Studies by experts have shown, for rudimentary cognitive work, say something mechanical, like job-work – incentives work very well.
|
The cadence as well as the recognition can be directly tied back to certain measurable achievement.
|
Large organizations use this with a ‘bell-curve’ approach which really is just a method of rationing and not really a method of incentivizing.
At Prequate Advisory, most new recruits are a little surprised that we don’t have an incentive policy.
|
Their offer letters do talk about an incentive, but it’s usually blank.
|
Why?
|
Speaking purely from the perspective of knowledge work involved in consulting, it seems far-fetched that individuals will be motivated by a reward that you work towards every day but accrues once a year.
|
So, what do we do instead?
Our foundational belief is that ‘personal excellence’ should be rewarded with an improvement in your lifestyle - everyday.
|
This could mean a higher pay every month or it could mean something you dint imagine but dramatically improved your quality of life.
But this in isolation also doesn’t work.
|
The biggest reward we strive for is that ‘every individual is a leader in his own right’.
|
Everyone knows and works towards a level of mastery in every work area they work on.
|
That they find purpose in just being highly effective as a solid business partner to every founder.
|
Because at the end of the day, when people become leaders, it doesn’t stop at the corridors of the office.
I highly recommend reading Drive by Dan Pink.
|
It changed my views completely when I did.
What do you think?
Do you have a contradictory opinion?
Comments