This is probably the worst point of view I've ever seen on the topic of burnout. Let's get one thing out there: Money doesn't make people motivated or happy. It's a condition of employment. Either employees gets enough money, or they don't. It is very, very binary.
Throwing money at an employee acts as a temporary cushion, a bandaid. A bonus will be forgotten within days or weeks, a raise within a month or two. This is not to say that employees never deserve raises. Employees who take on more responsibilities, or have acquired more experience definitely deserve a higher pay.
Motivation is the only true variable that managers can influence on, and the only one that truly matters. Motivation is like a sea/ocean upon which the employee sails, not unlike a boat. The obstacles, and blockers that employees face are like rocks under the water level (to keep with the metaphor, because the keel would strike the rocks). As a manager, you have two options. Take a pickaxe and try to move those boulders/rocks out of the employee's way, or add more water.
In this metaphor, the boulders are typically personal blockers ("I'm a C++ dev, I don't want to work on that Node piece of shit", "I start at 7, so I don't see why I would have to join a meeting at 4PM", "I worked until 3AM yesterday, which is why I wasn't there at the team meeting at 11AM", etc). You can try to remove the boulders, but that's closer to psychotherapy that takes 15 years, which is usually out of the realm of possibilities for a manager and a company. What a manager can do, however, is help the employee feel more motivated.
This is where extra holidays in lieu, making people feel part of a team, and feel ownership/responsibility for the team, and other "soft" things plays its part. Yes, you can try to tell an employee that you'll give him an extra $200 if they stay late and fix a bug, but that just shows that motivation is coming from the wrong place.
Monitoring how much motivation an employee has is the #1 job of a good manager. People who burn out are usually badly managed, or operate in a toxic environment. A good manager can't (always) fix a bad environment. He can improve certain aspects of it, though.