5 Things Employees Value More than Money
July 17, 2014
I interview many candidates, and one question I always ask is:
What’s your motivation for speaking with me today?
Typically, I ask this question at both the beginning and end of a call. Very rarely will I receive a response that compensation is the driving factor in a search, regardless of whether it’s a passive or active candidate.
The truth is while compensation is definitely a motivator, it’s not always top-of-mind at this point in a hiring process. Money is a great motivator, but what other benefits are candidates looking for when they’re making a decision to leave or stay at a current role?
5 Things Top Employees Value More than Money
1) Growth Opportunity
Candidates, especially those in their early and mid-level careers, want to progress and grow in their careers. Provide them with the tools, training and education they need to do so. Have open conversations about careers paths and provide high-achievers with responsibility to grow the scope of their positions.
2) Strong Leadership (And Strong Managers)
Top candidates look for a leadership team that has a vision and shares that vision with the company/team. This includes a management team with a track record of success and managers that provide continuous feedback and encouragement.
For tips on strengthening your leadership, see Mike Myatt’s post: 4 Keys to Developing a Thriving Culture of Leadership
3) Work-life-Balance
Work-life-balance is crucial to productive employees. Show your candidates that you encourage your employees to be conscious of their work-life-balance, and give them the flexibility to do so.
4) Company Culture
Company culture is built on values, relationships, attitudes, environment and behaviors. As a company grows and talent shifts, these changes can have an impact on your internal environment. Box founder Aaron Levie tweeted last year, “Company culture is the most important asset to protect and the easiest one to lose.”
Whatever your company culture may be, focus on maintaining it and making your competitive edge.
For more tips on pulling that off, read Balihoo founder Pete Gombert’s post: Why Strong Company Culture is Cultivated, Not Created
5) Challenge/Need For Change
Provide talent with the opportunity to move beyond the scope of their role. Whether it’s allowing them to work on a project that is interesting to them, or increasing their responsibilities on a permanent basis, allow your best employees to continue to challenge themselves and diversity responsibilities. Encourage innovation.
These are just five examples of motivators that move beyond compensation, and whether you are working to recruit or retain talent, it’s a good exercise to check off the items above.
Want to Hone in on What Candidates Really Want?
Download our free guide for interviewing:
//
Did we miss any driving factors of top candidates? How are you incorporating these motivators into your recruiting process?
Image by Mike Poresky