When money pales in comparison
21st January 2008
Money is a reason to work, but sometimes it’s completely overrated.
Imagine Joe Tith, sitting in his office. He’s sipping on a fresh cup of Starbucks from the new office latte maker, his big front teeth draped over the cup in delight.
Then, into Joe’s email inbox pops a job offer from another company.
They’re offering more money, and note the following benefits: Each office comes with its own bottomless coffee pot, courtesy of a ruddy personal assistant required to be “cheery” at all times. The company, Godiva, offers an unrelenting supply of its sweets in no-cost vending machines, for employees and their loved ones.
Joe isn’t thrilled by the Godiva offer, as he just spotted a cake on his desk with icing that reads: “From Jenny;) .”
Joe’s story illustrates a point recently made by Felicia Choy, vice president and co-founder of Choy-Valentine, a senior executive development company.
“At the end of the day, 100% of the population does not work for money,” said Ms. Choy, who is slated to moderate a panel on HR issues at China’s SME Challenge, sponsored by AmCham
-China. The event takes place Friday, January 25, at China Resources Hotel.
“People use
money as an excuse to leave a company, but if you’re happy in a workplace, I don’t think you will leave just because next door pays a few dollars more,” Ms. Choy said.
Certainly, every company isn’t a utopia of delightful benefits. Small and medium-sized enterprises have an especially hard time competing with multinationals on benefits packages.
Not to worry, Ms. Choy said. Focus on the following:
· Top management should hold the same values dear, and spread them among staffers. Being small can be an advantage in this regard.
· Create a caring environment. Ms. Choy knows one local SME that, to its credit, provides medical checkups to employees to show that it cares about them.
· Emphasize “discipline, process and infrastructure.” This is what multinationals do well, and if SMEs can replicate this, they will do well in hiring and retaining staff.
AmCham Member Matt Young, editor & publisher, bizCult.com
This is the sixth and last post in a series discussing the upcoming China’s SME Challenge event