2026年全面奖酬现状报告（英文版）

2026

STATEOF

REWARDS

HowRewardsandEmployees,BeliefsAboutTheirWorkDriveWorkforceOutcomes

ExecutiveReport&Analysis

THEREWARDSLANDSCAPEIN2026:

ASYSTEMUNDERPRESSURE

Whenorganizationsinvestinpeoplewithintention,theydontjustdriveperformance;theyhelppeoplethrivethisunderlyingprincipleiscoretoworkplacerewards.Employerstodayspendanaverageof

$37perhourworked,orroughly$77,000oncompensationperemployeeperyear,makingpersonneloneofthelargestlineitemsoncompanybudgets.1Beyondbasepay,organizationsalsoinvestheavilyinotherrewardsofferings.Nearlyalloffervariablepay(96%)andmeritpay(93%),2while42%offer

benefitssuchashealthreimbursementarrangements.Investmentinprofessionaldevelopmentis

similarlywidespread,with84%offeringformallearningopportunitiesand78%providingcoachingandmentoring,3reflectingthevastscopeandscaleofrewardsportfoliostoday.

Despitethesesubstantialinvestments,employeeengagement

hasfallento31%,itslowestlevelinadecade,with8millionfewer

engagedworkerssince2020,4andvoluntaryquitsholdsteady

atroughly3.2millionpermonth.5Thisincurssignificantcosts,as

unengagedemployeesaccountforapproximately$1.9trillionin

Employeesatisfactionhasfallento

31%

Thelowestit’sbeeninadecade

lostproductivitynationally,6-7withthecostofreplacinganindividualemployeerangingfromastaggering0.5x-2xtheemployees

salary.8-9

Takentogether,thesepatternshighlightasignificantopportunitytorethinkrewardsthroughamoreintentional,human-centered

approachonethatelevatestheemployeevalueproposition

acrossthecareerlifecycleandrecognizesthatthebeliefsthat

individualshaveabouttheirwork(forexample,whethertheyfinditmeaningful,feeltheymatter,andseegrowthopportunities;see

Figure1)determinewhetherthoserewardstranslateintooptimalbusinessoutcomes.

ConductedinpartnershipwiththeHumanResourcesCertificationInstitute(HRCI)andtheInternationalThoughtLeaderNetwork(ITLN),thisstudysoughttoexplorethreecoreresearchquestions:(1)which

rewardsemployeesvaluemostacrosstheemployeelifecycle,(2)howemployeescorebeliefsabouttheirwork(whethertheyfinditmeaningful,feeltheymatter,andseegrowthopportunities)shapethosepreferencesandpredictworkforceoutcomes,(3)wheregapsmayexistbetweenemployeesreportedvaluesandthepotentialassumptionsheldbymanagers/leaders.

ThisstudyisanchoredintheWorldatWorkRewardsframework,encompassingwell-being,recognition,careergrowth,compensation,andbenefits,treatingthesefivepillarsnotasisolatedelementsbutas

aninterconnectedecosystemwhosecombinedeffectdeliversthehighestvaluefororganizations.Ourresearchsurfacesanunderlyingmisalignmentatthecoreofthisemployeevalueproposition,operatingacrossthreekeymechanisms:

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•Thefirstistherewards–lifecyclegap.Therewardsthatinitiallyattractcandidatestoajobareoftennotthesamerewardsthatdrivetheirengagementordecisiontostayinthejobastheyadvance

acrosstheircareersandlifestages,yetmanyorganizationstreattheseasstaticofferings.

•Thesecondisanemployeepreference/managerperceptiongap.Managers’perceptionsofwhatemployeesactuallyvalueintheworkplacemaynotalwaysalignwithemployees’preferences,

especiallyastheyevolveacrossdifferentcareerandlifestages.

•Finally,wefindthatemployees’beliefsabouttheirwork(whethertheyfinditmeaningful,feelthey

matter,andseegrowthopportunities),arecriticaldriversforlongertermretention,engagement,andsatisfaction.Whilecompensationandbenefitsremainimportantforattractingtalent,theirabilityto

sustaintheseoutcomesdependsinpartonwhetherthisbelieflayerisintact.

The2026StateofRewardsaimstoclosetheseenduringgaps.Bycapturingemployeeexperiences

andpreferencesacrossthefulllifecycle,comparingthemwithleaderperceptions,andhowcorebeliefsaboutwork(Figure1)shapetheeffectivenessoftheentirerewardsportfolio,thisstudyoffersleaders

theevidence-basedclarityandactionableinsightstostrategicallystructurearewardsportfoliothatenablesthemtofullyrealizethepotentialoftheirevolvingworkforceneeds.

