This paper reports on a new two-phase measurement technique that permits a direct comparison of the perceived relative importance of economic vs. non-economic factors in a job situation in accounting for personnel retention, the willingness to produce, and job satisfaction. The paired comparison method was used to measure the preferences of 91 enlisted men aboard a U.S. Navy destroyer for seven different job classifications, seven supervisors, and seven groups of co-workers. In a second phase of the study, these three job factors were combined, together with various amounts of pay, to form two-factor composites, e.g. job A and Supervisor B, or work group C and pay D. Ninety-seven enlisted men in the same setting made preference judgments among these composites. Multiple correlation was used to predict preferences for these composites from the job factor scale values obtained in phase one. Using beta weights and coefficients of determination of part correlations as criteria of importance, it appeared that type of work, followed closely by pay, was perceived as highly important in determining reenlistment, production, and job satisfaction. Co-workers and supervision, in that order, were seen as less important. Implications of the method and findings to the formation of personnel policy are considered. (Author)