A recent survey by Cornell University and the National Institute on Aging found most participants would opt for higher income over advantages such as additional sleep, a shorter commute, being around friends or visiting family, according to Human Resource Executive Online.
The survey presented a number of scenarios in which respondents chose between monetary compensation and other incentives. Most indicated they would probably give up the incentives, despite the fact they would make them happier, in order to secure a salary increase.
Multiple study groups were used. While the margin varied, each of the three had more people choose the money. Consulting executive Michael Denisoff noted current economic conditions may have impacted the results. Increased worker anxiety over the economy in general and the affordability of needs such as health insurance, as well as the long-term task of meeting retirement costs, may be causing fear-based decision making.
"We have to provide resources through programs that teach our employees how to live a life outside of work," said Seattle executive Andrea Ballard.
He and other experts, however, told the source human resource management should not focus too much on these results. They indicated human resource systems should make it plain the company values its employees and is invested in their long-term well-being.
