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All work deserves pay, as the adage goes. But remuneration is not everything, at least when it is considered solely from a financial point of view. This is why the notion of “emotional salary” is gaining ground in management literature.
This formula refers to the non-monetary compensation that employees benefit from. For good reason, money is far from being the only source of satisfaction for employees. They attach more and more importance to having a job in which they feel useful, and which allows them to maintain a balance between their professional and personal lives. As proof, 52% of the 16,086 workers surveyed as part of the Ford Trends 2024 report say that they would be ready to see their salary drop by 20% if it allowed them to slow down at work.
Looking for enriching professional experiences
Across the world, working people are starting to question the relationship between the hours they spend in the office and the time they have left for their private lives. They are looking for rewarding professional experiences, both financially and personally. They want to be valued and seen as individuals, not just cogs in the company machine.
The notion of “emotional salary” reflects the evolution of priorities and expectations of working people. It encompasses themes such as consideration, valuation and corporate culture. So many subjects that make a job much more than just a “livelihood”.
Because, contrary to popular belief, employees are not mercenaries ready to resign for a few handfuls of euros. Only 23% of the 3,800 employees surveyed as part of the 2024 edition of the Achievers Workforce Institute’s “Engagement and Retention” report say they are ready to stay in a job where they do not feel “supported, pampered or valued”, but which offers them a salary 30% higher than the average.
Good atmosphere at work, an essential element
Companies therefore have every interest in thinking more about the issue of emotional salary to maintain the involvement, and therefore loyalty, of their employees. They must encourage their desire to get involved in their professional missions, encourage their progress, establish a healthy working atmosphere… In short, ensure their quality of life at work.
But it would be naive to believe that emotional wages can replace those measured in euros. Money continues to contribute to professional happiness, even if it is not everything. Many workers measure their value at work through the prism of remuneration, which is quite simplistic. Employers must ensure that they feel valued on a daily basis, by providing them with regular feedback and complimenting them on their accomplishments. This is how they will generate their support to make them, ultimately, more efficient.