Money Is a Top Motivator 3-1-2003

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Motivation plays a huge role in how well employees do their jobs, and nothing motivates quite like cash, according to a survey of 2,000 American workers conducted late last year by the Society of Incentive & Travel Executives Foundation.

Eighty-five percent of respondents said their level of motivation on the job has an impact on the quality and quantity of their work.

Among other findings:
• 59 percent said their companies do not do enough to motivate employees.
• The most commonly offered motivator is work-life benefits, such as telecommuting and personal time off.

The effort doesn’t always come from the boss: 78 percent of respondents said a high level of motivation from their colleagues made a positive impact on the company’s products and services.

What kind of rewards are the most meaningful? Cash bonuses came out on top, cited by 91 percent of respondents. Runners-up: special training/professional development (74 percent), stock options (65 percent) and travel (61 percent).

Among the rewards that generated the least enthusiasm: merchandise (43 percent), awards or plaques for reaching goals (42 percent), and lunch with the company president (17).

The SITE Foundation remains based in New York City, even though SITE itself recently moved its operations to Chicago.

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