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Motivating employees: Is money or recognition more appreciated?

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Money
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Recognition

28 of 36

by Timothy Franklin

Created on: November 18, 2008

I have been working for my current employer for about a year and I have to say that I am not satisfied with the company. I have worked for a few places where the "buddy rule" was a big part of how management ran the place, but this company pushes that to the limits. In my time with this company, I have been reprimanded and have had my decisions questioned. In all my time in the company, I have not once heard the words "thank you", well done", good job" or anything similar. Those sorts of comments are reserved for the supervisor's "chosen ones". Doesn't make me feel very good since I am not one of the favorites. Feedback is a good thing to have, both positive and negative. It reinforces the qualities a company demands from it's employees and encourages improvement in areas that are not "up to par" just yet. Annual reviews are an opportunity for employers to give feedback to their staff, in the hopes of getting improvement and giving rewards, if deserved. Increases in salary is one method of reward, as are promotions.


In my book, recognition can come in many forms and sizes. Money in and of itself is not the answer to encouraging employees to increase or improve productivity or performance. Money is a reward for the work already performed and in the manner and method said work was done in.
However, money as a form of recognition, can be an effective means of encouragement. Some companies offer stock-purchasing, profit-sharing, attendance bonuses, cost-savings bonuses, and so on. These are meant to be a way to encourage employees to perform better and/or to make suggestions and take part in the company's well-being and continued good success.
Recognition is a great tool to motivate because we all want to be noticed. We all want to feel like we are doing a good job. If we are merely getting a great paycheck but no one cares about our work, sooner or later, we are liable to not care either. Needless to say, this can lead to a dangerous situation.
Imagine an airline mechanic who is getting paid $500/hour to repair and maintain the aircraft at the airport before takeoff. He does his job day-in and day-out. Never misses a day, never late, never takes vacation, works holidays, weekends, anything. He's a very good mechanic who can take the entire plane apart, right down to the nuts and bolts and wiring, and put it back together again in perfect working order. Would you want him to work on your plane? Absolutely, who wouldn't? But what if he was all that, but did care about his work? What if it didn't matter to him since he doesn't fly anyway and his boss doesn't give too shrugs about his work? All he ever gets is complaints about something our mechanic didn't even have anything to do with. But never once does he have the boss come over and say, "You know, Joe, you're a darned good mechanic."
Sure, he's getting paid a lot of bread, but that doesn't make him happy. No one notices his work, no one hears his suggestions, no one pays him any attention. Sooner or later, he's going to feel unappreciated. Sure, they've been giving him $40/hour increases every year for the past 5 years. But that doesn't mean he's feeling appreciated or respected.
So, do you still want him as your mechanic?

Learn more about this author, Timothy Franklin.
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