Social Compensation

Social values means something different to everyone, just like sustainability means something different to everyone, but it is clear pure capitalism (money) is not enough for the next generation. Capitalism alone is not enough without values, and today's workforce wants its companies to have values it can identify with. Maslow would call this "Enlightenment". My mother would call it common sense. On March 25,I posted a prediction a while back that we would move from the "environmental movement" to the "Sustainability movement" to "Corporate Social Responsibility". The trends are apparent. I stand by my prediction.

‘What’s the Social Compensation Package?’ 5 Ways to Attract Talent Without the Checkbook
Saturday, 29 August 2009

Employee compensation packages are dropping in financial value—but this time, it’s not because of the recession alone. From MBAs to college graduates, potential employees are looking for more than stock options and dental care from their employers. In “Saving the World at Work” Tim Sanders calls this “Social Compensation—the purpose that comes with the paycheck.”

He posits that social compensation will top financial benefits as workplace incentives within the next 18 months. While I think this reversal will take a good bit longer, there is a documented shift in what employees seek from work. Without evoking Maslow or spending time on studies* and numbers substantiating what I feel many readers of this post know to be true, let’s dive into what type of social compensation packages you can use to reel in top talent.

*97% of nearly 1,000 graduating MBAs from the top-ten schools said they were willing to forgo financial benefits (up to a 14% decrease) to work for an organization with strong corporate social responsibility programs and values. (Stanford Graduate School of Business, David Montgomery and Catherine Ramus).

MORE http://www.chloregy.org/opinion/labor-a-workplace/61028-whats-the-social-compensation-package-5-ways-to-attract-talent-without-the-checkbook