Retaining talent is key to achieving good results in our company.. One of the options to keep the best employees is a salary increase to reward them for their good work., but this is not always possible. In the following lines you will discover some alternatives to a pay rise, which guarantee the same result.
Wage increases are often expressed as a percentage of an employee's total basic salary. A wage increase generally represents a percentage increase in the amount of money the employee receives per year.
Employers use salary increases to recognise the efforts of the talent on the payroll. Employees use it to to ascertain its value within the organisation, and can use them as a reference point to negotiate a promotion with the company.
However, it is not so common, a wage increase can be a one-off payment in lieu of a bonus.
Employees who receive annual salary increases generally receive a percentage increase. This percentage is added to the employee's existing base salary and, as a result, each month sees the employee's salary increase slightly.
Employers may agree to grant wage increases to existing employees for university degrees and other types of educational credits. The employee earns additional educational qualifications or credits and, as a reward for improving their skills and staying with the company, the employer increases their salary by an incremental percentage.
It is important for employees to feel valued in their companies, especially when they do a good job. However, it is important for employees to feel valued in their companies, especially when they are doing a good job., In some cases, companies do not always have the capacity to reward them with a wage increase, So we must look for alternatives to do so.
We give you 3 ways to recognise the work of your employees and provide that extra motivation that will help you keep your best workers in the company:
You may choose to write a personal thank you note detailing not only their achievements, but also highlighting how they were achieved. In this way you will show that you not only value their numbers, but also their methods.
Another way to recognise their good work is a change in their job titles. Career development is important for employees who value self-fulfilment in their work. This name change should not be linked to a change in responsibilities, as this should be linked to a change in pay.
Finally, give them an extra day off as a reward on those occasions when a very ambitious success is achieved.
In addition to explicit recognition of the employee's good work, companies can demonstrate confidence in their employees by offering them greater autonomy and control over their work. This freedom of movement is always very welcome as it allows them to manage their tasks themselves.
In addition to recognition and trust, employees demand flexibility in their jobs. This flexibility can be in terms of working hours, working space and remuneration. In this way, employees will be able to reconcile their professional and personal lives, something that is increasingly in demand in society.
Remember that, in addition to salary or a salary increase, recognition, confidence, trust, trust, trust in the professional projection and flexibility are other key factors that employees value when it comes to staying with a company.
