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As anyone who has heard me speak about motivation knows, I make it clear that, once one has basic security and food on their table, money is off the table as a primary motivator.
Culture typically motivates more than money. As a matter of fact, I've known many, many people over the years who chose jobs that pay less because they either like the job itself, the dynamic of that particular workplace or the people they work for and with.
If that's the case, then a strange thing has happened on the American business landscape this past year: the economy has gotten much better, but people aren't feeling more confident.
The unemployment rate has worked its way below 6% (5.9% to be exact) and the bulk of companies are making money again and yet the American people by-and-large still feel sluggish, uninspired, insecure.
What gives?
The reason to analysts is clear: People aren't getting raises.
True.
Many companies have not yet shared their recovery with their people. Wages have not come back generally, and, with a few exceptions, companies are still stingy with raises. Indeed, average employee earnings have not increased in six years.
And the employees don't get it.
Neither do I.
But, hold on here, this begs the question: If money is not a primary motivator when people have jobs and basic security, then why would people be demotivated when they don't get raises?
I'm glad you asked.
Remember, a person knowing they are appreciated is also one of our highest human motivators. This appreciation doesn't have to be expressed in money. Pats on the back work well. Small gestures can mean big things.
That's especially true when there isn't the means to give raises. In this last brutal economic downturn, employees understood that there simply wasn't money to pass around.
They bit the bullet and trudged on.
But now that it's over, and the means is there to restart raises, they expect it. And when the raises don't happen they don't feel appreciated.
Make all the wonderful speeches you want, tell people how much you care, but remember that appreciation must be expressed in word and deed.
If that pat on the back doesn't have behind it generosity of spirit, then it becomes a meaningless drumbeat.
That pat on the back will feel more like a stab in the back and your credibility as a leader will be lowered exponentially.
If you're unwilling as a business leader to share a proportionate amount of your profits with your people you can tell them all day how grateful you are for their efforts, but they won't buy it.
Nor should they.
And that lack of real appreciation leads to depressed motivation.
You see, though money is not a primary motivator, integrity is.
Pay your people.
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