Fight for the "emotional salary" in Valencia: large companies suffer to retain talent

"The worker does not demand more salary from us, what he is asking of us are better conditions, he prefers to have better hours or have more free time.

Thomas Osborne
Thomas Osborne
14 February 2023 Tuesday 21:27
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Fight for the "emotional salary" in Valencia: large companies suffer to retain talent

"The worker does not demand more salary from us, what he is asking of us are better conditions, he prefers to have better hours or have more free time." It is the so-called "emotional salary" where employees now focus, for which reason human resources professionals they strive to improve the economic offer with other intangibles, since the struggle for talent is increasing and the difficulties to find it, too.This was explained yesterday by the authors of a report prepared by the Business Confederation of the Valencian Community (CEV) on Labor market trends in Valencia.

"Now they are sharpening their ingenuity to design strategies to be able to hire, there is a lot of turnover and a lot of sick leave, the companies explain to us how hard it is for them to find people and for them not to leave," Arturo Cerveró, director of Labor Relations at La Vanguardia, explains to La Vanguardia. the CEV. The study has been carried out with online surveys of human resources specialists from around thirty large Valencian companies, located both in the city and in its metropolitan area, in order to also have information on the industrial sector and not only on services and commerce.

In response, companies are giving greater internal flexibility to maintain employment such as continuous shifts, reductions in working hours and training so that the workforce can adapt to new skills and positions.

Because also, in this context, salary expectations appear among the factors that most influence the selection of personnel. The salary level and other components of the emotional salary are becoming increasingly important. "Companies are very aware that they have to focus on attracting talent and assume that they have to make changes to their salary policy," explained José Luis Carlés, senior consultant at Key Executive.

Likewise, with so much turnover and voluntary departure, the forms should be improved, the study says. For this reason, they encourage the implementation of procedures and protocols that can help manage the process of leaving the company "clearly, with dignity and respect", since the reputation of the company is at stake."Traditionally, not much care has been taken for part of companies in people management strategies and have been focused from a strictly legal point of view", criticizes the text.

The meeting also analyzed the impact of absenteeism on Valencian companies, which stands at 4.33%, in line with the state average. Of this, almost 30% is of the "illegitimate" type, which means that the worker has recovered from his pathology but has not returned to his job. These data were explained by Tobias Hauth, head of research projects at Umivale Activa, who was surprised that only 17% of companies know, in figures, how much absenteeism costs their companies. "It's amazing," he said.

The presentation of the study was opened by the president of CEV Valencia, Eva Blasco, and the councilor for Entrepreneurship and Economic Innovation of the Valencia City Council, Borja Sanjuan, who advocated strengthening technological training so as not to lose opportunities and do it jointly between the sector public and private. Blasco, in a national key, remarked that "it is necessary for Spain to put its batteries in the formation of digital profiles because, otherwise, we are going to lose employment opportunities, positions at a competitive level and this has the negative consequences that we all know ”.