Having a purpose at work – and being validated for that by both managers and peers – trumps even pay in the minds and hearts of workers, according to a report from Globoforce's WorkHuman Research Institute, "Bringing More Humanity to Recognition, Performance, and Life at Work."

The institute surveyed 2,703 employed people and found that having a personal sense of meaning in one's work is even more important to respondents than compensation — salary, benefits, and other perks, which ranked as the third most important reason for staying. Also ranked above pay: serving on a team with members who are enjoyable to work with.

But workers need to be validated for their efforts – and often: the more recently someone has been recognized, the more likely they are to see the meaning and purpose in their work, according to the survey. Those recognized in the last month are 29% more likely to agree with the statement, "The work we do at my organization has meaning and purpose for me," compared to those who have never been recognized.