What 8 things do employees want?

Hint, money is not on the list...

This article was origianally printed in BLR's weekly newsletter.

Is money the key to retention and productivity? It helps, says the Christian Science Monitor's Marilyn Gardner, but it's not enough. Beyond pay and benefits lie eight key factors that influence "happiness" at work-factors that motivate workers and keep them at your organization. Here's our distillation of Gardner's eight factors, as found on the website, communityinvestmentnetwork.org.

1. Appreciation
Praise heads the list for many workers, and it doesn't cost the employer anything to provide it, says Gardner. A sincere thank you or a short note can mean a great deal.

2. Respect
Again there is no cost and a big payback. Respect plays out in letting people know that their work is appreciated, in treating them like adults, and in being fair in your dealings with them.

3. Trust
Trust is the action side of respect. People need guidance, but they need to know that their boss trusts them to be able to get a job done on their own.

4. Individual Growth
Today's workers-especially the Gen Y group-want training, want to take on new challenges, and want to advance based on their new abilities. Giving a raise without increasing responsibilities could actually backfire, notes Gardner. As one expert says, if you give more money to an unhappy employee, you end up with a wealthier unhappy employee.

5. Good Boss
It's the old saw: People don't leave companies, they leave bosses. In a recent Robert Half survey, Gardner notes that 1,000 Gen Y workers ranked "working with a manager I can respect and learn from" as the most important aspect of their work environment.

6. Compatible Co-workers
Working with people you enjoy is also very important, says Gardner. Spending the day-every day-with people you don't like does not make for a productive workplace.

7. Compatible Culture
Employees want a work environment that fits their needs. That could mean hard-driving, high paying, or it could mean high flexibility and significant attention to work/life balance.

8. A Sense of Purpose
People want to know that they are contributing to something worthwhile. They need to know what the organization's core purpose is and what it is trying to achieve. And then they need to know how their particular job fits into the whole.

One of the interesting things that Gardner discovered about employee "happiness" is that there is a disconnect between what managers think and what employees think about happiness at work.

Managers tend to think that salary and benefits are the main motivators, while workers consistently respond that factors such as those mentioned above are what's important. Successful organizations will find a good balance to retain their best people.

Employee Training, Employee Assessments, and Team Building Activities are all great tools to use to improve employee engagement.