Is the role of money an important motivator?
Initially, one might think that the higher the salary, the more efficient the employee,
but this is not necessarily true.
The proof that the relationship between money, motivation and efficiency is much more complex is a fact.
Certainly, the salary alone is not enough.
If we really want our employees to be happy and more productive, cash rewards are not the only way.
Money does not buy loyalty
Each employee’s motivation is the result of external and internal incentives.
The external is what we receive from others and the internal is what we derive from ourselves.
There is a natural “conflict” between external and internal motives.
Monetary rewards, sometimes high and sometimes low, can sometimes result in oppression
our inner goals, such as creativity, curiosity, learning, personal challenges, etc.
When an external motivation reduces a person’s internal motivation to perform a task,
then we have the phenomenon of “over-justification”.
Research has shown that when someone has a monetary reward for a job they undertake, in the future
will have less internal motivation to do the job better.
For example, it is very often observed that when we set goals or bonuses for people who
otherwise enjoying their work, suddenly we see them relaxing their efforts.
According to another survey, the loyalty of employees who were strongly internally motivated
(career development, training, motivation, motivation, productive evaluation, participation in decisions, etc.) was three times higher
than those who had only external incentives (salary, bonus, etc.).
That is why it is very important to look for employees’ internal motivation and offer them corresponding opportunities.
and challenges, based mainly on these and not only on rewards, so that there is motivation.
Internal motivation is one of the strongest factors for employee performance.
Money is not a long-term incentive
Of course, no one should offer their work for free.
We all need money for our survival and the maintenance of our families.
But once our basic needs have been met, everyone’s relationship with money
is purely subjective and idiosyncratic.
Everyone evaluates them differently.
It can mean power, strength, freedom, love, security, etc.
So every leader has to understand what each employee values as most important,
to provide him with the appropriate incentives.
If there are high salaries and bonuses, then these are part of the employees’ expectations for the future.
Providing competitive salaries and bonuses is essential!
But on their own, they won’t keep employees longer in your salon.
Research has shown that personal development is something that is an important quest for employees.
Most people, especially the youngest, are eager to progress through education and want opportunities
to develop new skills.
How can we ensure that our employees are satisfied and motivated?
So we know that, yes, money may be an incentive, but it will not be the one
the incentive that will lead to long-term productivity.
It is the internal motivation of employees that we need to make sure is met and one of the most important is the following:
We all need to feel that our work is appreciated!
In conclusion, money is a condition and part of the motivation, but employees are more loyal and more productive,
when leaders listen to them, understand their inner motivations, evaluate and praise them,
help them to develop, and especially when they develop a trusting relationship based on assessment,
in guidance and interaction.
For more information on staff motivation a visit to our website is sufficient: www.jenniekamaradou.com.
