IT’S OFFICIAL: MONEY CAN’T BUY YOU LOVE
Why culture trumps perks when it comes to engagement
it’s official: money can’t buy you love
Why culture trumps perks when it comes to engagement
Build it and they will come – but will they stay?
“We have a compelling vision, our values are prominently displayed in reception, we offer perks and invest in training… our intentions are genuine, yet we struggle to engage our team fully.”
Many well-intentioned organisations tick the boxes of a good employer, yet still fall short when it comes to deep, emotional engagement. Why? Because the things that matter most to employees aren’t always the most obvious.
Let’s start with a reality check.
In a classic misalignment, Jack Canfield’s The Success Principles compares what supervisors think motivates people vs. what employees actually value:
What Supervisors Think Employees Want:
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Good wages
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Job security
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Promotion opportunities
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Good working conditions
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Interesting work
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Loyalty from management
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Tactful discipline
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Appreciation
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An understanding attitude
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Feeling “in” on things
What Employees Want:
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Appreciation
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Feeling “in” on things
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An understanding attitude
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Job security
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Good wages
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Interesting work
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Promotion opportunities
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Loyalty from management
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Good working conditions
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Tactful discipline
The disconnect is stark. The top three motivators for employees – feeling appreciated, being included, and feeling understood -barely register in the manager’s mindset.
So if it’s not about money or perks, what is it about?
Culture Still Reigns Supreme
Research from Glassdoor analysed over 600,000 employee reviews and found that culture and values are the strongest predictors of workplace satisfaction, more than salary, benefits, or even work-life balance.
Using a “Shapley Value” analysis (a statistical method used to determine the importance of each factor), Glassdoor identified the top drivers of employee satisfaction:
| Driver | Predictive Value |
|---|---|
| Culture & values | 22.1% |
| Senior leadership | 21.1% |
| Career opportunities | 18.8% |
| Business outlook | 13.9% |
| Work-life balance | 12.1% |
| Compensation & benefits | 12.0% |
DOES MONEY NOT MATTER AT ALL?
Compensation and perks do impact employee satisfaction – but after a point, that impact plateaus.
“If you try to buy love, you will go bankrupt trying to possess it.” Matshona Dhliway
Psychologist Daniel Kahneman and economist Angus Deaton famously found that once basic financial needs are met – around AUD $100,000 per year (based on the original USD $75,000 threshold), additional income has minimal impact on day-to-day happiness (PNAS, 2010).
What has a lasting impact?
A sense of belonging. A shared purpose. Leaders you respect. Work that matters.
Culture Isn’t Just a ‘Nice to Have’
When those cultural levers aren’t in place, people develop subcultures – often protective, reactive ones. They put up barriers, focus inward, and protect their turf. That’s how ‘us vs. them’ thinking creeps in between teams, levels of leadership, or departments. And that kind of culture resists change.
Internal competition becomes more exhausting than external competition. Trust breaks down. Energy drains.
Three Practical Steps FOR LEADERS AND HR to Build a Culture that Thrives
If you want a workforce that’s energised and change-ready, start here:
1. Anchor to a clear purpose
Why does your organisation exist? Who benefits from your success?
If you disappeared tomorrow, what would your clients or community lose?
2. Live your values – not just laminate them
What are the core values that matter most?
How are they reflected in behaviour, not just branding?
Do your systems, rituals, and language reinforce those values daily?
3. Use culture language often and intentionally
The words we use shape what we believe and how we act.
Create shared language that reinforces purpose, values and behavioural norms. Use it in performance conversations, team rituals and daily dialogue.
The Bottom Line
Culture is the number one driver of sustainable engagement and readiness for change. And it doesn’t emerge by accident. It requires consistent reinforcement, meaningful leadership, and a shared sense of why we do what we do.
Before you add another line to your perks package, ask:
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Are we genuinely living our values?
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Do our leaders model what we say matters?
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Have we created an environment where people feel they belong, contribute and are appreciated?
Because when people feel seen, supported and purposeful, they don’t just stay – they thrive.
