According to Shepell-fgi research group: Money not only isn’t everything – it isn’t the main thing when it comes to motivating employees.
How people are treated and how they view their managers have almost twice the impact on motivation and results compared to pay and benefits. Money does not appear to enhance productivity.
Rob Phillips, CEO of Shepell-fgi stated:
We all like some parts of our job more than others. But when overall engagement is low and when your staff prefer to not come in to work or aren’t performing at their full capacity, it costs the organization money – up to an average cost of $1.80 million for a company of 1,000 employees.
Employees want to have trust in senior management, be asked for their input, and have a clear say in decisions that affect their work.
Money is the employee engagement paradox: money is not a key driver of employee engagement for the employee yet it costs an organization great deals of money to have disengaged employees.
- Ensure you spend time not just money with employees. Work is as much about making sense as it is about making cents.
Photo Credit: The snail and the coin (Economy goes slow) by http://flickr.com/photos/mclau/