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Emotional salary: Types and examples

Compensation beyond money 

Improving quality of life, professional development, or work-life balance are some of the benefits of emotional salary, a set of non-financial rewards that contribute to boosting the well-being of workers.

Working in a large company or having a good salary have traditionally been determining factors upon pursuing a career. What is known as emotional salary not only improves the commitment or proactivity of workers, but it also has a direct impact on the health of the entire organization. How? In practice, the different types of emotional salary help the people who are part of the company to grow professionally and personally.

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What is emotional salary?

Emotional salary is a set of non-financial benefits received by employees in a work environment, which can sometimes be as important or even more important than their wages. 

Emotional salary is based on the idea of recognizing and valuing the emotions and needs of employees, while providing intangible benefits that contribute to their happiness and motivation at work. In the end, it is about building a positive work environment that promotes employee loyalty, commitment, and productivity. 

From this point of view, emotional salary can be translated into promoting practices and policies that foster a healthy work environment, as well as developing talent management strategies that go beyond economic compensation, and that consider the emotional and personal needs of employees. Non-financial incentives in the form of experiences, learning, training, etc. are a good example of emotional salary.

Examples of emotional salary

From recognizing professionalism to offering flexible working hours, to promoting work-life balance or wellness programs, there are many aspects related to emotional salary that we are increasingly seeing in companies. However, theory is all well and good, but it's easier to understand emotional salary through examples.

  1. Workplace flexibility
    The management of our time is an essential aspect for well-being and personal balance. Therefore, one of the most valued examples of emotional salary has to do precisely with the options offered by companies in this regard. From the implementation of teleworking to the possibility of reducing the work day, including the adaptation of schedules, there are many formulas to make work flexibility a benefit for workers.
  2. Professional development opportunities
    Professional training is another of the most popular types of emotional salary. The idea is to provide learning and development opportunities within the organization, which boosts employees' commitment and sense of belonging. Offering training sessions to learn or reinforce soft and hard skills – the former, referring to interpersonal and social skills that contribute to enhancing communication or leadership skills; the latter, technical skills, based on knowledge – is an effective way to convey to the team the idea that there are future career plans within the organization.
  3. Measures to promote work-life balance
    In order to be in control of our time, implementing policies aimed at work-life balance is fundamental. It's very important that there is a balance between personal and professional life. Offering meal, childcare, or transportation services, extra days off or leave for unexpected situations, as well as being able to manage household tasks from the workplace, such as going to the dry cleaner's or picking up the groceries or going to the medical service available within the company are some examples of practices that promote work-life balance.
  4. Promote wellness
    Mens sana in corpore sano. This Latin quote, one of the most repeated in history, has a practical application when talking about emotional salary. It can be as simple as including rest areas, cafeterias, gyms, etc. Although it's also worthwhile to carry out information campaigns on wellness topics (food, sports, among others) and even organize activities that promote it.
  5. Good work environment
    Fostering and promoting a sense of belonging is another plus for any company. Its translation from the point of view of emotional salary in specific examples is achieved through initiatives such as organizing team building activities, promoting equal opportunities at work, developing volunteer programs, among others. Any initiative that helps to know and share the values of the company will be welcome.

 

Benefits of emotional salary

There are many types of emotional salary that companies and organizations can choose. Each and every one of them has a positive impact that benefits employees and the organization as a whole. 

Satisfied employees thanks to emotional salary

Employee well-being and satisfaction

Emotional salary has become a key element for the well-being and satisfaction of workers. By recognizing and valuing the emotions and needs of workers, organizations promote a greater sense of belonging and commitment to the company, which in turn translates into greater motivation and productivity at work. When employees feel valued and emotionally supported, they experience a higher degree of satisfaction and enjoy a better work-life balance. This helps reduce stress and improve the mental health of workers, which results in lower absenteeism and greater retention of talent in the organization.

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Attracting talent in companies

Emotional salary also has a positive impact on society's perception of the company. In a highly competitive work environment, organizations that care about the emotional well-being of their employees stand out as desirable and attractive employers. This can attract talented and motivated professionals, who see these companies as a place where they can grow and develop both professionally and personally.

Moreover, companies that implement an emotional salary build a positive work environment and an organizational culture based on trust, collaboration, and mutual respect. This is reflected in an improved company reputation, which can attract customers, investors, and business partners.

Hands putting a puzzle together

Commitment and mutual trust

Another benefit of emotional salary is that it helps build strong and lasting relationships between employees and the organization. When employees feel that the company cares about their emotional well-being, it leads to a higher level of commitment. The result is greater talent retention, which in turn reduces the costs associated with hiring and training new employees. 

Satisfied and committed employees also become brand ambassadors as they share positive experiences with their personal and professional environment, which bolsters the company's image. 

Ultimately, emotional salary has a positive impact on people and organizations, and there are endless alternatives for putting it into practice.