hey it depends on situations and more on person. with change in time now people want a good environment in the organization. If u provide someone with all the facilities, then he will be satisfied. If you appraise him for the work he has done than he will be satisfied. Moreover now young generation wants career growth.
But on the other hand there are people who are working only for money. They need to pay their loans, they have some personal problems, etc. So, in that case, compensation is very important.