Every year, Cpl produces a Salary Survey as a guide for both companies and employees. The idea is to give you a baseline from which to assess your own package or that of your employees compared to others in the same role. The guide also offers some insight into salary trends in Ireland and this year the news is good.
We expect salaries to rise cautiously over the next 12 months in line with the Irish marketplace’s continued growth which is good news for companies and employees alike.
The “Interesting” factor versus the salary factor
However, studies have shown that for employees to be motivated, factors like working conditions and job security are just as important as salary. So while the salary guide is a useful tool… it is also true that money is not the only factor that affects how you feel at work.
I read recently that how creative an employee feels when working on a project is one of the strongest and most pervasive drivers. Rewards that are strictly monetary will stifle the creativity of a project and an employee’s unique approach because pure monetary gain takes the “interesting factor” out of a job.
Maslow and salary
One of the most popular models of motivation is Maslow’s Hierarchy of Needs. The basic idea of Maslow’s model was that there are five levels of needs for humans and each level needed to be fulfilled before someone could be motivated by higher level factors.
This chart is saying that you wouldn’t be able to motivate someone with positive feedback (an esteem factor) if their basic physiological needs aren’t met. The same applies in the workplace. If someone doesn’t get paid enough to put food on the table for his or her family, he or she isn’t going to care too much about job recognition!
The power of measurement
Many people think that the most powerful workplace motivator is our natural tendency to measure our own performance against the performance of others. Apparently most salespeople will actually give up the chance to make extra money if doing so will garner positive recognition from their peers.
Nowadays, in the age of social networking, employees are more likely than ever to share salary information with each other. Employers need to keep this fact in mind when designing compensation plans. Our salary survey is great tool to provide guidance to IT professionals, both employers and employees when considering a job offer.
Money will always be a factor, but it isn’t the only thing that matters – and it can be hard to pinpoint which other factors might come first. When you look at new roles, is money the only thing that matters to you?? Let us know your biggest motivator.