SIX ENGAGEMENT FACTORS
Today, we will discuss 6 factors that impact employee engagement: reward, recognition, voice, choice, learning, and legacy.
We are Focusing on Remuneration Today:
There are a few reasons why employees may seek higher wages.
1. They might need more money due to personal circumstances, such as purchasing a house.
2. They might believe their contribution warrants fairer compensation, especially if they have taken on more responsibilities.
3. Lastly, some employees may have an inflated sense of self-worth and think they should be paid well above the industry standard. For example, recent graduates with no experience request a salary of $75k p.a. + super, while the standard rate is $55k.
For employers...
4. Remuneration considerations begin with organisational affordability. Not-for-profit organisations, for example, may not be able to offer competitive remuneration packages similar to those of for-profit companies.
5. Employers should offer fair pay above the industry award.
6. Lastly, it is unfair to underpay employees, which is illegal, or to have the means to pay employees more but choose to take more capital gains for the company.
