Is Money All That Matters?

The three lenses of value to drive a workforce transformation

A nation’s human-capital policies must be agile and adaptable, yet effective enough to drive national-scale transformation. But this is a daunting task, and one that has proven extraordinarily challenging for even the most sophisticated policy bodies in the most advanced economies. When considering how to encourage people to move into new roles or locations, governments and firms often focus on extrinsic rewards – the pay, benefits, or even visa facilitation that can influence an individual’s decision. The success of a large-scale workforce transformation demands a structured approach that explicitly considers and weighs each of the three lenses — extrinsic, intrinsic, and cultural. We recommend a five-step approach:


Five Step Framework For Large Scale Workforce Transformation


In this paper, we argue that these extrinsic rewards be given due weight, but only as one of three lenses that encapsulate the motivations of individuals and groups to take jobs. We argue that the other two lenses – intrinsic motivations and cultural values – play important roles that have often been underestimated.

Is Money All That Matters?