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Why candidates aren’t necessarily motivated by money

Written by Guest Author | October 8, 2014 | 0 Comments
money-pigWhenever you engage a recruitment agency in Leeds for your next hiring campaign, it goes without saying that you’ll want to put together the most competitive package. After all, you have plenty of rivals for the top talent. But are you placing too much emphasis on monetary reward?
It might seem odd or unbelievable to suggest that candidates are not motivated by money, but it’s frequently very true. You might look over your own work history, and remember roles that were more about acquiring certain skills, experiences or networking opportunities than money.
Your current dream candidate could be in the same position. But how can you give them what they want?

Money isn’t always the name of the game 

It might seem logical, if you want to foster creativity in your workplace, to introduce a scheme that financially rewards it. However, many observers – such as innovation thought leader Dan Pink – have identified that cognitive employees need to be motivated and rewarded in a slightly different way.
What authorities like Pink have realised is that in sectors like traditional manufacturing, where the work is based on repetitive tasks, monetary rewards work just fine.
However, in a knowledge-based field – one that requires cognition – such programs don’t work so well. In fact, they may cause a lot of damage.

What actually does work, then? 

Pink has identified three effective rewards when you’re hunting for those more cognitive candidates. They are…
  • Autonomy. Knowledge workers appreciate being able to make independent decisions. They have a greater sense of ownership and investment over a project if they are given a lot of freedom in their approach to it, their development of ideas and the organisation of their workflow.
  • Purpose. There may be no more important factor than this. In short, cognitive employees want to feel like they are making a real difference. It makes them feel more emotionally connected to their work and their stake in the project.
  • Mastery. Such staffers also want to feel supported and able to grow, and you can give them this sense by giving them the opportunity to master a talent or skill. Education and development should therefore be a key emphasis for you. The expanded skill set that results from this helps the employer as much as the employee.
It’s clear, then, that many candidates aren’t going to deliver better results for your firm if you just throw money at them, even if that’s enough to get them through the door. They need to feel truly engaged if they are to be creative and innovative, and this should be at the forefront of your thoughts the next time you use a leading recruitment agency in Leeds like Webrecruit.

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