Does Money Ensure Employee Engagement?

Money is not the primary motivator of employee engagement, according to a recent study sponsored by the U.K. government.  David McLeod, one of the co-authors, states that money may be what attracts someone to a company. But once s/he is there, more important is –

• How is the company treating me?
• Am I fully valued?
• Do I know where the organization is going?
• Now that I’m here, is compensation awarded fairly?
• Are my managers listening to me?
• Is someone going to coach me so I can do a better job?

Common sense, right? But, as my friend Andrea Nierenberg often says in her training sessions, “what’s common sense isn’t often common practice.” The common thread binding employee engagement efforts is communication – are the CEO and his managers communicating with employees on a regular basis? Employees can’t know where the company is going unless someone tells them. They can’t know they are valued unless someone gives them an occasional “attaboy” by way of encouragement.

What impresses me is that the government actually felt the topic was so important for the success of U.K. businesses, that it commissioned a study to learn exactly what engages employees. If you want to look for yourself, the title of the study is called, “Engaging for Success: enhancing performance through employee engagement.” Scroll to the bottom of the page when you get to the site for the PDF.  I’ll warn you that it is 157 pages long, but it is there for the reading.

Also included in this post is an interview BNET conducted with David McLeod in which he discusses the survey findings. Very interesting.

Related posts:

1. Make More Money Through Employee Engagement
2. White Castle Boss Goes Undercover and Learns Employee Engagement Works
3. Only Consistent CEO Communication Can Drive Employee Engagement
4. 11 Tips to Improve Employee Motivation, Employee Satisfaction & Employee Retention
5. Employee Social Media Communities Not Top Priority for Companies