What emotional pay means and why it is so important to identify it in your workplace

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That the vast majority of people work for money is a reality, but that doesn’t mean that financial retribution is the only thing they earn.

You also get numerous emotional elements that can be positive or negative depending on your work experience, i.e., you get an emotional salary, as published by BBC World.

The emotional salary is all those components that help you grow professionally, but also personally thanks to your job.

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“It’s not fixed, it can change over time, and you are a very important agent to actively manage your emotional wage and claim what you lack, but the leaders at the head of the companies also have a brutal importance,” explains Marisa Elizundia, HR expert and creator of the Emotional Salary Barometer (ESB) to the BBC.

The Madrid-based IMF Business School has established that emotional pay comprises aspects such as recognition, training plans, flexible working hours, distraction plans within the company, days off, or social benefits.

These emotional earnings will influence both your decisions at work, as well as the way in which you relate to others and your habitual behavior.

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However, it is important for you to keep in mind that emotional pay will never compensate for insufficient financial retribution, as getting a fair salary is indispensable.

“At the end of the day, if companies want to retain their best talent, they must give them the right economic retribution,” adds Marisa Elizundia. “The emotional salary is something that adds up to the economic salary.”

The key is to know what your emotional salary is to achieve greater job satisfaction and get up every morning with a clear purpose.

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For this reason, Elizundia has established the 10 key factors to measure the emotional salary after a long research in numerous countries.

  1. Autonomy
  2. Belonging
  3. Creativity
  4. Career projection: your medium and long term perspective
  5. Enjoyment
  6. Mastery: you become better at your job with each passing day
  7. Inspiration
  8. Personal growth
  9. Professional growth
  10. Sense of purpose

To find out your own emotional salary, select from this list the factors that are most important to you and compare them to those of your company. Then look back and see how your company puts them into practice, i.e. whether they are a reality.

Elizundia hopes that this term will be consolidated and will be able to create a new labor paradigm that will change society’s perspective on work.

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