Figure1.BeliefsthatShapehowEmployeesInterprettheirWork

Beliefswemeasured

Thequestionemployeesareanswering

Whatitlookslikeintheworkplace

Meaningfulwork

DoestheworkthatIdoherematter?

Connectsdailytaskstoabroaderpurpose

Connection

DoIbelonghere?

Feelspartofateamandwillinglycollaborates

Mattering

Doesthisorganizationvalueme?

Feelstheircontributionsarenoticedandvaluedbeyondtheiroutput

Impact

Domyactionsactuallychangeanythinghere?

Candrawalinefromtheirworktoaresulttheycareabout

Gratitude

Istheresomethinghereworthappreciating?

Noticesandvalueswhattheorganizationprovides

Contributions

DoIhavesomethingvaluabletooffer?

Feelstheireffortsandperspectivesareneededandvalued

Growth

CanIbecomemorehere?

Seesaclearpathtocultivatingtheirskillsoradvancing

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The2026StateofRewardsReport

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KEYINSIGHTS

TheRewardsParadox

Employeesatisfactionwithfoundationalrewardsisreasonablystrong:

benefits(77%),well-being(73%),compensation(69%),yetonly44%ofemployees

reportbeingextremelylikelytostaywiththeiremployerinthenextyear.

Jobexplorationiswidespread:Amongemployeesconsideringleaving,

three-fourthshavesearchedforexternaljobs,abouthalfhaveapplied,

and38%haveinterviewedelsewhere.

Employeesarerelativelysatisfiedwiththecompensationand

benefitstheyreceive,yetmanyareactivelypreparingtoleave,

suggestingthatsatisfactionwiththesefactorsaloneisnotsufficient

forlongertermretention.

WhatAttractsEmployeesIsNotWhatRetainsThem

Foremployees,competitivepayistablestakesacrossthelifecycle

—importantforattraction(88%),engagement(87%),andretention

(93%)—butitdoesnotexplainvariationinwhostaysandwho

leaves.

Whenforcedtoprioritize,employeesrankpay(70%),flexibility(60%),

benefits(40%),andmeaningfulwork(36%)asthetopfactorsintheir

decisiontostay;meaningfulworkemergesasthedifferentiatoronce

baselineexpectationsforpayandflexibilityaremet.

TheEmployee–ManagerPerceptionGap

Managerscorrectlyidentifycompetitivepayasthetopretentiondriverfor

theiremployeesbutmisjudgetherewardscomponents.Theyoverestimate

careeradvancementby15percentagepointsandunderestimateflexibility

(–14pp),benefits(–8pp),andPTO(–6pp).Whileemployeesprioritize

flexibility,benefits,andtimeoff,managersthinktheiremployeeswant

careeradvancement.

Despitethismisalignment,almost7in10managersreportbeingextremely

orveryconfidentintheirunderstandingofwhatemployeesvalue.

ManagersreportthelowesteNPSofanyrolelevel(23.2%promoters)

andweakersatisfactionacrosscareerdevelopment,recognition,and

compensation.Theworkforcesegmentmostresponsiblefordelivering

therewardsexperienceisitselftheleastsatisfiedandleastlikelyto

advocatefortheorganization.

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HowRewardsandBeliefsImpacttheBottomLine

Therewardscomponentswiththehighestsatisfactionscores–compensationandbenefits

–aretheweakestpredictorsofretention,whereastherewardswiththelowestsatisfaction–careerdevelopmentandrecognition–arethestrongest.

ThesamepatternholdsforeNPS–well-being,careerdevelopment,andrecognitionarethestrongestdriversofeNPS.

Employees’corebeliefsabouttheirwork(e.g.,whethertheyfinditmeaningful,feeltheymatter,andseeopportunitiestogrow)shapehowemployeesevaluaterewards.High-beliefemployeesrankmeaningfulworkabovepayasaretentionfactor;low-beliefemployeesflipthisorder.

ACTIONABLERECOMMENDATIONSFORLEADERS

Maprewardsinvestmentagainstretentionrisk–the

pillarswhereorganizationsinvestthemostresourcesmaynotbetheoneswhereretentionrisklives.

Designtheemployeevaluepropositionasadynamicofferingthatshiftsacrosstheemployeelifecycle.

