What Matters More to Employees Than Money

Happy employees are productive employees, and it makes solid business sense for the employer to delve into what keeps team members motivated and engaged. We see so many first-hand stories of both employee and employer poor behavior and recently, two examples were highlighted in the news that caught my ire (Vice and NPR). Both were about employers who were not shining their best light on their behavior, and it caught the attention of the national media. What type of support do employees need from their boss to feel committed? Let’s take a look at what matters more to employees than money.

Work-Life Balance

Making work-life balance a priority in the changing business landscape is one of the biggest things an employer can do to keep employees happy and engaged. Long hours, overtime, chronic stress and mounting pressure can lead to burnout according to Lindsey Wilcox with Nectar HR. Wilcox reports “Giving employees more flexibility will reduce overall stress and help prevent burnout at work.”

Flexibility

Coined the “future of work,” flexible working schedules are here to stay. Jessica Howington for FlexJobs writes, “Smart employers know that offering flexible schedules benefits them, too.” Howington shares three possible components of flexibility, which include allowing employees to:

• Choose where they work from
• Create a work schedule that works best for them
• Schedule their work day however they want

Ongoing Employee Feedback

As the world of work continues to evolve, garnering feedback from employees allows them to feel heard and gives you an updated perspective of how you are doing as an employer. Shayna Waltower for Business News Daily writes, “The benefits of constructive and honest employee feedback include improved employee performance and feelings of validation among staff members.” Waltower reports, “Transparent, direct feedback can strengthen your company and help you succeed.”

Shared Purpose

Working towards the same goal and feeling invested in the mission is a marker of employee satisfaction. Employers who share the long-term vision with their team, and include them in the success have a better chance of keeping employees involved and engaged. It also creates a sense of community when everyone is actively working together towards a common goal that they find meaningful.

A Good Example of Character

A good employer leads by example. When they value and support their employees, showing concern and compassion for the individual, not just the “worker,” but the whole person, they instill a sense of compassion and respect that will go the distance when an employee has to make some hard decisions. Employees show their loyalty with their feet, and keeping a good employee is in the company’s best interest. There may be a time when the employer and employee no longer can compromise on things such as schedules, travel, and pay, but coming to an agreement in a civil manner rather than threatening repercussions is the best possible scenario.

Praise and Investment

Most everyone likes to be appreciated for a job well done. According to a study featured on Entrepreneur, 65% of employees would like more recognition at work. It’s not necessarily about the ribbons or awards, but more about the verbal accolades which are positive motivators. Additionally, when you allow your employees potential for growth, you are also indirectly praising them by letting them know you think enough about them to invest in their future with the company.

Feeling Safe to Fail

When an employee is fearful to try something new or step out of the box with an idea out of fear of losing their job or being humiliated, they will stay safe and not grow. Employers who encourage their employees to take a risk, and allow them to make mistakes along the way, giving them constructive support and feedback, build a network of trust. Employees who are encouraged to be innovative may show their employers their true value and worth. You can’t grow if you don’t fail a time or two.

Money, Money, Money

While pay is not the most important factor, the reality is employees need to make a fair and reasonable wage. When interviewing for a job, no doubt a major factor of consideration will be pay and benefits. When recruiting top talent, good benefits and above-average wages is always something important to consider. Being competitive with other companies helps attract potential employees, but it won’t keep them satisfied without other benefits.

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