"People do work for money - but they work even more for meaning in their lives. In fact, they work to have fun. Companies that ignore this fact are essentially bribing their employees and will pay the price in a lack of loyalty and commitment." - Jeffrey Pfeffer, "Six Dangerous Myths About Pay," Harvard Business Review
We've known for decades that money doesn't motivate most people to higher levels of performance. In his seminal 1959 book, The Motivation to Work, Frederick Herzberg identified money as a "hygiene factor." If we feel we're not fairly compensated, lack of money can de-motivate. But once we feel we're treated fairly, the promise of more money doesn't sustain higher energy and mobilize inspired performance.
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We've known for decades that money doesn't motivate most people to higher levels of performance. In his seminal 1959 book, The Motivation to Work, Frederick Herzberg identified money as a "hygiene factor." If we feel we're not fairly compensated, lack of money can de-motivate. But once we feel we're treated fairly, the promise of more money doesn't sustain higher energy and mobilize inspired performance.
Read Full Article
