Money Is Not a Motivator

OK - I know I'm a little late to this conversation. I've read through the posts and have decided that I'm sticking to my initial opinion. Gini, when you're right, you're right. And this time, you're right.

Here's the deal folks - I've been in positions where I've made silly stupid $. Sure $ are great. My ability to gather those little green pieces of paper and round pieces of metal enable me to do some nice things for my family and friends. However, I left a few very lucrative positions for exactly the reasons, Gini, that you provided in your post.

In fact, throughout 2009 and 2010 I was hell bent on NEVER EVER EVER EVER (get the drift?) going back to work for someone else. I was done with being an employee. I have an extremely entrepreneurial work style. I'd done a few successful start-ups in the past, got bored and moved on. However this time I was bound and determined to create something and stick with it. And that .... well ... sort of happened.

In 2009 I founded Topical Content, initially a complete copywriting services firm. And, because things change, which, admittedly, I instigate more than 95% of the time, in a short two years it's evolved into an service that's exclusively focused on ghost writing projects.

So, here I sit, owner of a ghost writing firm, and now, once again, an employee working for someone else (CL Graphics - an extremely cool, fun, awesome marketing cross-media company). So... Me, the guy who instigates change, had to eat my NEVER EVER words. Fortunately that meal was served on an exquisite platter.

It's all because my relationship with money changed over the past few years. In 2008 I decided that activities that bring my financial abundance must bring me joy and through me, joy to others.

Sound like a bunch of cheesy foo foo hokey crap?

Well, everything I've been doing since I made that decision does exactly what I listed. So, another of my truths (other blog conversation reference) is: When you do what you love, it shows and financial abundance finds me. Hot damn life is good!

Whatever happened to 10% inspiration, 90% perspiration? A company where all ideas are given a shot is a company without vision. An employee leaving a company like Google because their ideas don't fly seriously needs to learn the art of influence and making ideas stick. It's not about your ideas as much as working hard to promote the right environment and relationships to nest those ideas. High innovation companies can lead their employees to "idea fatigue"... It's the perception that everything can fly that is wrong, not so much the fact that it's hard to make everything fly. And please, have you noticed the innovation cycles at Facebook? Seriously? They don't even have a "Facebook Lab" and take 6-8 months for a significant feature roll-out.

I would strongly question whether money is not a motive. After all, since the recent climb of Google shares and all the options employees have been granted, any time is a right time to cash out and move to a new challenge. Why not? It IS about the money, especially if they're moving to Facebook, who WILL soon consider IPO and is about to become the biggest ad network in the universe...

Bottom line, no one can stand doing work they don't like. But some unfortunately have to. When you are lucky enough to have the choice, you can trade money for challenge or "love of the game". But unless you tell me you'd do it for free and forever, I won't believe you don't do your job for money.

Whatever the case may be, I'd bet half these people wouldn't leave if they were simply able to realize they should be grateful for what they have. They're healthy, alive, working for Google and getting a 10% raise. But that's a different story, for another day.

After reading some of the comments here, it may be true that some are leaving Google for the shot at get-rich-IPO potential. If you combine that with the chance to do work you love, it's a total win-win. But in the long run, if it's only about the money, that money will come in handy for therapy after you start fantasizing about driving into bridge abuttments. A few years ago, after taking a few months off to care for a loved one, I was offered some slightly insane money to do work that sounded exciting, far-reaching and creative. A few weeks into it, we found out it was more like your "watching paint dry in a warehouse". My partner couldn't take it. I lasted a little longer, because I'm strong like that (haha). But I walked away with renewed conviction and clarity about the kind of work I want to do, and who I will and won't work with. And that, as the MasterCard commercial says, is priceless.

I see this more and more at my current "day job". People are being tread upon and their ideas squashed while people see bad management tactics being employed and employees blamed for upper level mistakes. Is it any wonder that people leave in droves? I don't think so.

There's an interesting gap between where someone will stay because of the money and what's unbearable, but once companies understand it's about the individuals working and their employee experience both the workforce and the quality of work will improve.

At least that's that I think.

Silicon Valley is traveling at hyper speed and it doesn't take too long for the talented ones to get fed up with the slow-moving environment of a massive company. The potential to change the world and make millions - or billions - is incredible, but only the fastest of the fast are rewarded. I hope the shift from large-scale companies like Google to smaller, "more nimble" ones, as @ginidietrich put it, like Facebook continues and spawns may new exciting startups (which will most likely be acquired by Google - the circle of life in Silicon Valley).

I one hundred percent agree.

Great post. I took my last job simply for the money and I was beyond miserable. I always said I wouldn't do that and then when I did, I proved myself right (and, like you, I like to be right).

I am not motivated by money. I recently took an initial 50% pay cut to take a position I love. I am motivated by recognition, being part of a time, and believing I am helping. With that said, some people are motivated by money. I worked for an S corp. owned and managed by someone who was money motivated. I tried to teach this person not everyone was money motivated, not everyone thought as he did. If he wanted to motivate his team he must take the time to learn what motivated members then make that possible. For me to assume others are motivated by recognition because I am as narrow minded as believing others are motivated by money because he was. The point is to learn what motivates and make it available whether it is money, free time, flex scheduling, benefits, working from home, being part of a team etc.
Expecting a raise or bonus to inspire and improve, without understanding how your team is motivated is probably wasted money. Money is often not a motivator. Managers are frequently surprised when added financial incentives [bonuses etc.] do not motivate team members to put forth more effort or determination. Money may limit de-motivation, but is often not THE motivator.

