Are you sat at your computer desk this Monday, dreaming of the day when your boss will hand you a cheque with a few extra zeros added onto the end?
If you think that finally getting that pay rise you deserve will make everything better, you’re wrong because new research has shown that a wage boost will only make you happy temporarily.
Researchers found that although a pay rise makes you happy immediately, after a few weeks, you begin re-evaluating your status once again and compare yourself to your colleagues.
According to The Mail Online, Professor Amit Kramer, of the University of Illinois, said: ‘Pay, as you might expect, is a relative thing.
Research shows that flexi-time and working from home are greater incentives than pay
“I think most people would agree that a certain level of pay that allows you to meet your needs is critical.
“However, beyond that level, relative pay becomes an issue and with it, perception of pay or pay satisfaction.”
“It might have a short-term effect on pay satisfaction, but individuals are likely to regress to their initial pay satisfaction level over time,” he said.
The researchers say that employers wrongly believe that pay is the greatest incentive for workers.
In fact, flexible hours and the ability to work from home are stronger incentives for workers to try harder at achieving work goals.
“While this may be true for some employees, for others the social aspects of pay and the things they perceive to be sacrificing for pay are stronger or act as additional incentives and disincentives,” said Professor Amit.
