Pay -- Price of Admission
"In today's tight labor market, competitive pay is the price of admission for employers - it is not a key differentiator," says Rick Beal, a senior compensation consultant at Watson Wyatt and co-author of the study. "Our research consistently shows that intangible factors such as personal satisfaction and recognition of contributions are more effective in driving high performance."
What Motivates Top Employees?
|Motivations Percentage Responding "Very Significant"
|Desire to maintain good work reputation
|Importance of the work
|Appreciation of others
|Personal desire to please supervisor
|Expectation of financial reward
"It's important to keep in mind that top-performing employees are typically well paid, so we're not saying that pay doesn't matter," says Beal. "Our message to employers is not to underrate the importance of non-financial rewards in influencing behavior."
HESDA, MD. - Eighty-one percent of top-performing employees - as identified by their employers - say maintaining a good personal reputation motivates them to achieve peak performance, according to a recent Watson Wyatt survey of 551 large employers and over 500 employees. Only 15 percent say expectation of financial reward is a very significant influence on performance.