Is pay packet alone adequate to retain and attract competent employee?

Answer 1

Study after study has shown that salary is not enough to attract and retain the type of employee that businesses want. Factors besides salary that attract competent employees are 1. Working conditions 2. Health plans 3. Moral and ethical work 4. Interesting and challenging work-(feeling that your job means something to the overall success of the company). Factors that help retain good employees besides salary are 1. flexibility within their job assignment, 2. continual access to training 3. open doors to their managers 4. visible route for advancement 5. recognition from above (considered one of the most important) 6. flexible work hours

Google "Work Life Balance". I just wrote a paper on this for grad school. Paychecks don't mean very much anymore...it is all the extras...healthy work environments, flex schedules, telecommuting, innovation, inclusion, growth, room for advancement, recognition.