Contrary to popular belief, employees place a higher value on other aspects of their work-life than salary. The internet is a buzz with recent studies and surveys. All indicate (in one way or another) that the top motivators are;
- Corporate Culture – a positive, progressive, fun, exciting work environment.
- Recognition – by Management and/or peers for a job well done.
- Support – the tools and resources they need in order to perform their job.
- Training/Mentoring – initial and ongoing training and mentoring so that they can excel at their jobs.
- Perks – extra benefits such as employee discounts, Public Transit discounts or vouchers, Flex-time.
Most of the items on this list are free (i.e., a Thank You), a part of your job as a Manager/Business Owner (i.e., mentoring, training, creating and maintaining a positive work environment) or low dollar (i.e., employee discounts in the lunch room or on the products you sell, corporate participation in local Public Transit programs).
This list represents a summary of what the articles (and candidates I speak with) are saying. The point is, employees are placing a greater value on their work-life experience, than salary alone. The good news is it’s never too late to implement new programs or fix existing ones. And, this information is not exclusive to sexy new Tech startups. Whether you’re in manufacturing, publishing, retail, healthcare, education, etc., your employees all want the same thing. A better work-life experience.
Creating an environment where employees WANT to work ultimately results in higher job satisfaction, higher productivity and higher employee retention rates. In the end, everyone wins.