As well as to earn money, we work to be productive, and to see those efforts yield results. It's no wonder that higher pay and recognition were almost split down the middle when employees were asked about the most important rewards at work.
It's alarming that 97.7% of employers are looking into salary levels to make sure they're giving people what they should earn. To attract the best people, you need to ensure that you can afford them.
After five years, perhaps even the first year - have you thought about offering them a rise to give them what they deserve? If not, you could lose them, (especially if alike jobs in their industry are much higher paid).
Money aside, I feel we all crave a little attention to be valued for what we've done. I believe it's no different at work, if not more so.
Therefore, while salaries may be defined at the beginning of their career, both this and feedback can help you keep hold of your top talent. And, a workplace with great retention is attractive to new employees too.
When asked which rewards are most important to employees, more than half (53 percent) said higher basic pay, followed by a wider range of benefits (37.1 percent), but being recognised for the work they do was also cited as an employee priority by 56.1 percent of respondents).