Money really does motivate workers. So why the belief that money is irrelevant?
By Peter Rebhahn
Penny-pinching bosses would like to believe that financial incentives don’t motivate staffs and research has supported their claims. But one study confirms what employees have known all along: money matters.
Nina Gupta, Ph.D., professor of business administration at the University of Arkansas, analyzed 39 studies conducted over four decades and found that cash motivates workers whether their jobs are exciting or mundane, in labs and real-world settings alike.
So why the belief among some corporate consultants that money is irrelevant? “It’s a myth,” she says. Among the other fictions the study destroys: The beliefs that financial incentives are punitive, make workers lazy and lead to diminished quality. Read More
