Not every company has the budget to “take money off the table” — offering salaries well above market rates. That means we need to get creative and communicate another compelling reason why people join a team: culture.

Why cash is used in hiring
Typically, companies offer high salaries for three reasons:

  1. To entice top talent to join.
  2. To retain employees and reduce turnover.
  3. To outpace the competition by offering more than they do.

If your organisation can afford it, this is a valid strategy. But salary alone rarely convinces people to stay long-term. Many candidates are willing to trade money for a workplace with an amazing culture.

In this post, I’ll share a strategy I always use — whether I work for a company that can afford high salaries or not. I call it the Cash vs. Culture Balanced Scales.

Money Alone Doesn’t Make a Great Company

It’s common for people to chase big salaries, only to leave months later. Why? Because a toxic or broken culture drives them away. Without a strong, positive culture — essentially, shared habits and behaviours — employees won’t stick around.

By nurturing a great culture, you’ll attract top talent, retain your best people, and enjoy the process along the way. Money rarely makes up for a poor work environment.

When recruiting, aim to offer competitive salaries — close to market rate or slightly above if possible. Always remember: another company can likely offer more cash. That’s when your culture becomes your competitive advantage.

The Scales: Balancing Cash and Culture

Picture a set of weighing scales. On one side: cash (salary, pension, bonuses). On the other side: all the elements that make your company amazing.

When recruiting, you want to accentuate the culture side, ideally outweighing the cash side. These elements should be strong enough to attract great candidates — people who choose your company because it’s an amazing place to work, not just a paycheque.

If any of your cultural selling points feel weak or embarrassing, that’s a red flag. Fixing them will benefit both new hires and your existing team. A great culture strengthens the business — and makes cash less of a deciding factor.

Don’t Lowball

Culture can outweigh cash, but don’t insult candidates with below-market salaries. If a role’s market rate is £50k, offer close to it. Your competitors may be offering £60k or more.

If you can’t match market rates, consider hiring someone earlier in their career. But never underestimate the importance of fair pay. A healthy cash offer combined with strong culture is unbeatable.

The Culture Side of the Scales

To strengthen the culture side, start with a simple exercise:

  1. Grab your team and a whiteboard (or virtual equivalent).
  2. On one side, list cash elements: salary, benefits, pension.
  3. On the other side, list all cultural advantages: great processes, behaviours, and ways of working.

Focus on the behaviours that create these advantages. For example, a rapid, agile delivery process exists because your team embraces collaboration, transparency, and accountability.

Some key areas to highlight:

  • Vision, Mission & Values: People want meaningful work. Clearly articulate your mission and values — what’s the “why” behind your company. Or as I often call it - your painted picture.
  • Market Potential: Are you growing, launching new markets, pre-IPO, or innovating in your industry? Growth and opportunity excite candidates.
  • Ways of Working: Fast-paced? Deliberate and methodical? Know your style and promote it.
  • Location & Office Environment: Clean, modern, and productive spaces matter — or offer flexible remote options.
  • Management Approach: Managers make or break culture. Highlight how your leaders support, coach, and develop their teams.
  • HR Initiatives: Wellbeing, engagement, diversity, and mental health programs demonstrate care for employees.
  • Technology: Effective tools enable productivity. Show how your tech supports great work.
  • Learning & Development: Talented candidates want growth. Highlight resources, training, and a culture of continuous learning.

Communicating Culture to Candidates

Once you’ve built a strong culture, make it visible:

  • Include cultural selling points in job adverts.
  • Train recruiters to communicate these elements clearly.
  • Highlight them during interviews and ensure candidates will add to, not detract from, your culture.
  • Leverage brand ambassadors to share your story on social media, conferences, and other channels.

By doing this, you’ll attract the right people, retain your top performers, and create a thriving workplace. When culture outweighs cash, your company becomes irresistible to top talent - and top talent usually have lots of options.

The Bottom Line

Salary matters, but culture wins. Focus on creating a workplace where people feel valued, inspired, and empowered. People will not only join — they’ll stay, grow, and help your business succeed.

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