It would appear not.

Recently I was speaking to a father who has a daughter with special needs.  She has a long list of both physical and mental challenges.
The father is a professional man who works in the City of London.  He is hard working and loyal to the firm.  He confided that he earns quite well but knows he could get better pay if he changed jobs.  This would be very handy as the costs of supporting his daughter are very high as she needs special equipment at home and in the car, special clothing and shoes, which she of course grows out of regularly and various support such as help in looking after her and extra activities to encourage development.  Holidays were not on the agenda.
My first reaction was to ask why he doesn’t move to a different firm who would pay him more? 
He looked at me with wide eyes and said that time off to be there for his daughter when needed was more important to him than money and his present firm understood this. 
What would you do?

Research shows that it is those who are on minimum wage or just above who are motivated to work for money alone.  That’s perfectly understandable, as when just trying to put food on the table and keeping a roof over our heads is a struggle, money has to be the main motivator.
The majority of the workforce in the UK however, who are average earners or higher, are motivated by many other things.  Of course, money is a motivator, but it is not their primary concern.
People these days want flexibility to do other things, whether that be looking after a loved one or learning something new or pursuing a new hobby.  They want to feel valued and valid, so when their company takes time in helping them develop and grow they will thrive.  They want companionship and to feel they belong.  They want praise where praise is due.  And of course they want to have fun.  Where is it written that work shouldn’t be fun?  I’ve never seen it, have you?
If you have people working for you, even if it’s just one person, it may be a good idea to find out what really motivates them.  To ask if they need help with something that is outside of their work remit.
The effect could make the difference between them staying or leaving and will certainly make working together a much better experience.