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| Money | 55% | 611 votes | Total: 1105 votes | |
| Recognition | 45% | 494 votes |
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Add to FavoritesMotivating employees is best accomplished with money. Recognition is an effective way for an employer to show appreciation after the work is done, but money will be an ongoing motivating force each time the employee opens another paycheck.
There is a difference between employers showing appreciation and motivating employees. Recognition is a way to show employees appreciation for a job well done. There are myriad ways for an employer to give recognition and appreciation. He can make a grand gesture by giving an award at a group meeting, or he can show appreciation in a smaller gesture by having a "donut day" and providing the goodies for coffee break. However the employer chooses to display appreciation, the employees will validate his efforts and appreciate the thoughtfulness.
Motiv ation is a whole different realm of interaction. To motivate employees to continue to be enthused about their work and to increase production, money in the form of a salary increase or bonus will garner the greatest success.
Some employers fail to understand the psychology of money, and that is why their efforts to motivate in this way often fall short. Giving an across the board percentage increase to all employees is a nice gesture of appreciation, but will not serve as motivation.
Employees do not perform at the same pace, nor do they have equal levels of self-motivation. An individual wants to know that he is being rewarded for his good work and not simply getting an increase like everyone else. This way of attempting to motivate can actually have the opposite effect. It can be demoralizing to an outstanding worker to realize that no matter how much effort he puts forth, he is being compensated with an identical amount as other employees who expend less energy and enthusiasm.
When an employee is new, often he will have a 90 day review and at that time, if his work is satisfactory, he will receive a notable increase in wages. The agreement is usually set at the time of hire. It is not surprising that the employee's first 90 days are his most productive as he works toward that monetary incentive. Money oriented goals are great motivators.
To continue the momentum of the employee's enthusiasm, an employer who understands the correlation between money and motivation would set a new monetary goal for future motivational increases based on performance.
Sales managers often have the most realistic attitude about the concept of money and its relationship to motivation. They will insure their sales team receive bonuses in addition to their regular salary and commission.
If a sales manager were to announce, "At the end of this month, everyone will receive a 3% cost of living increase," he could not expect a month of extraordinary sales. On the other hand, if he were to announce, "The salesman with the highest amount of sales will receive a $500 bonus," his team sales performance would likely break records.
All employers can take the same approach to motivate their workers to higher production. Treating each individual worker as a separate entity and acknowledging his output with customized incremental salary increases based on performance will be successful motivation. Across the board cost of living increases to all, regardless of performance is a common practice in the workplace today and is seldom more than perfunctorily appreciated.
We all work better when we have a worthy goal. If an employee knows a wage increase is directly tied to his performance, and not just a byproduct of longevity, he will work hard to ensure his increase in compensation is as generous as possible.
Awards, accolades and amenities in the workplace are nice, and they do convey the employer's gratitude for a job well done, but for ongoing motivation, money will be more appreciated by most employees.
Learn more about this author, Carol Gioia.
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Recognition
Money is a very close second to recognition; but, it's still second. Studies have shown that appreciation (sincerely expressed, of course) is the most important consideration for employees. Everyone wants to know they are appreciated and valued. Being recognized for good performance is essential to showing that appreciation in the workplace.
Everything has its price, right? Everyone has a price even for their dignity and self- respect, right? Even a night with one's spouse can be purchased if the price is right; as was presented in a movie several years back entitled, "Indecent Proposal." In the film, Robert Redford's character offers a million dollars to sleep with Woody Harrelson's character's wife, played by Demi Moore. A million dollars - enough money to change their lives and, it did, alright just not the way they thought it would. As important as money is in our world, there still is a few things that money just can't buy or replace.
Even in this day and age, most have not sold out their self-respect for money - at least, not yet. Although, monetary compensation is the second most important form of appreciation, by itself, it is not enough. Not sure about that? Let me give you an example.
Let's say you had an employer that paid you as agreed, but failed to render you the recognition you deserved for your hard work. Let's take that a step further. Let's say that you performed your job well above the call of duty; so much so, that it caught the attention of your boss's boss, and so on, and your boss took all the credit for what you did so well? How would that make you feel? What if you had an insightful idea; developed and presented it; and your boss passed it on as his/hers? How would you feel? And what if the recognition your boss received resulted in him/her getting a huge pat on the back; maybe, even a bonus and promotion to boot how would you feel? Not only would you feel unappreciated, you would likely feel misused, as most in that same position would.
Even though you received a paycheck, the distaste of being unappreciated and feeling used would overshadow the money. Even if your boss threw "a little extra" in your paycheck without the recognition you deserved, you'd probably feel like you were being given "hush money" rather than appreciative compensation. Even if your boss doubled your paycheck, I dare say you would not be satisfied for long, if at all. And likewise, if you had high-paying, executive position, you wouldn't be happy if you were constantly demeaned and berated. Money doesn't buy total servitude; nor, should it - at any price.
A secure and honest employer has no trouble giving credit to whom credit is due. Integrity is a trait most employees want to see in their employer. People want to be inspired by good leadership. Expressed appreciation is a hallmark of good leadership. Hard work shows, so does true appreciation. Giving recognition is the number one way to show sincere appreciation. Bonuses, raises, promotions (added responsibility for added compensation), and other benefits (i.e. insurance, paid holidays, vacations, retirement funds, profit sharing, stock options, etc.) are nice additional ways to express the appreciation of one's work; but, they should not be offered as substitutes for recognition.
Recognit ion should be equally expressed personally and publicly, and it should be accompanied by more than just words. It should not be used a gesture disguised to increase one's responsibilities without increasing his/her compensation for the additional responsibility. A true promotion is a reward; not a punishment. Added responsibility for a "possible" future pay increase is a "carrot" an employer might use to alleviate his/her own responsibility.
True recognition is a reward in itself. It is respectfully showing appreciation by recognizing the work of another. It's powerful; it's inspiring; it's motivating. It promotes creativity and productivity better than anything else even money. (But, money needs to be recognition's close companion.) ;-)
Learn more about this author, Lane Trawick.
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