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Money Doesn’t Motivate
If you pay employees more money, will they do what you want? According to Drive author Daniel Pink, the answer is, “no.” In fact, he suggests that “a larger reward [money] leads to poorer performance.” In this video, Pink explores “The Surprising Truth about What Motivates Us.”
If your responsibilities include leading and motivating people, formally or informally, you can’t afford NOT to watch this video. It covers some crucial contrary-to-popular-belief ideas on how to motivate employees and get maximum contribution from each person. This is a key function of my role at Mudd Advertising and this video has shaped and driven my entire approach in motivating people to do what this company needs them to do.
There are two points in particular that should mold your approach:
- At about 1:50 Pink says, “As long as the task involved used only mechanical skills, bonuses worked as expected. Once the task called for even rudimentary cognitive skills, a larger reward led to poorer performance.” By about 4:50, you’ll see Pink suggests that if a task requires problem-solving, creative thinking or conceptual ideas, increased compensation as a motivation simply doesn’t work. Nearly all the work we need from our teams in a service-industry require that exact type of thinking. So how will we motivate them if money doesn’t do it?
- Starting at about 5:05, he starts discussing three factors that lead to better performance: Autonomy, Mastery and Purpose. This point should significantly influence the way you structure and set expectations for your team. Pink provides examples of companies who have implemented these strategies and seen significant success. How are you creating opportunities for your employees to direct themselves, get better at something or have a purpose?
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