This infographic is circling the Internet about how to motivate employees. Money is not the top motivator.
I would suggest when hiring discuss how the employee would like to be engaged.
And Praise, Recognize and Pat on the Back! "67% of workers say praise and commendation from a manager is what truly motivates (vs. the 52% who say an increase in base pay does the trick.)
A couple of other articles:
A video of Zappos CEO Tony Hsieh: 'Hiring Mistakes Cost Zappos.com $100 Million'