Work better, not more. It seems that this formula, simple to say, but complex to implement, could pull us out of the crisis. But what does this have to do with pay systems?
In fact, a lot. Productivity and motivation must go hand in hand, human resources experts reiterate. But times are not ripe for pay rises.
Adding a few hundred extra euros to any payslip would be a good incentive to encourage employees to improve their performance at work, rather than simply clinging to their jobs. Although this measure is not within the reach of all organisations, and even less so in the current climate.
Yes, it's true that there are exceptions. Microsoft has announced that it's increasing its employees' salaries so they don't leave for Facebook or Google, as reported by The Register. Not all companies can say the same. Already in 2009, Hay Group warned in a study that, as a whole, 36% of organisations worldwide have implemented or were considering implementing pay freezes among their employees.
The Spanish payroll: are our remuneration systems motivating?
Today, Spanish workers earn an average of €22,000 per year., 59% less than the EU average, according to Michael Page. The figure is unconvincing and 57% of Spanish employees say they are unhappy with their salary and hours, according to a survey by the Adecco Foundation.
For their part, companies are not in a position to give any more, it is complicated in a time of economic instability; unthinkable in some cases, especially in certain sectors that the coronavirus crisis has brought to the brink.
So many business leaders are asking themselves, “How can we boost staff engagement without adding zeroes to their paycheques?”.
The people in charge of the human resources team try to find solutions that motivate while respecting wages. Improving working conditions or opting for flexible remuneration systems are some of them.
Everything can compensate: advantages of opting for flexible remuneration systems
La Flexible remuneration In times of crisis, she becomes the girl everyone wants to dance with, and her use has doubled in Spanish companies. How does the sector-specialised blog define her? Remuneration, “it's not about paying the employee more, but about paying them better”, so that each professional decides what portion they wish to receive in monetary form and what portion in products or services.
But what are the advantages of making such a decision? Unlike other remuneration systems, this compensation policy model allows for an increase of up to 30%% in workers' net salary, thanks to the tax advantages derived from the exemption from income tax for products such as Ticket Restaurant, Nursery Ticket the medical insurance. The company distinguishes itself as an employer and many of the tools used directly or indirectly support work-life balance policies.
That said, a flexible remuneration system cannot be implemented just any old how. It is necessary to ensure employees value the measures, adapting them to their needs, and communicating them effectively. Compensation cannot lose sight of the company's objectives, its values or long-term sustainability.
In the face of such demands, there is no need to tremble, as the allies in retaining the The best can be anywhere: good weather, flexible hours, trainingThe key is to find the right fit for everyone. As entrepreneur Carlos Delgado states, “Classic remuneration is dead, long live total compensation!”.
Had you considered adopting other remuneration systems? Do you know what your staff think about flexible remuneration??
