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Cash is undoubtedly king. But in the interest of attracting and keeping the best and brightest, there are a number of non-monetary incentives in play.

If you want to attract talent to your organisation, it’s worth addressing some key questions in your job ad. Can you identify the ways you can offer flexibility? Can you promote your business’s purpose in a way that people can connect with? Can you highlight that the role is one with opportunities for challenge, or that shows your diversity and inclusion credentials?

If your focus is on your existing employees, check in with your team to see what resonates with them, then look for ways to incorporate or amplify these aspects. Can you provide opportunities for learning? Can you foster a sense of belonging by accomplishments or allow space for opinions?

In these times when balancing the budget is challenging to say the least, here are some top tips to get buy-in without making the finance department tear their hair out:

10 things that motivate employees (aside from cash)

  1. Purpose 
    Knowing that your work is helping other individuals and society.­­
     
  2. Flexibility 
    Having choice over when, where and how you perform your work.
     
  3. Wellbeing 
    Look after your team’s mental, physical and emotional health.
     
  4. Equality 
    Create an environment where everyone on the team is valued equally.
     
  5. Empowerment 
    Have a strategy that allows your team to work and give input independently.
     
  6. Learning 
    Having opportunities to constantly develop and be challenged through experience.
     
  7. Democracy
    A team environment where everyone has a say, not just those at the top.
     
  8. Choice 
    The freedom to determine what you work on, when and how you do it.
     
  9. Challenge 
    Having the opportunity to work on and grow through challenging tasks.
     
  10. Belonging
    Inspire your team to feel included and part of a greater goal and purpose.

Parts of this article were first published on the Seek website.