6 Things Employees Want More Than a Raise

by Startacus Admin

In a world where money talks, it is a common misconception to assume that all employees are hell bent on supersizing their wage packets. However, according to multiple studies, the happiest workers are not those who earn the most. The key ingredients needed to make a satisfied employee are recognition, fair treatment, and a friendly, inspiring environment.

It will surely come as a surprise to most bosses to find that getting a raise comes far down on the list of priorities. Workers are willing and happy to earn less if they enjoy their jobs and feel proud of what they do every day. This is a hugely important finding, as it tells managers that they can’t just turn to money as a way to hold onto talent.

Keep reading to find out more about the things that motivate and inspire modern employees to strive for the best results.

1.   Recognition

Time and time again, workers have named recognition and acknowledgement of their achievements as the number one priority. Everybody wants to feel like they are a valued member of the team, because there’s nothing worse than grafting for nothing. So, managers need to implement reward schemes and make sure that employees feel the benefit of working hard.Purchasing corporate gifts for your employees is one way to show them that you care.

2.   Fairness

As a manager or supervisor, you absolutely cannot play favourites. Whether you like an individual personally or not should have no bearing on how you view their work. To keep a business running smoothly, the hard workers must be rewarded and the shirkers penalised or shown the door. Don’t fall into the trap of becoming a buddy to the office joker who makes life fun but doesn’t do as he’s told. 

3.   Compassion

Whether you run a company of fifteen or five hundred, your employees are not just numbers on a spreadsheet. They are people with lives and children. They have outside responsibilities and run into tough problems just like you do. There has to be a degree of compassion and understanding for personal circumstance. For instance, if an employee gets a call about a sick or injured child, it is not appropriate to refuse them permission to leave the premises.

4.   Trust

Workers thrive when their superiors establish a circle of trust. They value mutual respect much more highly than bonuses, because it shows a willingness to look beyond job titles. Yes, you may be their boss, but you each have your own roles and require a reasonable degree of independence to carry them out. In other words, try to avoid micromanaging. It is frustrating and suggests that you don’t trust their capabilities. 

5.   Opportunities

Yes, promotions usually mean pay rises, but employees on impressive salaries routinely jump ship for smaller wages at more fulfilling companies. This shows that career progression is more important than money. Workers want to feel like they’ll advance to new challenges and opportunities if they earn the right to do so. Your business should be structured in a way that gives all workers a chance to climb. No position should be a dead end.

6.   A Voice

And, finally, employees are looking for their superiors to act on their behalf when necessary. You should be fully invested in your team. Anything that might jeapordise or damage it must be tackled head on, with you as its warrior and ambassador. There is nothing worse than feeling like your boss would drop you in an instant for their own benefit. It fosters distrust, suspicion, and drives workers to seek better opportunities.

Why Money Isn’t Everything for the Modern Worker

Over the last decade, there have been big changes within the commercial and corporate worlds. Employees are starting to wake up to the fact that big pay cheques don’t necessarily equate to job satisfaction. Now, they’re looking for balance; a healthy relationship between work and personal lives. Crucially, this is something that all of us – including the highest level managers – are in pursuit of. So, it should be goal that employees and managers work towards together.

Written by the team at Promotional Product Experts

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Published on: 6th October 2016