Everybody is familiar with the line from the movie "Jerry Maguire," the one that goes "Show me the money!"
Well if a recent research report from a Canadian provider of psychological assessment products and services to human resource personnel is to be believed, money might not be the end all/be all to get your sales staff going.
After assessing over 1,000 different people from all walks of life about what keeps them motivated at work, PsychTests' latest research reveals that a financial reward didn't even crack the top 10 of their 23 work motivators.
The top five motivators were: customer orientation (desire to make customers happy); achievement (desire to work in a goal-oriented and challenging work environment); inspiration (desire to inspire others through one's work); identity and purpose (desire to work in a company/field that is in line with one's values and ethics); and fun and enjoyment (desire to work in a position/corporate culture that is inherently entertaining). Compensation took the 12th spot.
Ilona Jerabek, president of PsychTests, said, "When managers think of motivation and incentives, many of them automatically assume it has to be a bonus or some other financial reward.
"This is clearly not what employees need based on our research—at least not money alone. Our advice is pretty straightforward: Ask your employees what they need from you to thrive in their position.
"A lot of managers may be surprised to learn that most employees get a motivational boost from simple things like regular verbal praise, opportunities to learn new skills, or more independence and decision-making power. These are incentives that not only boost morale, but also benefit the company in the long run."
She said another important finding from the study is that just 18% of employees believe their employers are motivating them effectively. "People aren't getting the motivation they need from the company they work hard for, and this can lead to disenchantment, dissatisfaction, and in turn, lower productivity."
The lesson here is that managers need to have a dialogue with their sales staff and find what motivates each individual. As Jerabek notes, the one-size fits all theory of employee motivation must be dropped for a new more, individual focused model.
