Go back

Rewarding: not just money counts

31 May 2022 Ellen Roelants Employers

Rewarding and compensating your employees: how exactly do you do that? Recent research by Ghent University reveals that offering telecommuting lessens the appetite for a pay raise. Rewarding doesn't actually have to consist solely of "money," as Acerta' s survey of more than 2,000 employees proves. We provide you with tips for an improved and motivating pay policy.

Reading time: Read later?

Benefits are welcome

One-third of employees like to bulk up their pay checks by benefits being awarded. Non-statutory holidays (58%), pension savings (41%) and the company car (41%) are coveted benefits in particular. A clear signal that it's not just money that counts.

Figure 1: Top-five benefits desired by employees who want a pay raise through benefits being awarded

The basis of your pay policy

The same Acerta survey found that 34% of employees do not believe their employer's pay policies are motivating. Not entirely surprising, given neither do 45% of Belgian workers know the criteria by which their employer sets wages. Transparent communication will be crucial in a first step toward a motivating pay policy. In addition, it is also important that pay policies feel fair and reasonable. This makes a proper HR structure with job classifications essential.

Choices boost autonomy

As a company, you can respond to the individual needs of your employees by providing choices in your pay policy. You can build in that freedom of choice, such as through a cafeteria plan. By allowing your employees to make choices, you increase their autonomy, and that in itself has a motivating effect.

In addition to the "autonomy" pillar, there are also the "commitment" and "competence" pillars that contribute to motivated and happy employees. For instance, collective bonuses are perceived as motivating by 53% of employees and 28% would like to see willingness to learn as a determining factor in their compensation.

Hybrid working is here to stay

Nearly nine in ten (87%) of workers are won over to the hybrid work model: a combination of working from home and working in an office. Employers also favour hybrid work, according to an earlier panel survey by Acerta. This makes offering home working an asset not to be underestimated, and one that you can also use as an alternative form of storage, according to the UGent study mentioned above. There is still work to be done, however, as more than half of companies do not have a home working policy in place, which also prevents them from fully embracing the benefits of a hybrid work organisation. Time for action!

Start with hybrid working

Hybrid working is the form of work combining the best of both worlds. However, how do you tackle this as an organisation?

Contact us

Share this post

EllenRoelants_ellips_auteur

Written by Ellen Roelants

Senior Consultant

Related articles

Retaining staff is greatest challenge for SMEs
Employers

Retaining staff is greatest challenge for SMEs

30 September 2022 Annelies Baelus

What are SMEs' greatest HR challenges today? Acerta, ETION and VKW Limburg asked 500 Belgian SMEs. What turns out to be the case? Not attracting but retaining employees is number one on the list of hr challenges for the second half of 2022. How do SMEs plan to keep their employees committed to their organisation? You can read about it in this blog.

Read more
Higher home-working allowance possible from 1 June 2022
Employers

Higher home-working allowance possible from 1 June 2022

01 June 2022 Ellen Van Grunderbeek

Electricity costs have gone up sharply in recent months. This means the maximum amount for a home-working allowance will also be raised as of 1 June 2022.

Read more
Half of twenty-somethings considering career switch
Employers

Half of twenty-somethings considering career switch

10 May 2022 Magda Duerinckx

One in three workers wants to change career direction. Twenty-somethings in particular are considering a job in another sector, according to a survey of more than 2,000 working Belgians. Why? What they want is to experience greater meaningfulness, a better work-life balance and/or good pay.

Read more