When A Paycheck Is Not Enough

Pay, promotion, and benefits have been the traditional carrots for hiring and retaining employees. But what happens when they are not enough? During the Great Resignation, companies have watched well-paid, decorated employees walk out the door. They have watched front-line workers who had just received raises walk. Why? The emotional needs of employees are as critical as their functional needs, says Gabi Novacek, a BCG Henderson Institute fellow researching diversity, equity, and inclusion. Feeling safe, challenged, and valued at work can be even more important as a paycheck. Novacek, an archeologist by training, also discusses how a family medical emergency shaped her thinking about what really matters at work.   

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