The aforementioned data indicates that enhancing employee engagement is a challenging task. Certain employment experts have observed that organizations are increasingly implementing “emotional salary” as a means of augmenting staff engagement and productivity.
anWhat, though, is a “emotional salary” exactly? And what effect is it having on the workforce?
“The emotional salary of an employee is a gauge of their sense of reward beyond their base pay,” stated Caitlin Nobes, the head of workforce research at the Toronto, Canada-based Achievers Workforce Institute.
A key component of productivity is employee morale.
Workers are more likely to perform poorly, become disengaged, and ultimately quit if they believe their efforts and labor are not appreciated, according to News.
Recognition is a crucial element of employee engagement.
“Something as simple as recognition, which is an investment in emotional salary, can shift this narrative,” News stated.
The Achievers 2024 Engagement and Retention Report states that a person’s present financial circumstances influence their top reasons for looking for a job, according to news.
“In recent years, inflation and cost-of-living increases have caused 71% of people to say they either struggle to pay their bills or must budget carefully to meet their needs,” the news stated to Business.
