Majority of professionals believe that employees are likely to over-report the importance of pay in employee surveys. However, research suggests the opposite is actually true.
The human brain can be influenced by money, but we have no precise sensory organ for the most intricate calculations.
Money motivates the employees, somehow as if everyone gets the same treatment, it no longer explains the difference between the participants. If the employee is financially interested, then he might become the job-maniac.
The effervescent worker who is more focused and hardworking than others and has been treated equally as other workers then this type of treatment must be the greatest blow to his vanity and despite of his abnegation, he will stop doing work devotedly.
Employees want their devotion and contribution to be recognized.
“Employees can be motivated by money as well as by simply saying thank you. This treatment seems to be very powerful. Praise employees whenever catch the employees while doing something right.”
Frederick Herzberg, clinical psychologist and pioneer of ‘job enrichment’, discussed the ambiguity of the salary issue, and according to him, money is not a motivator.
“Pay will do little to motivate performance in systems where people receive similar pay increases regardless of individual or firm performance”.
Most Nongovernment employees are ostensibly paid on the basis of merit, examination of most companies’ pay reveals little differentiation in raises between average and superior performers.
Jurgensen ranked pay fifth in importance for men, and seventh in importance to women.
Conclusion
For most of the people, there are more sustaining motivators than money. Surveys show that pay actually came fifth in the reasons people gave for leaving their jobs.
Hira 