Money Isn’t the Only Motivator for Top Talent

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Many managers worry about how to retain top talent without breaking the bank. The good news is that even with the most sought after A-players, research shows non-monetary rewards can be more appealing than high salaries.

Here are three things you can provide that often rank equal to or higher than compensation:

  • Flex time. Offer employees flexible arrangements, such as remote work options, staggered hours, or condensed workweeks.
  • Recognition. The best people want to feel appreciated for their hard work. Whether in a private email or a public venue, acknowledge your peoples’ good work.
  • A culture that values results, not face time. Set the example: Take time out during the day to go to the gym or see your child’s play, and encourage employees to do the same.

Adapted from “Attract and Keep A-Players with Nonfinancial Rewards” by Sylvia Ann Hewlett.

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