Motivation for working: Recognition, Fulfillment or Money?

So what is it we actually want from work? Can the answers be narrowed down to a mainstream set of key factors?

I have worked in executive search in Europe and Asia Pacific for years, and as different as the cultures are, the same applies to the peoples` mindsets. In some markets, and here we need to generalize a bit in order to come to a conclusion, monetary aspects are by far the No. 1 stated reason, whereas in other cultures feeling obliged to serve for a greater purpose or to develop a better society are predominantly mentioned reasons for working.
I have had good mentors throughout my career and have learnt how to dig "deep down" in terms of discovering the real drivers, the core motivation for action. In the large majority of cases the key factors are either held back on purpose (situation: job interview) or not even obvious to the interviewee him-/herself.

With very few exceptions (opinion leaders, peace nobel price laureates, artists, discoverers, sports semi-professionals, researchers, Doctors Without Borders et cetera) people work for a single dominant cause: making money. If possible - a fortune. Sometimes people even risk their lives or existence for money.

In the context of work, money, a simple word, nowadays can be broken down into compensation, benefits, company car, housing allowances, stock options, partnership, executive bonuses, severance pay and many others. However, even where other reasons and interests play an increasing role when making a decision for a certain job, seldom do people change employment for the same compensation package or less. You do however see candidates moving from A to B agreeing on a less spectacular title, less power or a company with lower anticipated status - if the money is right. It still remains the most important reason for working.

Modern HR consultants and psychologists would most likely not agree with the made statements; and yes I intend to challenge a bit of contra opinion here! You will find a large variety of - proven - psychological, behaviour or value assessment tools, widely used in the human resources and recruitment industry. But one thing is common to most assessments - the financial security or increase of compensation is taken as a fact, is left out of the equation. Assessments do in most cases not consider the option "if you had to live on a 25% lower budget....". Only few would agree embarking on a lengthy career development path putting personal goals and non-monetary achievements first, with the financial success being projected in the far future.

Recent opinion polls show that the trend of appreciating recognition and other personal reasons over money has gained some momentum. But again, opinion polls do not reveal the true core, as they do not go into deep..

Companies and consultants alike tend to "re-invent the wheel", for various reasons. Of course there are exceptions to the rule. Concerning motivation, most companies would love to have a team of employees valuing hard work, productivity, loyalty and (monetary?) company goals over compensation and benefits. Many have tried hard, but only a few have succeeded in creating a value proposition superior to high income potential.

I would position myself somewhere in the middle. Recognition, status, fulfillment and contribution are some of the reasons for me putting in large efforts to my work. The combination with a very decent compensation is the perfect match. This is what entrepreneurs are looking for.

Ask yourself: What is your motivation?