Job satisfaction is valued most

Your employees want and deserve a fair wage. But money is not the only motivating factor for them. In fact, more and more studies show that money is not the most important factor for most workers. Employees want interesting, challenging work...and they want appreciation and recognition far more than they want more money.

Example: A George Mason University study had employees rank 10 job rewards in order of importance. The results showed the top five as:

(1) Interesting work.

(2) Management's appreciation of work well done.

(3) Feeling well-informed.

(4) Job security.

(5) Good wages.

Example: A study done by the American Productivity and Quality Center in Houston asked managers to list their top motivating factors. The leading motivators were:

(1) Challenging work.

(2) Input on important matters.

(3) Recognition for a job well done.

(4) Getting pay commensurate with performance.

Example: A poll done by Gannett News Service sought answers on what workers value most. The results:

(1) Job satisfaction.

(2) Security.

(3) Money.

These findings indicate that workers want to feel needed and appreciated...and they want to be recognized for a job well done. Pay for work has always been a bartering contract. Your employees barter their service in exchange for perceived value. Currency alone is meaningless. The value the employee places on the money gives it meaning.

Employees today are looking more and more toward services as a reward for their work. They place increased value on such fringe benefits as health insurance, personal time off, parental leave and child care.

What all of this means to you: Your employees want to feel that their work, their attitude and their ideas are important to you.

Pay raises are important to them (of course) but they are more meaningful if they are perceived as recognition of the workers' value to the business or organization.

Consider other motivating factors in addition to money. For example:

Q. Which would you rather have...$1,000 in lottery tickets or $1,000 in cash?

Q. Or, who would rather have $1,000 in diamonds instead of $1,000 in cash?

Q. How about a $1,000 FREE vacation trip to the location of your choice, as opposed to $1,000 in Cash?

Q. Finally, would you prefer to be given a $1,000 shopping spree at the mall or store of your choice, or would you want $1,000 in cash?

What to do: Present these hypothetical questions to your employees. You could do it informally at a staff meeting. Before you do, write down what you think their answers will be.

How many would take the cash? How many would find more value in the alternatives? Compare their responses with your predictions...and you'll learn something about your employees' values.

You can then take what you learned and apply it to your system of rewarding your workers.

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