There has been a lot of research done on exactly what motivates employees.

Although money can be a motivator if the work is mechanical, mindless and repetitive, for cognitive or creative work financial rewards can actually reduce performance!

What works is providing work that offers autonomy, mastery and purpose.

Here’s one of the best explanations or the research I’ve seen: Daniel Pink speaking on The Surprising Science of Motivation at TED:

It’s well worth the 18 minutes to watch if you have employees – live or virtual. Hope you enjoy it.