Buildfeedbackloopsonrewardspreferencestoequipmanagers–thesegmentresponsiblefordeliveringtherewardstotheiremployees--theinsightsonwhattheiremployeesactuallyvalue.

Investinthemanagerexperience–whenmanagersaredissatisfiedandunderresourced,evenwell-designed

rewardsportfolioscanlosefidelitybeforereachingemployees.

Measurethebeliefsthatemployeeshavewiththeirwork(e.g.,whethertheyfinditmeaningful,feeltheymatter,

andseegrowthopportunities),tounderstandtheholisticemployeeexperienceandsurfaceanyculturalgaps.

The2026StateofRewardsReport

METHODS

DatawerecollectedviaanonlinesurveydistributedacrossWorldatWork,InternationalThoughtLeaderNetwork(ITLN),andTheHumanResourceCertificationInstitute(HRCI)databasesfromJanuary19,2026throughFebruary25,2026.Atotalof1316fullresponseswerereceived.Themarginoferrorforthe

completedsampleis±2.7%atthe95%confidencelevel.Becausethesurveyallowedrespondentstoselectmultipleitemsoncertainquestions,reportedsamplesizesforindividualitemsmayexceedthetotalnumberoffullresponses.Datawasanalyzedthroughunivariate,crosstabulation,andmultivariateanalyses.

RESPONDENTPROFILE

Atotalof1,316fullresponseswerereceived.ThesampleispredominantlydrawnfromHuman

ResourcesandPeopleOperations(83%),withthemostcommonspecializationsbeingCompensationandSalaryAdministration(27%),HRGeneralist(20%),andTotalRewardsStrategy(12%).

▲

Nearlythree-quarters(72%)havebeen

intheirrolefor2-5yearsormore.

Nearlyall

respondents

arefull-time

employees(96%).

Mostrespondentsaremiddle-aged(45–64),female,andwhite,

withapost-secondaryeducation.

Individualcontributorsconstitutethelargestrolegroup(n=500),followedcloselyby

SeniorLeadership(n=492)andMid-levelManagement(n=324).

Workarrangementsaredistributedacrosson-site(32%),hybrid(25%),andfullyremote(21%).

ORGANIZATIONALOVERVIEW

Thesamplerepresentsabroadcross-sectionoforganizationtypes.Thereisarelativelyeven

distributionoforganizationsizes,withmostfallinginthemid-sizetolargerange(23%employ1,000–

4,999workers)andonly9%representingthesmallestorganizations(1–49employees).Fortypercentareprivatelyheld,22%arepubliclytraded,andmorethanathird(33%)operateinpublicandsocialservicesindustries,includingeducation,government,andhealthcare.Whenaskedabouttheirorganization’s

financialperformancein2025,responsesfollowedaroughlynormaldistribution—athirdsaidthey

didprettywell,while21%saidtheyjustgotbyandanother21%saidtheydidverywell.OntheHRfront,31%reportedsuccessfullylaunchingamajorHRinitiativeinthepastyear,25%improvedemployee

engagementorsatisfactionscores,and24%receivedpositiverecognitionfromleadershipforHRperformance.

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KEYFINDINGS

RewardsParadox:Employeesarerelativelysatisfiedwithbenefitsandcompensation,yetmanyareconsideringleaving.

Acrossrolesandresponsibilities,employeesreportgenerallystrongsatisfactionwiththeirrewards—rangingfrom51%satisfiedwithcareerdevelopmentupto77%forbenefits.Onthesurface,thesenumberssuggestthatmostorganizationsaredeliveringrewardspackagesthatmeetemployee

expectations.

Butacloserlooktellsadeeperpattern.Whiletop-linesatisfactionisstrong,thereisconsiderable

variationacrosspillars.Careerdevelopmentandrecognitionstandout,withalmostathirdofemployees(30%)reportneutralsatisfactionwithcareerdevelopment,and28%areneutralonrecognition.While

neutralratingsarenotdissatisfaction,theyarenotendorsementeither,andtheysuggestagapbetweenheadlinesatisfactionscoresandhowemployeesactuallyexperiencetheserewardsdaytoday.

Thatgapbecomessharperwhensatisfactionisexaminedalongsideretentionintent.Only44%of

employeesreportbeingextremelylikelytostaywiththeiremployerinthenextyear,despitereportingstrongsatisfactionwithmostrewardscategories.Employeeswithweakerretentionintentalsoreport

higherdissatisfactionacrosstheboard.Theconnectionbetweenrewardssatisfactionandcommitment

The2026StateofRewardsReport

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tostayisexpected,butthefactthatstrongsatisfactioncoexistswithsoftretentionintentpointstosomethingthatsatisfactionscoresalonearenotcapturing.

