This evidence can also be found in the current largest age group in the workforce. In a workplace study conducted by the Government of Canada in 2014, the most dominating, and surprising data was from the 35 to 54 age group. This demographic dominated in the two main fields:
- Paid workers who are actively looking for a new job.
- Paid workers who are not looking for a new job.
When comparing the average wage of these two sections, within this age group, those who were actively seeking a new job actually had a higher average wage than those who were not looking for employment (see Figure 2). To summarize, despite popular belief, there is sound evidence that most people in the workforce today, are not primarily motivated by money.
In the book, The Entrepreneur Rollercoaster, author Darren Hardy mentions five main categories employees focus on. If applied correctly, they can give a company’s new hires and current employees the best opportunity to stay and thrive. They include:
- People—who would they be working with? The most powerful attribute in hiring great people is that they will attract more great people to the company. Simply put, great people want to work with great people.
- Challenge—will the job challenge them in a way where they can excel and they do not have to check their brain at the door? The book also includes an insightful quote from actor, Hugh Jackman, in which he states: “Quality talent is attracted to the extraordinary challenge that’s presented. Don’t just dangle the prospect of a good job; tempt them with the prospect of quality work. There’s a difference, and it will dictate the talent you attract.” That said, give people tasks that challenge their intellect and forces them to develop new solutions. Great people love challenges.
- Opportunity—are there opportunities for advancement? Are there opportunities to grow different departments? Are there new opportunities, within the company, that an employee can undertake? Are there opportunities for employees to excel at and be rewarded for? Are there any opportunities, outside of the company, employees are interested in? Is there a way the company can help support these opportunities? Most importantly, are the company’s goals big enough for great people to be attracted to the opportunity? Great people love opportunity—and will choose the potential to do something great—over the security presented by a big paycheque.
- Growth—does the job promote personal development? Are there any seminars, conferences, and/or courses that can be pitched to employees to attend—whether pool related or not? Richard Branson says it best, “If you take care of your employees, they will take care of the clients.” Great people are always looking to grow.
- Money—as stated previously, money may be an important factor, but not the primary focus (which is why it is the last item on the list). Great employees care more about the people, and the opportunity than they care about how much a job pays (perhaps this could be the company’s “deal breaker” factor). Even with this in mind, these employees are worth a premium wage; however, they will also deliver much more in return. How much should someone earn who could potentially eliminate even just half of one’s headaches, while helping to grow revenue? Great people do not cost money; they help companies make money. They just need the opportunity to prove it.
