The workplace conversation lately has turned to the topic of money.
Prior to the Great Recession, if you would have asked me about the subject of money, I would have said that money isn’t a primary motivator. And I still believe that money isn’t.
But I do think employees have done without for a while now. Maybe too long. They tightened their belts when the company asked them to and now it’s time to catch up. So money is an issue. But not every organization has the money to spare. At the same time that companies were asking employees to give up pay increases and benefits, they were also holding off making capital investments. Those capital investments, like equipment and technology, allow the business to grow and produce more profit. In the meantime, employees still want pay increases.
Today’s infographic from Glassdoor shares some information about alternatives to the pay increase. Want to do something for employees but don’t have enough for pay increases? Check this out (click to enlarge):
Rusty Rueff, Glassdoor’s career and workplace expert says the key to offering perks is personalization. “When one size fits all doesn’t work, then personalizing for different employees can be a real advantage. The more information you have about your employees, the better decisions you can make to keep them satisfied in their jobs. Overall, the Glassdoor data indicates that more PTO, career opportunities and flexible work hours are among what employees desire most when they can’t receive a pay raise.”
If you’re interested in reading more, you can check out the full Glassdoor survey results here.