Pay is important, but it is only one issue – have a look at what else is really important to your employees:

1) Freedom,: autonomy and latitude breed engagement and satisfaction, however latitude also breeds innovation, so whenever possible, offer employees freedom to work the way they work best

2) Targets – yes targets are fun, competitive and add interest

3) Mission – we all like to feel part of something bigger

4) Expectations – few things are more stressful than not knowing what your boss expects from one minute to the next

5) Input – everyone wants to offer suggestions and ideas

6) Connection – employees want to work for and with people

7) Consistency – we can deal with most people as long as they treat us in the same consistent way

8) Future – every job should have the potential to lead to something more, either within or outside of your company