Thesesatisfactionpatternstakeonaddedweightwhenpairedwithemployees’reportedexperiences

ofcareerprogression.Almosthalf(46%)saytheirorganizationdoesnotinvestintheirgrowthasa

professional,andanother55%reportthattheskilldevelopmentopportunitiesavailabletothemarenotrelevanttotheworktheydo.Together,thesefindingsconnectlowsatisfactionwithcareerdevelopmenttoabroaderpatternoflimitedorganizationalinvestmentinemployeegrowth,withdirectimplicationsforretention.

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Givenstrongoverallsatisfactionscores,onemightexpectemployeestoalsobestrongadvocatesfortheirorganization,buttheyarenot.Promoters(36%),passives(35%),anddetractors(28%)arenearlyevenlysplit,withameaneNPSscoreof2.1,suggestingthatsatisfactionwithrewardsisnottranslatingintoenthusiasmfortheorganization.

Thislukewarmadvocacyisconsistentwithemployeebehaviors;jobexplorationiswidespread,with75%ofthoseconsideringleavinghavingsearchedforexternaljobs,52%havingapplied,and38%having

interviewedelsewhere.

Thesefindingsreinforceaconsistentpattern:organizationsareinvestingheavilyinrewards,yetworkforcestabilityremainsfragile,adynamicwell-documentedinbroaderresearchfindings.10-11

Employees’ownwordsaddnuancetothisdynamic.Whenaskedwhatmakesagreatworkplaceorwhatmattersmostatwork,respondentspointedtobothfoundationalelements—competitivecompensationandwell-structuredrewards—andtothelesstangiblebutequallyimportantfactors:meaningful

connections,opportunitiesforgrowth,andasensethatstayingisworthmorethanjustapaycheck(seeFigure2).

Figure2

InTheirOwnWords

“Whatmatterstomeisincentivepay,

competitivesalary,beingabletotravel

someforwork,careeradvancement

opportunities,recognitionandprofessional

growthopportunities.Ialsovaluecommunity.”

“Seniormanagementmustcreatea

culturethatdemandsusingassessment

toolstohirepeoplethatlegallyfitthe

requirementsforeverypositionthat

includeseducation,experience,personality

type,andstrengths.Thentheymusthavea

formaldevelopmentplanwithtrainingtied

intoallemployees’performanceappraisals.

Rewardsforteamsandindividualsshouldbe

celebratedthroughouttheorganization.”

Whatattractsemployeesarenotwhatretainsthem:Compensationattracts;flexibilitysustains;meaningfulworkdifferentiates.

The2026StateofRewardsReport

Acommonassumption,andonethisstudysetoutto

test,isthatwhatattractsemployeestoanorganizationisnotnecessarilywhatkeepsthemovertime.To

explorethis,thesurveyexaminedhowtheimportanceofdifferentrewardsfactorsshiftsacrossthreestagesoftheemployeelifecycle:attraction,engagement,andretention.

Competitivebasepayremainsconsistentlyimportantthroughout—ratedhighlyforjoining(87.6%),stayingengaged(87%),andlong-termretention(92.8%).

Beyondpay,however,thepatternshifts.Workflexibilitygrowssharplyacrossthelifecycle,risingfrom68%

atattractionto85%forengagementand88%for

retention,makingitoneofthefastest-acceleratingdriversinthefindings.

Meaningfulworkfollowsadifferentpattern—

itemergesasatopfactoronlyafterbaseline

expectationsforpayandflexibilityaremet,suggestingthatoncefoundationalneedsaresecured,employeesbeginweighingwhethertheworkitselfgivesthema

reasontostay.Whenforcedtochoosetheirtopthreefactorsforstayinglong-term,employeesrankthemasfollows:pay(70%),flexibility(60%),benefits(40%),andmeaningfulwork(36%).

Peopleleadersmisdiagnosewhattheiremployeesvalue

Managersandemployeesarecloselyalignedonthetoptworewardsthatdriveretention(competitivepayandflexibility),buttheirprioritiesdivergeontheremainingrewards.Whenaskedtoidentifythetoprewardsthatdrivelongtermretentionfortheiremployees,managersrankcompetitivepayasthetopfactor(77%),consistentwithwhatemployeesalsoreport(70%).Butperceptiongapsemergewhenit

comestocareeradvancement,flexibility,benefits,andpaidtimeoff.

