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Is Your Work Ethic in Sync with Your Bank Account?
In this tough economy, it’s not always within your control, or even your employer’s, whether or not you get the pay you deserve. Many companies are struggling just to stay alive and can’t afford any wage increases. They may even be forced to hand out pay cuts or layoffs.
Along with the economic downturn has come a perceived decrease in employee work ethic, and a big debate over a possible relationship between the two conditions.
Does inadequate pay cause poor work ethic … or vice versa … or none of the above?
Some studies say that employees who aren’t rewarded for their hard work lose their motivation. Other researchers say that the millennial generation’s emphasis on work-life balance has caused traditional employers to view them as poor workers, and remunerate them accordingly. Still others see no correlation between pay increases and productivity increases in the statistics of the past several decades.
So, are you caught in a vicious cycle, where the less you get rewarded the less you work, and the less you work the less you get rewarded?
Some workers allow themselves to become discouraged, and just stop trying. “Why invest my effort when there’s no return on my investment?” Others stay positive and look for ways to amp up their income, whether it’s angling for a promotion, kissing up to the higher-ups, or seeking another job.
The only thing the “experts” all agree on is that those with a history of a good work ethic are most likely to be the winners when the economy turns around and raises are being handed out again. In that sense, we believe that yes, your work ethic is in sync with your bank account.
