, and professional and personal growth are among the top three reasons why employees choose to stay at a company.
You can implement training for companies as a way of flexible remuneration. It will benefit both the employee (that gets to improve their skills) and the business (that will get a more talented workforce).
Training for companies brings many benefits, such as more committed and dedicated employees, and an upgraded, more productive, and goal-oriented workforce.
The reason for that is simple: people that get more than just a salary from work feel valued and taken care of, and that has a huge impact on their daily work.
What kinds of training for companies can I implement as part of the flexible remuneration plan?
Language training for companies: that your employees dominate certain languages is essential for business is no secret. Discover why.
Project management training: your entire workforce should know how to tackle a project.
Soft skills training for companies: these skills are the “how to” that people need for their work to be really effective.
Soft skills training: improve your employees’ talent, increase the value of your workforce
Hard skills are the technical abilities your employees need to execute their daily tasks. Soft skills are the emotional and psychological skills they need for their daily work to be effective. That’s why soft skills training for companies is key to business success. Some soft skills are: