After reviewing research into how money motivates professionals, marketing firm A. Innova has exclusively revealed why they believe people need more than financial incentives to reach success.
A. Innova is always on the lookout for useful forms of motivation for their contractors. Often is believed that money is a crucial factor when determining motivational power.
However, with research indicating shifts in the different factors that are impacting motivation levels.
Tim Judge and colleagues have conducted compelling research that combines 92 qualitative studies with over 15,000 subjects and 115 correlation coefficients.
The report indicates that there is less than 2% overlap between pay and job satisfaction levels. Furthermore, the relationship between pay and pay satisfaction was only marginally higher (4.8%), indicating that people’s satisfaction with their salary is mostly independent of their actual salary.
Instead, a confounding element of motivation was engagement with the job as a significant motivating factor.
A person’s ability to source a working environment that matches intrinsic values was considered a ground-breaking factor.
Gallup completed research on 1.4 million employees, from 192 businesses, considering 49 sectors and 34 countries. The researchers found that job satisfaction levels were similar between control groups offering high salary brackets and lower salary, indicating the lack of influence of pay on overall motivating forces.
A. Innova is confident that firms looking to establish a motivating workplace should consider how they are improving employee engagement levels. Of course, financial reimbursement is necessary as individuals move towards a more senior role.
As careers develop, it is vital that purpose matches the direction of the project to ensure that when obstacles arise strength can be found through determination.