By Saholy Rabetsitonta

Introduction

At the outset, salaries have always been the main driver for attracting top profiles. Today,
this equation has become more complex because of budgetary pressure combined with employees’ growing expectations
in other aspects of work, prompting CEOs to break with old patterns.

Many countries and continents are proof of this: Switzerland, France, the United States and Asia. At a time when
talent is redefining its priorities, companies must reinvent themselves to attract the most
qualified profiles. Recruiting without offering a salary above market rate thus becomes a strategic art rather
than a constraint.

But how can they attract people without relying on salary in the face of a less dynamic and
unstable global environment (inflationary pressures, an uncertain labor market confirmed by forecasts of
layoffs across all sectors in Switzerland in particular, an unstable geopolitical context
impacting financial markets and consequently recruitment activity)?

I – Why is this salary strategy increasingly being implemented by CEOs?

While global economic decision-makers closely monitor macroeconomic signals
(low inflation in Switzerland, moderate growth in the eurozone, relative stability in the United States and
strong momentum in Asia), it is becoming increasingly clear that overpaying is a poor calculation for
employers who want to endure over time. Why?

Faced with a less dynamic global environment and moderate inflationary pressures, CEOs are reinventing their approach to attract the best talent without offering record salaries (KOF).
Geopolitical upheavals, inflationary tensions and the growth of digitalization
(Artificial Intelligence) are leading companies to be creative.

• Switzerland is showing very weak growth in 2026 (around 0.9%) with low inflation (Seco), although it is banking on moderate GDP growth of 1.1% in 2026, below historical levels, before rising to 1.7% in 2027. Moderate growth does not justify excessive wage costs (IMF), combined with controlled inflation that reduces the pressure to compensate through salary increases (snb.ch). On the other hand, the unemployment rate is rising slightly (3.2% in January 2026).

• In France, GDP contracted to weaker growth in Q4 2025 (+0.2% quarter-on-quarter) after annual growth of around +1.2% in 2025. Inflation has picked up moderately, forecast at around 1% in February 2026.

• The United States remains the world’s largest economy (nominal GDP estimated at around $31.8 billion
  in 2026). Growth should remain positive and higher than that of many advanced economies,
  with inflation moving closer to the Federal Reserve’s target by 2027, estimated at 2% (IMF). The
  American labor market is relatively strong, combined with high productivity. Added to this
  are high deficits and rising public debt, which weigh on medium-term fiscal stability.

• China and other Asian economies remain major engines of global growth
  (Chinese growth around 4.4% – 4.9% in 2026). Like India, with favorable demographics and
  ongoing industrialization and technological investment policies, economic dynamism
  is beyond dispute.

In fact, international competitiveness requires prudent cost management. Asia shows that
growth and attractiveness can go hand in hand with wage policies aligned with productivity
(adb.org). Tariffs and trade tensions persist: U.S. tariffs remain high,
creating uncertainty in Europe, Asia and North America, which weighs on investment and
international growth.

However, Switzerland, the United States and Asia remain concrete examples in terms of attractive factors
that appeal to candidates beyond salary. Talent is redefining its priorities, but what
are they?

II – What are these attractive factors that draw the best candidates beyond a high salary?

In the past, the financial argument could melt resistance like snow in the sun. Today,
a true range of professional appeal is essential for CEOs to capture
the attention of an exceptional candidate.

Companies are exploring several areas such as :

• The work atmosphere: a top criterion and not a free snack at the office.
• Flexibility and work-life balance: the art of being king and free.
• Skills development: when one does not just want to work but to progress.
• Candidates now seek clear career paths with training and stimulating projects promising long-term professional growth
  
• Employer brand and reputation: A strategic asset, it is an essential lever. A
  company perceived as innovative, socially responsible or offering an attractive work
  dynamics can generate strong interest even if the salary is no longer competitive while
  remaining reasonable.
  
• Inclusion and meaning: the discreet but essential charm.
• Job security.

Depending on the continent and country, the factors of attractiveness beyond salary are numerous at the
macroeconomic level for attracting top talent:

• In Switzerland: High quality of life (public services, safety, health and environment),
  favorable taxation for companies and highly qualified talent, multilingualism and excellent
  strategic geographic location in Europe.
  
• In France: Quality of infrastructure (health, education and transport) – a deciding factor for
  companies and skilled workers, social protection and quality of life (strong social coverage
  and attractive public service systems). The French labor market is diverse but
  rigid: employment protection, active integration policies but difficulties for SMEs to
  recruit easily.
  
• In the United States: Technological innovation and concentration of clusters (Silicon Valley, Boston…),
  access to capital and cutting-edge business ecosystems, mobility and diversity of the labor
  market.
  
• In Asia (India, China and Asia-Pacific): lower production costs, robust economic
  infrastructure for the technology and manufacturing sectors as well as a rapidly developing
  entrepreneurial climate, particularly in Southeast Asia.

In this world where growth is advancing cautiously, overpaying is no longer a sign of strength but often a strategic weakness, not to be confused with “underpaying,” which is a sign of malice that prompts candidates to choose another company representing more ethics and kindness.

Conclusion

In the knowledge economy and with scarce candidates, those who are highly qualified are looking for a
coherent set of factors: a pleasant work environment, meaning, clear prospects, flexibility and an authentic corporate culture. In other words, if a company wants to attract the
best, CEOs must offer more than a number on a payslip with a salary in line with the
market: it must provide a professional experience worth living and talking about.
After all, as an unfoolable candidate would say, “you can always increase my salary… but
who will increase my happiness?”

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