EMOTIONAL SALARY: MORE THAN JUST A PAY PACKAGE
It’s been proved. Recently many studies have reached the same conclusion: the new generations choose the company they want to work in for reasons that go far beyond financial considerations.
This has given rise to a new term in labor relations: the emotional salary.
What is the emotional salary? We talk of an emotional salary on referring to the perks companies offer their employees to improve their levels of job satisfaction without this actually meaning a pay increase.
A number of factors directly or indirectly influence labour well-being, but two are of particular significance: the work setting and the attention given to the employee by management.
According to data published by the 2016 Barometre, in Spain 72% of those surveyed stated they felt they were shown respect by their management teams, and 56% considered they worked in a stimulating environment. The figures are positive, but leave plenty of room for improvement.
A good atmosphere at work, flexible hours, the possibility of choosing when you take your holidays, remote working and company-provided training are some of the aspects to be borne in mind to foster motivation, since they have a strong impact on employee morale and therefore on their productivity.
The so-called emotional salary reduces staff turnover, increases its efficiency and is a fundamental factor in retaining talent.
In the final analysis, they’re all benefits. Companies know that and have therefore focused on providing non-salary benefits as part of their employees’ working conditions.