In the HR world, we’ve long known that while competitive pay is important, it is not enough to keep people engaged and loyal. Competitive pay may get talent through the door, but it’s rarely enough to unlock their full potential or discretionary effort.
Two concepts – Psychic Income and Organizational Citizenship Behaviour (OCB)- are increasingly coming into focus for HR leaders. They capture the essence of what makes employees not just meet expectations but exceed them.
From an organizational perspective, understanding the relationship between psychic income and OCB can be the key to building a workforce that is engaged, collaborative, and resilient – especially in an era where talent expectations are evolving rapidly.
Psychic Income refers to the non-monetary intangible rewards employees derive from their work, such as pride, purpose, recognition, belonging, and a sense of making a difference. It is the emotional pay cheque that creates fulfilment. Though it may not increase the weight of the employee’s pocket, it can keep the...
