One of the challenges many managers face is determining how to engage, motivate and reward their workforce. While financial incentives do have a part to play, they often are not enough to keep employees “happy” with their work.
Not long ago I was discussing this topic with colleagues and the phrase “personal currency” came up. The theory behind personal currency is that each of us place a high value on different things in our work lives. Those things we value most are our currency. For example, some individuals find the most value from monetary rewards or advancement opportunities. Others covet flexibility of schedule or autonomy in their work. Still others place a high value on skill development or involvement in a variety of projects. The list of personal currencies can go on and on.
