Copyright © 2001-2008 by Ethan A. Winning
What's in a title? There are two kinds of titles, corporate and functional. Within an industry, especially banking, corporate titles (e.g., AVP and VP) have been devalued for some time. I have often told the story of when I finally made AVP at Wells Fargo, and found that there were 642 others so honored. I said that titles had become devalued; I did not say that they were inconsequential. The individual who attains the rank of AVP or Vice President sees an inherent significance in such achievement since it (1) shows acceptance of his or her efforts, (2) is a milestone in a career with an organization, (3) displays relative social rank, and rank does have some privileges, and overall (4) is a sign of recognition from the organization.
While some recently published books have motivational factors listed completely out of order, since the first surveys were done in 1930's, these factors have been:
- The Work Itself
- Growth and the Possibility of Growth
- Communication (Being "In-the-Loop")
- Merit Wage Increases
(Note that compensation, even when mentioned as a motivator by employees, has hardly ever been listed higher than fifth, always behind the work itself, achievement, and recognition. When thought of as a true motivator, merit increases have to be taken in the context of recognition for performance.)
A mid- or senior management title, therefore, has relevance to four of the six factors listed: receiving a title demonstrates growth, a degree of achievement, recognition, and communication, since the higher one is in the organization, the
This article has been moved to the subscriber's section. The subject is also more closely examined in Labor Pains.