The cliché of an absent parent throwing money at their children to make up for not being around is very common. The presents and the cash might have provided a short-term thrill but that would be short lived in the absence of genuine love or quality time. Most kids (and adults) would exchange all the money for the relationship.
Put this idea into play in today’s employment market and many managers no longer have an option to throw money at key people in their business in order to retain them and keep them motivated. Budgets have been cut or taken away altogether. Indeed redundancies are happening all around, promotion pathways have dried up and the people staying are looking over their shoulder and saying “is it me next?” Survivor syndrome is an issue, as well as people feeling they should jump ship before they pushed.
Many coaching conversations are focusing on the question of “How do I keep my people motivated without the money option?”. But money was never really the answer, any more than it was for the absent parent. It’s the job, the ability to do good work, to grow, to be stretched, to work with inspiring people, to have the autonomy to make decisions and be trusted. All those things are still available, maybe even more now. It’s an ill wind that blows no one any good. People leaving do create opportunities for those staying to play at a higher level.
One recent conversation that was relayed to me was between a manager and a director, after a good 1:1 conversation. The manager says, “I just wanted to know that the company was as invested in me, as I am in the company.” My question to the director was “Is it the company they want to be invested in them, or is it you?”. “It’s me” they answered. Of course it is. Companies ultimately are businesses that operate on commercial principles. Executives provide the human connection and the personal investment and belief that most of us need to keep going irrespective of what pay rises we are or aren’t getting