Only one in ten employees sees financial compensation as the be-all and end-all of their job. While money is—aside from rare exceptions—an important factor, it is not the top priority for most. Among the most important aspects of a good job are overall satisfaction at work and positive workplace relationships. This comes from the Employee Barometer by Up Česká republika, based on responses from more than 1,000 employees of Czech companies and organizations.
NDespite the long-term decline in real wages and rising living costs, the vast majority of employees are not motivated by money alone. Across all active age groups, only about one in ten employees focuses solely on the financial side of their job. Among university-educated employees, for example, money is the only factor for just 3% of respondents.
“Of course, the amount on a payslip is particularly important nowadays, but it’s not everything. The fact is, pay rises are quickly forgotten. Once employees receive a raise, only a few still remember it after three or four months,” says Stéphane Nicoletti, CEO of Up Česká republika, which is involved in rewarding 300,000 employees in the Czech Republic.
Surprisingly, not even in a single current generation of employees is financial compensation ranked first. This holds true for new entrants from Generation Z, and even more so for older, experienced generations on the labor market. In fact, around 60% of employees primarily value other aspects of their jobs over the number on their payslip.
“More and more, we see that a good salary alone doesn’t make a great job. Especially in today’s tight labor market, it’s crucial to balance pay with other forms of rewards, such as employee benefits. Beyond boosting purchasing power, benefits also enhance the employer’s image and, if chosen wisely, positively impact overall employee satisfaction,” Nicoletti adds.
The real treasure: satisfaction
Overall job satisfaction is more important than money for the majority of employees. According to the Employee Barometer results, it matters to more than 70%. For 6 in 10 employees, good workplace relationships are key, and nearly half consider a sense of purpose in their work essential.
“All these areas are directly influenced by employer decisions and actions. For example, workplace communication and social ties can be supported and strengthened relatively easily—through internal communication channels, gamification, or company events. Today, we implement a wide range of tools and modules in companies for this purpose,” explains Nicoletti.
Other significant factors highlighted by the Barometer include feeling recognized and cared for by the employer, having a quality work environment, and opportunities to develop new skills. These aspects strongly shape an employer’s reputation in the labor market, depending entirely on how a company or organization approaches them.“Well-targeted investments in employee care not only increase engagement, loyalty, and overall commitment, but also allow employees to enjoy things they otherwise wouldn’t permit themselves—whether it’s self-education, quality meals, or better holidays,” Nicoletti concludes.
