If organizations were to ask their employees to work for free, chances are that a high majority of them would decline the offer – some might even take offense to the offer. But is money the only thing motivating employees and is it the only factor affecting employee decision-making?

Money does bring food to the table; we all agree to that. All other intrinsic and extrinsic factors might give you internal satisfaction and joy, but that doesn’t feed your basic requirements.

We take the discussion over money’s importance further in this article and look at a few factors that can motivate employees more than just money.

A Sense of Purpose in Work

This has been written about extensively by a number of researchers and authentic professionals. People are now looking for meaning and purpose in their professional work more than ever before. In other words, humans want to be able to do something that they like instead of something that just pays bills and does not give them the internal satisfaction they require.

In fact, a recent survey by HBR found that nine out of 10 workers would be prepared to earn less if it meant doing more meaningful work.

Positive Company Culture

Company culture plays a major role in influencing an employee’s decision to stay in a workplace or change their career trajectory. Every employee wants a workplace that isn’t toxic and does not have a toxic culture. A positive culture with an emphasis on wellbeing is just what humans need.

Recognition

Employees strive to work hard. They burn the midnight oil to help achieve objectives that have been set by managers. All of these efforts can go to vain if they don’t get the recognition they require. Recognition is necessary and employees crave it.

Learning and Development

More than 94 percent of all employees in a recent survey suggested that they would stay in their current workplaces longer if there was more potential for learning and development. Ambitious employees want to acquire new skills, and there will come a time when they will prioritize this over money.

Clear Career Progression

A good salary package might just pull employees into joining an organization, but it can never force them into staying. A clear career progression path with chances for growth and eventual managerial roles is what employees crave. If they get this, they might even compromise a bit on the money they currently get.

We at JS Benefits Group have worked with numerous clients to discuss and implement factors that motivate employees other than just money. You can get in touch with JS Benefits Group immediately to discuss and devise a plan.