In PwC Saratoga’s latest Global CEO Survey, 65% of CEO’s report that they intend to use more non-financial rewards to motivate their staff. This is an admission that the a motivation strategy full of mostly financial reward “carrots” is not enough, especially for their highly skilled and high potential employees.
We so easily forget the fact that people are looking for at least some measure of fulfillment from the time they spend on the job. “Fulfillment,” of course, can take many forms: interesting work, challenging assignments, variety, freedom to make decisions, the opportunity to serve, making a difference in the lives of others, growth and learning, developing and mastering new skills, camaraderie, and so forth.
Fulfillment is not primarily about money. Tami Simon, CEO and Founder of Sounds True, puts it eloquently:
“The scaffolding of a workplace that is defined by people leaving their souls behind and coming in in order to make something called “money” so that they can squeak out a little time where they can have soulful lives is an absurd tragedy. That scaffolding needs to be taken down and not bought into.”
What motivates your employees to contribute fully is deeper and more complex than you (and they, for that matter) realize. In conversation with each one of your staff members, probe for their motivators, the ones beyond money. Do everything you can, within the constraints of their job and the room you have to maneuver, to see that they experience fulfillment…whatever that means to them.