Interesting opinion piece by Martin Dewhurst, Matthew Guthridge, and Elizabeth Mohr (NOVEMBER 2009):
Numerous studies have concluded that for people with satisfactory salaries, some non-financial motivators are more effective than extra cash in building long-term employee engagement in most sectors, job functions, and business contexts. Many financial rewards mainly generate short-term boosts of energy, which can have damaging unintended consequences…..
via Motivating people, getting beyond money – McKinsey Quarterly – Organization – Talent.