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Whileemployeesvaluesustainabilitywhendeliveredthroughrewardsincludingworkflexibility(60%),benefits(40%),andpaidtimeoff(31%),managersemphasizecareertrajectory,withalmost4in10

reportingcareeradvancementisatopdriverforemployees,comparedtojust1in5employeesactually

prioritizingthisreward.This15percentage

pointdiscrepancyisthesinglelargestgapinthefindings.

Managersalsounderestimatethe

importanceofflexibility(-14pp),benefits

(-8pp),andpaidtimeoff(-6pp),suggesting

thatmanagersemphasizethereward

componentsthatemployeesshouldvalue

–professionaldevelopment,mobility,and

growth,ratherthantheonesthatactuallymatterforthem.

Despitethesegaps,mostmanagersareconfidentinunderstandingwhattheiremployeesvalue.Nearly7in10(68%)reportbeingextremelyorveryconfidentintheirunderstandingofwhatemployeesvalue,andonly2.5%acknowledgelowconfidence.Theimplicationisthatmanagersarenotuncertain,but

thattheyareconfidentlymiscalibrated.Thefeedbackloopsthatwouldallowthemtoseethegapandcorrectcourseareeitherabsentorproducingmisleadingsignals.Thismattersbecausemanagersaretheprimarychannelthroughwhichrewardsstrategyreachesemployees.

Figure3

InTheirOwnWords

“AlllevelsofmanagementtrustingHRtodotheirjobinsteadofmanagementthinkingtheyknowHRbetter.”

“Haveamorecohesivemanagementteam-eachknowingtheir

rolesandperformingatthetopoftheirabilitieswhileusingallavailableresources.”

“Thereshouldbeacommunicationchannelbetween

meanduppermanagementtoachievebetterresultsandprovidefasterfeedback.”

“Havingadifferentmanagerwhoissupportiveandprovidesopportunitiesforprofessional

developmentandcareeradvancement.”

The2026StateofRewardsReport

13

Employees’ownresponsesreinforcethispattern.Whenaskedwhatsinglechangewouldhavethe

greatestimpactontheirjobsatisfaction,aconsistentthemeemerged:thedesireformanagementbuiltontrust,communication,andsupport(seeFigure3).

Thechallengerunsdeeperthanperception.Consistentwithexistingresearch,12-15managersreport

weakersatisfactionacrosscompensation,recognition,andcareerdevelopment,andaretheleastlikelytobeNPSpromoters,comparedtoindividualcontributors,directors,andVPlevelrespondents.Thismaypresentachallengefororganizations,asthegroupresponsibleforimplementingorganizationalrewardsstrategyintodailyemployeeexperiencesarethemselvesamongtheleastsatisfiedandleastlikely

torecommendtheirrespectiveorganizations.Whenthisimplementationlayerisstrained,evenwell-designedrewardsstrategieslosefidelitybeforetheyreachtheemployeestheyareintendedtoserve.

Closingtheperceptiongapthereforerequiresbuildingthestructuralfeedbackmechanismsthatallowmanagerstohaveclarityintowhattheiremployeesactuallyvalue,whilesimultaneouslyinvestinginthemanagerexperienceitselfsothattheyarepositionedtoeffectivelysupportanddelivertherewards

portfolio.

Therewardsthatpredictretention/employeeadvocacyandhowbeliefsshapetheseoutcomes

Whenlookingatsatisfactionratingsacrossthefiverewardspillars,employeesreporthighsatisfactionwithfoundationalrewardssuchasbenefits(77%),well-being(73%),andcompensation(69%),but

lowerlevelsofsatisfactionforrecognition(58%)andcareerdevelopment(50%).Aregressionanalysisdemonstratesthatthesesatisfactionrankingsinvertwhenitcomestopredictingretention.

Thepillarswiththehighestsatisfactionscores–compensationandbenefits–aretheweakest

predictorsofwhetheremployeesintendtostay,andthepillarswiththelowestsatisfactionscores–

recognitionandcareerdevelopment–arethestrongestpredictors.Employeesdissatisfiedwithcareerdevelopmentare~1.9xtimesmorelikelytosaytheyareextremelyunlikelytostay,thosedissatisfied

withwell-beingare~1.7xmorelikelytoreportlowretentionintent,andthosewithlowsatisfactionwithrecognitionare~1.5xmorelikelytoreportlowretentionintent.Andwhileit’sbroadlyknowninthe

researchlandscapethatorganizationswhoofferrobustcareerdevelopmentopportunitieshavehigherratesofengagedlearnersandjobpromotions,managersupportlagstheseaspirations.

