Employees need more than money to be happyat workplace
According to the Maslow’s Hierarchy of Needs, at a certain stage of human development the basic physiological needs – food, water, sleep, clothings, are the compelling needs. As individuals develop, they begin to desire higher needs, such as:
- Physical, emotional and financial security
- Social needs – love, intimacy, family, group affiliation
- Esteem needs – the need for recognition, status, importance and respect from others
- The peak of all, Self-actualization needs – the desire to reach one’s full potential, self-fulfillment.
While money can be a motivational factor and contribute in attaining the above, money does not make anyone a better employee. In fact those who run after money end up mourning. At a point, people begin to seek higher level of needs. In the workplace, sustainable satisfiers or motivators such as recognition, intrinsic value of the work, sense of achievement, advancement/growth should be involved in relating with employees.
The following are dissatisfiers and demotivators: company policy that ignores worker’s needs, poor supervision, poor working conditions, job security and many more
Financial incentives are not generally powerful motivational tools. People want challenging jobs that bring a sense of achievement, responsibility, growth, advancement, enjoyment of work itself and recognition.