{"id":5604,"date":"2023-06-06T14:44:03","date_gmt":"2023-06-06T14:44:03","guid":{"rendered":"https:\/\/www.iese.edu\/standout\/?p=5604"},"modified":"2024-04-22T06:15:13","modified_gmt":"2024-04-22T06:15:13","slug":"emotional-salary-tips-examples-definition","status":"publish","type":"post","link":"https:\/\/www.iese.edu\/standout\/emotional-salary-tips-examples-definition\/","title":{"rendered":"Emotional salary: essential for your team\u2019s wellbeing"},"content":{"rendered":"

[vc_row css=”.vc_custom_1559140963143{margin-top: 0px !important;margin-bottom: 0px !important;padding-top: 0px !important;padding-bottom: 0px !important;}”][vc_column css=”.vc_custom_1559216895048{margin-top: 0px !important;margin-bottom: 0px !important;padding-top: 0px !important;padding-bottom: 0px !important;}”][vc_column_text]It isn\u2019t clear exactly when the term \u201cemotional salary\u201d was coined, referring to the non-economic satisfaction that work gives us<\/strong>, which has a decisive influence on your team’s wellbeing. However, it is increasingly evident that, as executives, it is extremely important to bear in mind how powerful this concept can be, both in attracting and retaining talent.<\/p>\n

What exactly is emotional salary<\/span>?<\/strong><\/h2>\n

It may be, as IESE professor Mike Rosenberg<\/a> points out, that talking about \u201cemotional salary\u201d is rather reductive, as many of us – himself included – have, at times, found ourselves clocking into an office that has a terrible atmosphere<\/strong>, even though we were looking to the future and wanted to learn.<\/p>\n

Within a company, wellbeing is like placing weights on a scale<\/strong>: on the one hand, there is the salary<\/strong>, and on the other, a complex network of intangible assets<\/strong>, with infinite connections that are entirely subjective, but which may prove decisive when it comes to accepting or rejecting a job offer.<\/p>\n

\u201cYour relationship with a company is multifaceted,\u201d emphasizes Rosenberg. He continues, \u201cThere is one critical factor, which is feeling that we belong to something greater<\/strong> than ourselves\u201d.<\/p>\n

Emotional salary<\/strong> is a such a complex concept. It is not just about what we receive or feel in a company, but also how we perceive this company<\/strong>, and whether or not we believe that \u201cbeing a part of that organization aligns with our life\u2019s purpose<\/strong>,\u201d he explains.<\/p>\n

In this respect, 96%<\/strong> of those surveyed in the Randstad Employer Brand Research report state that feeling in harmony with the values of the company is fundamental to their satisfaction<\/strong>, so much so that half the participants also maintained that they would never work for a firm that had a bad reputation, even for a higher salary.<\/p>\n

\u201cIf you want to hire the most talented people, you need to be environmentally conscious, or you won’t succeed. Sustainability<\/strong> has become an imperative<\/strong> for any type of company,\u201d points out Rosenberg.<\/p>\n

How can executives consider emotional salary?<\/strong><\/h2>\n

As emotional salary is subjective, and closely tied to emotions, the key elements that you need to consider change over time. For example, \u201cnowadays, equality of opportunity between women and men is very important. It always has been, but previously people didn\u2019t pay as much attention to it,\u201d indicates Rosenberg.[\/vc_column_text]

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