Is money the key to retention and productivity? It helps, says the Christian Science Monitor's Marilyn Gardner, but it's not enough. Beyond pay and benefits lie eight key factors that influence "happiness" at work-factors that motivate workers and keep them at your organization. Here's our distillation of
Praise heads the list for many workers, and it doesn't cost the employer anything to provide it, says
Again there is no cost and a big payback. Respect plays out in letting people know that their work is appreciated, in treating them like adults, and in being fair in your dealings with them.
Trust is the action side of respect. People need guidance, but they need to know that their boss trusts them to be able to get a job done on their own.
4. Individual Growth
Today's workers-especially the Gen Y group-want training, want to take on new challenges, and want to advance based on their new abilities. Giving a raise without increasing responsibilities could actually backfire, notes
5. Good Boss
It's the old saw: People don't leave companies, they leave bosses. In a recent Robert Half survey,
6. Compatible Co-workers
Working with people you enjoy is also very important, says
7. Compatible Culture
Employees want a work environment that fits their needs. That could mean hard-driving, high paying, or it could mean high flexibility and significant attention to work/life balance.
8. A Sense of Purpose
People want to know that they are contributing to something worthwhile. They need to know what the organization's core purpose is and what it is trying to achieve. And then they need to know how their particular job fits into the whole.
One of the interesting things that
Managers tend to think that salary and benefits are the main motivators, while workers consistently respond that factors such as those mentioned above are what's important. Successful organizations will find a good balance to retain their best people.