Education and Personal DevelopmentSocietal Impact

Balance cash with other benefits

By 17/11/2016 August 21st, 2019 No Comments
Balance cash with other benefits

When hiring it’s rare to be able to offer so much money that salary is not an issue. Few companies can do this.

If you’re not working in one of these companies, then the reality is most of your competition can offer the same money, if not a tempting shade more.

Q : So how do you get good people to join you and not someone else?

A : You balance the cash/benefits against the other super compelling elements of your business.

I look at it like a set of balance scales. On one side is the salary and benefits.

On the other side are all the other amazing reasons why someone should join your company:

  • Vision, mission and values
  • Market potential
  • Methodologies of work
  • Office location
  • Management approach
  • Learning and Development opportunities
  • Flexible working
  • And more

If you don’t have much on the culture side of the scaleā€¦..well, you need to start improving the culture of your business, or looking deeper at the good stuff that likely does happen.

In my experience, people are more motivated by the culture of the business, the vision and values and the personal growth open to them, than just a good salary.

Your job is to create compelling reasons for people to join your team and then deliver on these expectations.