Please note! This essay has been submitted by a student.
This article is about a study by MetLife that claims there are far more important things than money that motivate people to work. This is backed up with findings of a study showing that nine out of ten people claiming they would prefer to have a job with comparable values than a better pay.
Employees would waive 21% of their wages if, accordingly, the values of the company coincide with their own. Jon Richter, vice president of corporate citizenship for MetLife, notes that work reflects an increasing part of their identity, as work and life merge more and more. It is very important to most people that they have the certainty that the company cares about their well-being and the community. Surprisingly, the millennials would renounce the most reward (34%) if the company shared the same views. Millennials in particular identify with their job and the values of the company, they want to make a positive difference in the world.
Shared values are also reflected in the profitability of companies, three-quarters show a higher satisfaction and more loyalty to the company. This is resulting in higher productivity and commitment to the company. I think another aspect organisation should take into consideration is the standard of living. If the standard of living increase, it is more likely society and the individual will the business in a positive manner. Furthermore, salaries, commissions, and other benefits of the same kind actually show employees what their level of performance is and how much they are valued and recognized by their employer. In this way, one can ascribe to material incentives as an indirect motivating effect. But employees will value their work and have a good work ethic if they value the job itself and money is not the most important driver for working. In conjunction with a healthy corporate culture, common sense, personal development opportunities and decentralization of decision-making, monetary incentives certainly have a reinforcing effect.
So, in the end it is ultimately about values and beliefs of the individuals and how to manage them right. We define that values are beliefs that incline us to act or choose in one way rather than another. That is why it is crucial for organizations to understand the importance of these actualities, to handle it properly and use it for their advantage. That in the end the individual is satisfied to work and committed to stay.