What Drives You? Monetary Rewards vs Genuine Appreciation
So, what drives you? I have worked in the recruitment industry for nearly 10 years, I was lucky enough to start my career in the boom time – there was money flying everywhere, we were taken out for expensive meals for meeting our targets, we had quarterly and sometimes monthly celebrations just because we could – these were fine times.
Then the downturn hit, celebrations became few and far between and the frivolous spending was cut considerably. During this time it was hard to motivate yourself, having come from material rewards to motivating yourself for the love of the job was hard. This made me think, does getting monetary rewards really make you feel appreciated or is it just a soulless cash transaction?
In a sales based role I absolutely believe there needs to be something to drive you to make those draining sales calls but this can also create a culture of “WIIFM” (What’s in it for Me) where people start to forget they are in a team environment and tend to work hard only for their own financial or material rewards.
On the other hand, I have worked for other companies where rewards are not necessarily based on cash incentives but on genuine appreciation of what you do.
At 2cloudnine we have an annual award which is kind of like the prestigious Brownlow Medal – towards the end of the year we vote for our fellow colleagues and nominate 1, 2, and 3 points with a comment as to why you are nominating that person, these nominations are then read out at our Christmas function.
This is an awesome way of getting everyone involved in the nominations and the comments are a great way of showing appreciation for the efforts that you and your colleagues have put in throughout the year – recognising that their input drives the business.
We also receive regular emails from management expressing gratitude for our hard work, for example when we hit a milestone on a project or people have put in extra hours to go above and beyond for a customer. For me, an email like the one below means a lot more to me and fosters a culture of loyalty more than a bottle of champagne every time you make a placement.
“That’s amazing. Thanks so much for the message. Given where this was at just a few days ago it is incredible to think that you and the team pulled it off. Very proud of everyone on this.”
I’m not saying remove financial rewards altogether but think about the culture you are wanting to create and maybe look at combining genuine, heartfelt appreciation for your team and colleagues with material rewards.
You might just find that you have a happier, more productive team that wants to work hard for the love of the job.