RSS For the Love of Money

I was sitting at my computer listening to some “old school” music and thinking about how to begin writing this week’s blog post. The next thing I know, a song starts playing that I really enjoyed as a teenager. This song, “For the Love of Money,” by the O’Jays,  about what motivates us as individuals. I know money is a positive motivator because it allows us to buy the things we need to be happy and fulfilled. However, there is the old adage that says money is the root of all evil. Is it just me, or do you find it remarkable that money is perceived as both good and bad?

The following lyrics from the O’Jays song put an interesting spin on what money might mean to different people:

Some people got to have it / Some people really need it / Listen to me y'all, do things, do things, do bad things with it / You wanna do things, do things, do things, good things with it

Each of us know probably know individuals who are financially secure, but in spite of this, they don’t appear to be happy or fulfilled. I’ll bet we also know people who are financially struggling, but who are at peace with their circumstances. This dichotomy is interesting to me because it is tells us that money isn’t essential to happiness.

If we think about this from a business perspective, money is always going to be a determinant in attracting and retaining strong talent. However, it’s possible – even likely – that top talent will be attracted to an organization even knowing they can receive a higher salary from a competitor. How do I know this? As well as many friends and colleagues, I have turned down opportunities for more money simply because I value the organization where I work. Conversely, I’ve known individuals who have gone to work for a new organization based solely on pay, only to return to their former employer a few months later because they were unhappy.

[Click here to watch the O'Jays perform on Soul Train.]

As The O’Jays' song so aptly states:

Money can change people sometimes / Don't let, don't let, don't let money fool you / Money can fool people sometimes / People! Don't let money, don’t let money change you / It will keep on changing, changing up your mind

I don’t know about you, but I believe the greatest motivator is the pursuit of happiness, which means feeling both productive and valued at your job. And, although we need money to get by in this world, it doesn’t necessarily lead to happiness. I’d love to hear your comments if you think differently!

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Home About Archive Mitch HagstromMitch Hagstrom
Executive Vice President
Chief Banking Officer
Pacific Continental Bank

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