Op-Ed: Emotional paycheck, the new currency for happy and productive employees
The world is changing. The integration of new generations into the workforce has changed the way we feel more productive and appreciated at work. It’s not only enough to have good economic remuneration, which, although important, is not a priority for many today.
Today, more than a good salary is required to keep employees motivated, inspired, effective and productive in their work areas. This is why more and more companies are focused on offering additional non-monetary benefits.
Companies like Apple, Google and Facebook have within their priorities to offer an Emotional Paycheck, which is everything that a company can offer its employees and/or collaborators that has nothing to do with money.
To offer an Emotional Paycheck is to give employees the opportunity to grow integrally in each area of their lives, while putting their skills at the service of a company, their skills and talents.
A good Emotional Paycheck program could include childcare, recognition, freedom to set your own schedule, personal and/or professional coaching, continuing education in personal finance, health, emotional intelligence, effective communication, leadership, among others.
It goes beyond money; it is growth and personal development that transcends in a more effective way in the productive life of employees and their results.
According to a study by the IOpener Institute in Oxford, companies with happier employees point out that they improve in aspects such as: 30% increases in productivity, 37% in sales, 44% in retention and 300% in innovation. Happy employees remain twice as long in their tasks, have 65% more energy and their loyalty to the company is greater. This in turn, among others:
- Reduces hiring and training costs;
- Reduces absenteeism;
- Increase focus on important activities;
- And this in turn reduces errors and accidents at work;
- Increases creativity and innovation;
- Increases the sense of belonging, loyalty and commitment to the company; and,
- Improves effective communication between leaders and employees and collaboration, excellence and teamwork.
In Puerto Rico, approximately 80% of the workforce is employed by companies. These people spend much of the day at work or in activities related to it. On many occasions, they do not receive continuing education or some kind of support in matters of personal and professional growth as perhaps an entrepreneur or an entrepreneur would receive.
Investing time and money in human resources is investing in the growth of the company, not only in the short but also in the long term — is adds value to each person and that value will be reciprocal in a job well done and even in good publicity for the company. A happy employee recommends what they do and the company that offers it.
On the other hand, the fact that the company can offer an Emotional Paycheck program is not only contributing directly to its benefit, but also contributing to social welfare in general.
Requesting help from experts in the field will definitely help you to know the priorities of your employees in this area and so you can meet their specific needs in a timely manner and implement the ideal solutions for your company and achieve the desired results.
Join the group of Puerto Rican companies that inspire their teams by creating workplaces where everyone can thrive and develop their potential.