From Susan M. Heathfield,
Your Guide to Human Resources.
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Every person has different reasons for working. The reasons for working are as individual as the person. But, we all work because we obtain something that we need from work. The something we obtain from work impacts our morale and motivation and the quality of our lives. Here is the most recent thinking about what people want from work.

Work IS About the Money

Some people work for love; others work for personal fulfillment. Others like to accomplish goals and feel as if they are contributing to something larger than themselves, something important. Some people have personal missions they accomplish through meaningful work. Others truly love what they do or the clients they serve. Some like the camaraderie and interaction with customers and coworkers. Other people like to fill their time with activity. Some workers like change, challenge, and diverse problems to solve.

Whatever your personal reasons for working, the bottom line, however, is that almost everyone works for money. Whatever you call it: compensation, salary, bonuses, benefits or remuneration, money pays the bills. Money provides housing, gives children clothing and food, sends teens to college, and allows leisure activities, and eventually, retirement. To underplay the importance of money and benefits to people who work is a mistake.

Fair benefits and pay are the cornerstone of a successful company that recruits and retains committed workers. If you provide a living wage for your employees, you can then work on motivational issues. Without the fair, living wage, however, you risk losing your best people to a better-paying employer.

In fact, recent research from Watson Wyatt Worldwide in The Human Capital Edge: 21 People Management Practices Your Company Must Implement (or Avoid) to Maximize Shareholder Value, (Compare Prices) recommends that to attract the best employees, you need to pay more than your average-paying counterparts in the marketplace.

Got Money? What's Next?