Beyond Money: Unveiling True Employee Motivation

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What Motivates Employees? (Hint: It Isn 't Money!) For years, businesses have operated under the assumption that money was the primary motivation for employees to remain with an employer, dedicate themselves to the company 's success and strive to produce exemplary work. Managers have dangled merit increases, bonuses and other financial incentives in front of their employees in the belief that the pursuit of money would result in greater productivity, reduced turnover, improved product quality, better customer service and even lower rates of absenteeism. If money is such a great motivator, why are so many companies still plagued by low productivity, high turnover, plummeting quality, disappointing customer service and high absenteeism despite …show more content…

The "SHL Workers and Good Management Study" asked respondents what inspired them to work harder. The study found that only 20 percent of the workers surveyed reported that they found motivation in money and bonuses. (2) 3. Researcher Susan David conducted a study of business units that had extremely engaged employees. When she asked the employees what was behind their outstanding engagement scores, only 4 percent mentioned pay. (3) Why Money Does Not Matter More Naturally, employees are individuals who are motivated by different things. Even the same employee can have motivations that change over time. However, for more than 70 years, Maslow 's hierarchy of needs and its revised models have been used to demonstrate what motivates people. The concept is typically illustrated as a pyramid with five to eight tiers. Only after the needs defined in the lower tiers have been met does the motivation for the next tier become relevant. (4) 1. The bottom tier represents the basic physiological needs that are required for survival. These include sleep, shelter, food, warmth, air and water. 2. The second tier represents the desire to be safe. This tier includes needs such as freedom from fear, protection from the elements, law and order, stability and

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