en News Single View - WHU – Otto Beisheim School of Management
Thursday, 10. January 2013

Money is everything? Apparently, not anymore

Job starters today strive for social responsibility and autonomy instead of tangible values such as high salary or a sporty company vehicle. Large businesses like 1&1 and Volkswagen are examples of how firms can now adjust their incentive structures to this change in order to attract young talents.

This phenomenon of changing values is seen even in successful consulting agencies such as Roland Berger, where starting salary of up to 80,000 Euros are offered. According to Martin Wittig, CEO of RB, junior consultants refuse driving a company vehicle and instead use a bike. Also Magnus Graf Lambsdorff, partner of the consultancy Egon Zehnder International, confirmed that the strive for money and status is showing a tendency to decline. Instead, interesting fields of activity as well as autonomy are top priorities, whereby private life plays a more and more important role besides career.

Many companies, among those also VW, now try to adapt labor conditions and remuneration system to the shifting prioritization of employees: The car company for example has induced locking the e-mailing function of company devices after work in order to make it easier for employees to distinct clearly between working and leisure time and to avoid constant accessibility.

Most firms, according to the Financial Times, though lack corresponding half-time concepts, especially for employees in a leading position. One should neither forget that such currently developing privileges must not only be offered to job entrants, but also to existing staff. In the future, given the shortage of skilled labor, firms have to adapt themselves to the fact that also long-term employees will change their expectations concerning labor conditions, says Kathrin Menges (board member of HR at Henkel).

You can find the full article on: www.ftd.de/karriere/karriere/:smart-talents-berufseinsteiger-revolutionieren-die-wirtschaft/70115959.html