Earning the money we need to live is presumably the main reason we work at all.
But does money motivate us to continuously perform our best work?
Let’s take a peek at what science and research have to say about that:
1) Monetary incentives are great
They put us in a happy mood and give us something to feel good about.
The only problem is that feeling is fleeting.
When incentives are not related to advancement nor having an impact on the organization they are a temporary fix that dissipates as fast as the ink dries on the pay review letter.
2) Money does not create employee engagement
It gets the right people in the door, but it’s not necessarily what keeps us there.
Research interestingly shows no correlation between how much we are paid and how engaged we are: You can be engaged or disengaged wherever you are on the career ladder....