In the pay ethos is cash the only desired outcome? I do not think so.
In this "flat world" with "cloud computing" dominating our beings, we are finding out that knowledge is a key ingredient of organizational success. Thus "knowledge workers" require from more their work environments more than just a paycheck (don't misunderstand me, all us want that also - because cash is still king). "Knowledge workers" want and need "intrinsic rewards" And by the way in these tough economic times, an organization that can be creative in designing and implementing these "intrinsic" programs will save cash as well create a desirable work environment.
Thus, I get a lot of questions like - "Can you elucidate on what knowledge based organization that strive to be "world class" are providing by way of employment conditions to attract and retain "world class" talent into their organizations".
Here are some current trends:
Flexible working hours - this program provides employees the ability to spend time with their children or to schedule their commutes to avoid rush hour traffic. This provision includes the opportunity to telecommute a few days a week on a rotating basis.
Longer vacations - paid vacations are great, but so is unpaid time off. How about doing unpaid time off instead of lay-offs? A novel idea, right? Offering hard-working employees extra vacation time to visit relatives, take a cruise or take a class are all very Attractive to employees.
An attractive work environment - making the surrounding pleasant, neat and clean. Plants, posters or paintings all make the environment pleasurable and fun.
Discounts or free use of company products and services - the simple gesture of making office computers available to employees for after hour use can go a long way to make it attractive for some employees.
Sponsoring community Activities - employees like to work for companies that sponsor community activities. Youth soccer, the Little League, United Way are just some examples of this type of community support.
Recreational activities - company picnics, special occasion lunches, "attitude adjustment hours", a day at the ballpark, are all very attractive propositions to employees. These activities break up the monotony of day-to-day work, especially when employees have been putting in long hours.
Tax-free $2000 bonuses - companies are offering company-sponsored and funded savings plans to new and part-time employees who have not yet qualified for the pension plan. In some countries the tax laws allow such programs to operate.
All of these small gestures make an organization attractive and desirable to work in. Therefore, more and more start-up companies who thrive to be "world class" are introducing such programs for their employees.
In conclusion, I say that organizations that focus on these "intrinsic" rewards in conjunction with the "cash" component create an attractive and rewarding work culture.
