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Headline writers are the worst. The actual article isn't too bad. It acknowledges pay is important and it needs to be a liveable salary.
These very feelings allow companies to stand out, even if they can’t outpay all of their competitors. Of course, livable wages are critical for all individuals, but once reasonable compensation is established, emotional salary can outweigh base salary when it comes to engaging and retaining top talent. When paired with fair pay, a strong emotional salary can lead to higher job satisfaction, catalyzing a more committed employee base.
Which is kind of like a duh. If you hate your boss, think your company is ruining the world and the hours suck, then they'd have to pay a lot to retain you if you can get a job somewhere else. Whereas if you're besties with your coworkers, your boss regularly shows his appreciation for you, and your company is alright, and you aren't hurting for money then you're less likely to even be looking at what other companies are offering.
Yeah that all seems pretty common sense. The problem is the people who make the decisions about this stuff pretty much only read headlines, if they don’t get this shit fed to them second hand from some sycophant who also only read the headline. When it reaches their ears what they’ll hear is “increase pizza parties 20% and create a rewards system that lets you buy cheap plastic baubles with good boy coupons.”