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Forinstance,recentresearchhasshownthatonly15%ofemployeessaytheirmanagerhelpedthem

buildacareerplan,whilealmosthalfsayalackofgoodcareeradvicehashurttheirjobtrajectory.16-17Yetevenascareerdevelopmentemergesasthestrongestretentionpredictor,therewardspillarsthathavehistoricallyreceivedthemostinvestmenttelladifferentstory.Compensationandbenefitsappearto

functionastablestakes;theirabsencecreatesdissatisfaction,buttheirpresencedoesnotdifferentiateemployeeswhoarecommittedfromthosewantingtoleave.

Thesametrendsarereflectedforemployeeadvocacy,withwell-being,careerdevelopment,and

recognitiondrivinghighereNPSscores,suggestingthatemployeesbecomeadvocatesnotonlyduetocompensationandbenefits,butbecausetheirdailyexperienceofrecognition,growth,andsupportoffersthemsomethingworthadvocatingfor.Thesefindingsestablishwhichrewardspillarspredict

retentionandadvocacy,buttheyraiseadeeperquestion—ifthesameprogramsareavailabletoallemployees,whydosomeexperiencethemassufficient,whileothersdon’t?

Employees’ownresponsesoffersomeadditionalnuancestothisinsight.Whenaskedwhatmakesagreatworkplaceorwhatmattersmosttothematwork,aconsistentthemeemerged—thedegreetowhichthevaluesofemployeesalignwiththoseoftheorganization,androlethatconnectionandbelongingplayinshapingwhethertheirrewardsfeelsufficient(seeFigure4).

Thewaysthroughwhichdifferentemployeesexperiencetherewardscomponentscanvarydependingonthebeliefsthattheyhaveabouttheirwork(forexample,whethertheyfinditmeaningful,feelthey

matter,andseegrowthopportunities(Figure4).Thesebeliefsfunctionasthelensthroughwhichevery

togreat...”

Figure4

InTheirOwnWords

“CurrentlymycolleaguesandIarestrugglingwithadisconnectbetweenourvaluesandthecompany’s.

AlthoughIamabletodogoodworkandmakea

differenceinsmallwaysIremainconflictedaboutwhether

itisworthitoverall.”

“...atsomepointoncethemoneymatchestheamountneededtolivecomfortablyandalignedwithjob

expectationsandresponsibilities,itbecomesmoreabouthowconnectedyouaretotheworkandyourcoworkers.Theearlierthatmoneybecomesless

ofanissue,themorethattherealfactors

pertainingdirecltytotheworkcomeintoplayandpushorganizationstomovefromgood

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The2026StateofRewardsReport

rewardisinterpreted.Whenthatlensisrobust,thesameprogramsgeneratestrongeroutcomes.High-beliefemployeesreportanaverageeNPSscoreof8.84comparedto5.36forlow-beliefemployees,

andthesamepatternholdsforretentionintent.

Beliefsalsoreshapewhatemployeessaytheyneed.Thosewithstrongerbeliefsrankmeaningful

workabovecompetitivepayasaretentiondriver.Thosewithweakerbeliefsfliptheorderandpay

becomestheprimaryanchor.Thissuggeststhatwhenmeaning,mattering,andgrowthareabsent

fromtheworkexperience,compensationbecomestheonlyremainingfactoremployeescanevaluate.High-beliefemployeesarealsomoresatisfiedwitheveryrewardscategory,eventhoughtheyreceivethesameprograms.Thegapislargest

forcareerdevelopment(+1.33points)and

recognition(+1.21),andsmallestforbenefits(+0.62).Thisisconsistentwithestablishedresearchshowingthatpositivebeliefsdriveperformanceoutcomesandnottheother

wayaround.18-20

Thesamerewardsportfoliogenerates

differentreturnsdependingonthebelief

stateoftheemployeereceivingit.Andtheeffectisstrongestonrewardsthatdependonhumaninteraction—managerfeedback,growthconversations,recognition—ratherthanonrewardsdeliveredthroughpoliciesandsystems.

Thesebeliefsarenotfixedtraits.Theyare

shapedbyorganizationalconditionsandbyhowworkisdesigned,howlead