Developing Leadership Abilities

The Shrinking Power of Money as a Motivator

This chapter explores professional life for leaders and managers beyond the paycheck. What makes a top performer in your company or industry? What keeps your best hands from jumping ship? What makes workers want to give their best effort to procedures and projects?

Not the paycheck alone. In fact, “throwing money at the problem” to improve performance has proven notoriously ineffective in everything from union negotiations to U. S. foreign policy. Consider two realities of work life:

• Almost all workers need more money than they receive. These needs are far from frivolous. Leaders and managers are trying to save for their children’s college expenses and their own retirement. Workers in the “sandwich ...