Dear Colleagues,
Inasmuch as money shows up as a recurring decimal in motivation, psychoanalysts have reached a conclusion that it hardly motivates. This might sound very radical, but it is true.
The Concept of Career Anchor
Basically, they came up with the concept of a career anchor, which is the aspect of incentives that keeps an individual going as an employee. Certainly, this would differ from employee to employee.
For instance, a monthly lunch with the CEO could just be a senior manager's means of being motivated, and he ends up spending 30 years on the job. On the other hand, some employees just want a yearly vacation with all company-paid expenses for their family.
Different Motivators for Employees
To some individuals, it is just the ability to keep proving themselves on the job and being acknowledged for their breakthroughs that motivates them. For instance, a biochemist in a research institute would rather have access to enough funds to carry out research than have his salary increased and get frustrated when no funds are made available for research findings.
For some, it is the sense of security in their job that motivates them—no threat or intimidation of superiors with sack threats.
In some cases, it is just the environment—very conducive, friendly, accommodating, well-managed diversification, a problem-solving workplace, and the list can go on.
You would find out that money has little or nothing to do with virtually all listed above—most of them fall under the emotive nature of man.
Thanks.