How much money is more than adequate for any general employee working
in an organization? This is a seemingly simple yet a very hard question
to answer. Money is supposed to be an important element influencing
employee engagement. So what happens when money is kept out of
consideration while determining the drivers for employee engagement.
With
the above as the backdrop, the 10 million dollar gage for employee
engagement is a useful construct to understand the level of employee
engagement in an organization.
Let
us assume 10 million dollar is more than adequate for any general
employee working in an organization. What than means is that if a
general employee gets 10 million dollars he rises above the need to work
for purely economic or financial reasons.
So
what would be the factors that would influence the engagement of such a
general worker with the organization supposing he is given 10 million
dollars. Following scenarios could be thought of as the possibilities
that will emerge.
- Employee
wants to continue working in the same field and in the same
organization. This is the case of an employee who is passionate about
the work she is performing. It also shows the strength of the culture
and working environment in the organization.
- Employee wants to
work in a different field but in the same organization. This is the case
of an employee who has lost passion about the work she is performing
and wants to get into another area she is interested in. It, however,
shows the strength of the culture and working environment in the
organization.
- Employee wants to continue working in the same
field but in a different organization. This is the case of an employee
who is passionate about the work she is performing. But it shows the
culture and working environment in the organization has room to improve.
- Employee
wants to work in a different field and in a different organization.
This is the case of an employee who has lost passion about the work she
is performing and wants to get into another area she is interested
in. It also shows the culture and working environment in the
organization has room to improve.
- Employee does not want to work
at all and wishes to quit the rat race. This would mean the employee
was not enjoying the work she was performing and also not enjoying
working in the corporate world. She was working due to lack of any other
choice. And probably the only motive was to have some means to pay the
bills.
The table below captures the above in a summarized
form. It is clear from the table that there exists the case where
someone may be wanting to quit the rat race altogether. This in some
sense speaks about the prevalent culture in the corporate world, in
general.
For any organization knowing the number of cases where the
general employee would want to work in a different organization is a
highly pertinent information. Higher employee engagement would mean
working towards a situation where such cases are minimized.
HR
folks in many companies run employee engagement/satisfaction surveys
with lot of fanfare and drum-beating. These exercises become yearly
rituals and provide good sound-bites to the top guys in management and
HR. However, they generally fail to delivery anything concrete. The 10
million dollar gage can perhaps serve the purpose in a better manner and
more efficiently.