Thursday, 23 July 2015
Does money motivate?-Yes it does!
Does money motivate – yes it does.
Money motivates to get us to work. However, study after study all agree that money does not motivate when at work.
If I was to build an organisation, next door to yours and offer 20% more money to your staff for exactly the same jobs, then I would have a queue of your people wanting to work for me.
However, 12 months later, motivation in my new organisation (with everything else being the same), would not change 1 iota the motivation of your staff today, despite paying 20% more money.
To reinforce this, I am privileged to work all over the world doing what I love – running workshops. Last month, I was privileged to work in one of the top Teaching hospitals in Saudi Arabia – in Both Riyadh and Jeddah. You may-be aware, that in these multi-cultural hospitals, Saudi Nationals all got 2 months’ salary – all tax free – the majority of the staff – all immigrants to KSA did not. So, I asked the question to a mixed group of staff– were the Saudi nationals more motivated as a result of getting such a large amount of money. 100% (some 60 people) all agreed that the Saudi Nationals were not motivated – at all. No change in the motivation – at all!
All this proves that money does not motivate. So what does? Again, Science has the answer, which again is backed up by years of study.
Challenge and Mastery – wanting to get better at something
Autonomy – the ability to control your own schedule (usually within constraints)
Purpose – Does the organisation align its purpose with my values – and use my strengths?