Money not among top 10 motivators for workers

Customer orientation, achievement, inspiration of others make top 3, finds survey
By Amanda Silliker
|Canadian HR Reporter|Last Updated: 05/06/2012

Money and other financial rewards no longer crack the top 10 employee motivators, according to a survey. Out of 23 motivators, financial reward came in 12th, found the survey of 6,000 North American employees by PsychTests.

“Money is a hygiene factor; it’s not really a motivator. If you have a decent salary and you don’t have to struggle to pay your bills and to provide, (money) loses its motivational power,” said Ilona Jerabek, president of PsychTests in Montreal. “There are many other things that trump financial reward.”

Managers may be surprised — and a bit skeptical — when they see how much weight employees place on non-financial motivators, said Chris Debienne, an HR business consultant based in Calgary.