You probably believe that your employer should be paying you more money. If this happens, your productivity will skyrocket, and you would add more value to the company as an employee. Right? Even I thought so.
Daniel Pink seems to think differently, and he has proof. According to him, external motivators like salary and benefits may be effective for motivating people who perform simple tasks. However, they are quite ineffective for motivating knowledge workers performing creative or highly analytical tasks.
Does this mean that people should be paid crappy salaries? By no means. We all know money is important, and when salaries are beneath a certain threshold, this can become a demotivating factor. However, once this threshold is crossed, further increases in salary and benefits do little in terms of further motivating the individual. While this threshold varies from one individual to another, what’s interesting is that it is usually lower than a lot of us think.
If pay and benefits are the not the primary means for attracting and retaining high performing employees, then what is? The solution lies not in external, but internal motivators.