Can’t Buy Me Love

You might disagree but hear me out on this. Money does not motivate employees!
In 1964 The Beatles sang – “Money Can’t Buy Me Love” and it certainly won’t buy you loyalty or team motivation.
And yet; when I’m running a Motivational Manager Seminar, some managers come back at me with statements such as:

• “My people are only interested in the money”



• “That’s why they come to work”



• “Sales people are motivated by money, that’s why we pay them commission and bonuses”



• “You try reducing their money and see what happens”

Let me say now; if you want to become a successful Motivational Manager please accept that for the majority of employees – money is not a motivator!

The psychologist Frederick Herzberg developed his ‘Two Factor’ theory in 1959 and established that money is not a motivator। However, if it’s inadequate, then it can be a de-motivating factor. In other words, it can adversely affect job performance.

If you were able to increase the salary of your employees by 5000 pounds, dollars or whatever currency you pay them in, then I’m sure they’d be really pleased and motivated to do well – but for how long? I reckon that within a couple of months that extra 5000 would be accepted as the norm with virtually no effect on motivation। And don’t think it matters if it was 10000 pounds or dollars, after a while it wouldn’t make a difference।

Yes there are people who are motivated purely by money; however, they tend to be in the minority.

The majority of employees are motivated by other factors and these are often more easily delivered than extra money. Many managers are unable to raise the salary paid to their employees as this is usually decided by company policy.

Employees can be motivated by several factors in relation to their work. Here are three things you can do:

1. Make their job more interesting by:

• Giving them more responsibility
• Giving them some of your tasks
• Asking them to train or mentor another member of your team
• Asking them to sit in occasionally on management meetings
• Giving them further training

2. Give them feedback and appreciation for what they do by:

• The occasional gift
• Time off work
• Gift vouchers
• Personal thank you letters

3. Make them feel ‘in on things’ by:

• Letting them attend meetings and conferences if they don’t already
• Letting them run a team meeting
• Listening to their opinions on how to run the team
• Listening to their feedback

I feel sure you can add several other things to these lists and put this to the test right away.