The Hay Group, a global HR management consulting firm, recently surveyed 500,000 employees from 300 companies to assess the satisfaction levels of “committed” employees — those who said they would stay with their company for at least five years compared to those who would leave after one year. They discovered that of the fifty influencing factors, pay was ranked the lowest.

There is little doubt that in many industry sectors salary plays a significant role in attracting quality job candidates. However, what many of us really seek is validation for our work. “Show me my contribution matters to the organization” rather than “show me the money” is the underlying message that employers should focus on.

But how does a company demonstrate validation? Some things for consideration are;

1. Offer interesting and varied work assignments
2. Have a clear growth path and incorporate on-going training & development
3. Provide tasks and projects that stimulate interest and give people the tools, processes and support needed to thrive and succeed, while being challenged
4. Formally and informally acknowledge your employees’ contribution to you and your organization
5. Actively solicit on-going feedback
6. Express genuine and specific appreciation for a job well done in a timely manner

Let me know if you have some success stories you would like to share.

Cheers!