Many businesses use money to motivate employees. Is money a good motivator? What alternatives could a business use to motivate its people?

Many people think that cash incentives are an unfair means of motivating employees. Others adore the straightforward, functional, sensible gift of cash for work well done. I feel that while there are a few circumstances where cash is the best reward for additional work, there are different times it is unseemly.

In the past, when people did not have much money they were anxious to work and to get major compensation. Today, on the other hand, a great many people are generously compensated and satisfied in their employments, and it is difficult to rouse them by just offering money.

“Money is a motivator mainly for jobs that do not require much thinking. For jobs that require thinking, money is important only up to a point, and beyond that, the most important motivators are Autonomy, Mastery and Purpose”

– Sridhar Vembu”

https://sridharvembulifeandwork.wordpress.com/2012/09/11/money-is-a-motivator-mainly-for-jobs-that-do-not-require-much-thinking-sridhar-vembu/

There are different ways of motivating people like listening to them thoughtfully, understanding their needs, encouraging new skills learning and support new ideas etc. Many associations has find that by using these different alternatives, they were successful in motivating their people. Moreover it has enhanced benefits and productivity.