This is such a big, meaty subject and I've seen it from so many angles. I do think there are certain *types* who are motivated by money, but I agree with you on the overall take here. I also believe that some people who start with a small company that grows to that big and unwieldy stage NEED to leave. They are not the right people for the NEW company. I tend to work with companies making that shift from small, entrepreneurial, hip places to work to bigger, more structured organizations. This shift is a critical point and one that Google will continue to have to face. It's an interesting tactic to see if you can generate some more loyalty with an across-the-board raise. I bet there are some employees who will postpone the job search a little longer because of this - and that might be enough to maintain enough consistency, launch a new product, etc. I also think there are employees who are not yet there who will be willing to step in and help Google grow even more.
Change is hard. When a company changes, the people sometimes need to, as well. I would encourage Google to think about who they need NEXT.

Love this post. It really reminds me of Tony Hsieh's book 'Delivering Happiness'. It's completely true, money is not everything. It's something, and it can be used to "show" someone that their hard work is appreciated but regardless it is not what makes you happy in the workplace or life. If you are not doing what you love and you don't feel like you are making a difference...then my question is, why are you wasting the little time in life you have for a paycheck? To me, sacrificing my dreams, goals and happiness isn't worth any material possession.

Even though it's more fun to try to prove you wrong, I'm with you on this because I have experienced it first hand both as a business owner and as an employee of a company. Money is nice and more money to do the same job is even nicer, but in the end, it alone will not always keep one motivated. Depending on where you are in life, different motivation factors come into play. I think you said it in one of you replies, but sometimes, when we're young, money is the first motivator, but as we get older, our priorities and perspectives change and are shaped by prior experiences. Money, often times, moves down the list of motivators. The nice thing, though, and this has already been mentioned, too, is that when we use don't use money as a primary motivator, it often finds us anyway, especially if we love what we do and have passion and talent for doing that thing.

I've heard many of the practice makes perfect and perfect practice makes perfect mantras through the years, but one valuable lesson my youth football coach said to me after a busted play went horribly bad is to understand that when a play breaks down and the quarterback (biz leader) has to improvise, remember that not everyone knows the play has broken down so they are still doing what they were instructed to do. If you improvise too far outside of that plan, it can be disasterous, however, if you can improvise while understanding where the rest of your team might be, or with an opportunity to communicate the improvisation to the team (not easy to do after the ball is snapped, but could work in the business environment), that is when you can turn a broken play into a big win. Sometimes, you can go it completely alone and still come out fine, but knowing what your team is thinking and where they are already blocking gives you a better chance.

Alos, saves you from going to sideline and having your coach grab you by the facemask and scream, "Vandever, what the hell were you thinking?!"

I hate to be cynical here, but I seem to remember reading that employess were leaving Google in droves because of the lure of the almighty dollar--companies which haven't had an IPO, like FB, offer big cash and the possibility of an even bigger payout through an IPO or purchase, a la Groupon. Google is having many employees poached by these companies and is taking defensive action.

I'm sure that some emplyees are leaving becasue of ideas and ideals, but my guess is more are leaving for the $.

Gini,
I've lived in the culture of growing up the corporate ladder and going for the almighty dollar. I walked away from some great opportunities in the last several years and took the plunge into leading my own team. The support and mentoring I love as a business owner/leaders comes from my network. I have found, (now far beyond my 30's) that happiness and being a part of something that helps others is so rewarding.
There's a great book by John Ortberg called "It all goes back in the box." Worth the read, it's so true.
As for me and my company, I'll continue trying to make a difference. At the end of the day, I'd rather be happy doing what I do then unhappy doing what other people think I should be doing!

My son's football coach says "Practice makes permanent makes perfect" but I like your "Perfect practice" mantra more! It's a long way up, but I think I'm on the right ladder - and I'm having a great time learning and connecting. Money - who needs it!
Actually you have a point about shoes and wine...
Thanks for sharing again.
Helen

I agree money isn't the main motivator but I would like to sit in that warehouse for 7 days and watch the paint dry - I could take PTO to do it and it would bring about $9,000 to be bored to death! Seriously good post - I've done the big agency thing and much prefer being at Arment Dietrich where the CEO asks my opinoin! One of the many perks of the job!

Gini, thanks for another great post.

I think this holds true over a certain threshold, although I'm not sure everyone has the luxury of being able to choose a creative, inspiring job over one that pays the bills.

If a company was paying me poorly and I knew they could afford it, I'd be inclined to leave because I wasn't valued by the company, rather than because the money was poor.

Annie

I won't be saying anything new but agree with you. Money isn't a motivator. I left a company for a bigger paycheck and was back at the old company 11 months later.

In my latest move, I left said "old company" for a brighter future that would allow me to grow professionally, learn a lot, have a flexible schedule (and not have to be in the office at 4:30am) so I can take my kids to school 4 days a week. Not to mention my commute got a ton better. Definitely the right move but money was not the main motivator...it was part of it but not the main reason.

Great post Gini!