Money Isn’t The Motivator We Think It Is

[Joe Marconi]

Money Isn’t The Motivator We Think It Is

By Joe Marconi, an Elite Worldwide Blog -

 

 

 

 

We often hear that most people are money-motivated. However, when it comes to employee motivation, there’s much more than just financial incentives.

According to Gallup, a management consulting company, when people are looking for employment, money may be at the top of their list of considerations, but once hired, no amount of money can motivate someone if they are not happy in their workplace. Additionally, Gallup’s study revealed that money does not create employee motivation and that there is no direct link between salary and workplace happiness.

Understanding employee motivation is crucial for any manager looking to improve productivity and maintain a happy, high-performing workforce. Without understanding what truly motivates employees, high levels of productivity and profits will not be achieved. People are motivated by different reasons. It’s the job of the manager or shop owner to build strong relationships with their employees to find out what truly motivates them. One of the best ways to find out is to simply ask them. You may be surprised by what they say.

Now with that said, let’s address when money is important. Everyone needs to cover the basic needs of life. People need to pay the rent or mortgage, put food on the table, and take care of their families. If someone worries each week that their base pay will not cover their financial needs, they will work from a position of fear. This will eventually cause them to shut down, produce less, and start to look over the fence for greener grass.

Another area when money becomes a factor is when an employee feels that they are not getting the respect they believe they deserve. For example, you hire a top-level, experienced service advisor and pay that person a higher wage than your current top-performing service advisor. No matter what arrangements you make with the new hire, your current service advisor will find out the pay wage for the new hire, and that will not go well. In some cases, this may cause your current service advisor to quit.

Aside from a few exceptions, money is not a prime motivator. In this blog, I will outline five powerful ways to motivate the people in your company, which will also help you create the right culture, ensure long-term success, and help prevent your employees from looking over the fence for greener grass.

Satisfy The Basic Needs of Life and Career

As I mentioned earlier, when an employee worries each week about not earning enough to cover his basic financial needs, he works in a state of fear. In this state, people cannot function. The stress and worry consume them. When people realize that their basic needs will be fulfilled, they become more engaged with their work, will produce more, and are more inclined to grow and advance in your company.

As a shop owner or manager, you need to sit down with your employees. Find out about their goals, both in their career and in their personal life. Another obligation for shop owners is to create pay plans that offer competitive wages, great benefits, and a career path where they feel secure with their future with you. Financial and emotional security is important, not only for the employee but for the employee’s family too.

Create a Culture of Mutual Respect

Everyone craves respect. This is an area that is lacking in so many workplaces. While employees may be at different experience levels and in different positions, everyone wants to know that what they do gets the attention and respect of leadership. As a shop owner, create an environment of shared and mutual respect. Look to those in your company who have leadership qualities and mentor them so that they can mentor others. When your employees share in their talents and efforts as a team, combined with mutual respect for one another, you have created one powerful motivator.

 

Have Your Employees Compete Against Themselves

In the workplace, employees are at many different skill levels. For example, a typical repair shop may have two technicians with over 20 years of experience and one tech with under 5 years of experience. It makes no sense to have the younger tech compete against the more experienced techs. When you do this, you create winners and losers. What you want are all winners.

Encouraging self-competition is a powerful way to enhance employee motivation by allowing them to see personal progress and achievement. If you do that, each of them can win. Measure each employee’s production, whether it’s billable hours, sales, gross profit, or other metric. Find a baseline for each employee. Establish a minimum level of acceptable performance, the goals for their position, and the individual goals for each person. Provide the training, support, and a pathway for them to improve and succeed.

When people see themselves improving, by measuring their metrics against themselves, they also see themselves winning. They become more engaged, which motivates them to work harder and want to continue to improve.

Remember, create a shop filled with winners.

 

MBWA – Management By Walking Around

 

MBWA is a strategy that was written about in a book published in the early 1980s, by Tom Peters, called In Search of Excellence. The strategy is simple but powerful. It requires that managers get out of their offices each day and spend time walking the shop floor. Engage in conversation with your employees. But here’s the key component that makes this strategy so powerful; engage in conversation that helps you to find out more about them, their hobbies, their family, and what they like to do in their time off. In other words, don’t just make the conversation about business, make it personal, about them.

When you find out what’s important to your employees, you will also find how to increase employee motivation. Imagine this scenario: Through your MBWA you find that your superstar service advisor enjoys taking her kids to dinner and a movie, and you surprise her with tickets and a gift card for the entire family for a night out.  Tell me that’s not a powerful motivator!

 

Praise and Recognition

 

Praise and recognition are perhaps the greatest motivators of all. There’s not a person on this planet who does not want to be recognized and praised for a job well done. Look for reasons to praise your employees. Let the little mistakes slide. If you want your employees to grow and improve, then praise and recognize the behavior you want to see repeated. For example, you speak to an employee about coming in late. If that employee comes in on time for the next three days, praise and recognize that! After all, it’s the behavior you are looking for, right? What happens all too often is nothing is said when the employee comes in on time for a few days but is handed a heavy reprimand when the employee once again arrives late two weeks later.  If you only point out when people don’t perform the way they should, that is what you will get; an endless occurrence of people not performing up to expectations.

There’s a phrase from the book The One Minute Manager, but Ken Blanchard, “Find people doing things right!”

 

Conclusion

At Elite, one of our core values is to never put money ahead of people. We believe true employee motivation comes from fostering a culture where individuals feel valued and respected, rather than relying solely on monetary rewards. When a company focuses on building the right culture and prioritizing employee well-being, great things happen, and success becomes inevitable.

This concept is woven into the fabric of what we preach, teach, and coach. Whether it’s our service advisor Master’s Program, our Top Shop Coaching Programs, or our Pro Service peer groups, we will never abandon what has made Elite the company it will always be… a company that will never put money ahead of people.

 

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