The standard bearer had an important role to play in war, indicating where a military unit was so that all troops oculd rally together and move as one. A commander could easily see and order troops to move based on these colorful and vibrant flags standing out on the battlefield.
The job came with the obvious risk of being a higher priority target to take down or capture the standard. That of course means hazard pay for the one who would take on the role.
I don't know about you, but I find it quite difficult to turn down a higher paycheque.