Why Increased Pay And Bonuses Won't Keep You Motivated

Whilst the politicians keep talking about clamping down on huge financial incentives in response to the financial crisis, many banks and other corporations contend that large financial incentives are required to attract, engage and retain people.   

But as Dan Pink shows us in his recent appearance at the TED Talks,  pay and financial rewards are not the most effective way to engage and motivate employees. They never were in the past, and certainly won’t be in the future.  To engage and motivate people in the future, organisations will need to take a very different strategy.

To motivate people in the 21st century organizations need to focus not on financial reward, but instead on helping employees achieve: 

1. Autonomy

2. Mastery

3. Purpose

As usual with Pink, his ideas are based on solid facts and scientific research - click here to see the YouTube clip of the talk. 

So tell me, is he right? Is what Pink has to say consistent with what motivates you..?

By Sital Ruparelia

 

Comments

[Jonathan Hyland]

I couldn't agree more. I get more excited about new training offerings and development opportunities that my company offers than promises of fat bonus checks tied to how many sales I make.

[Melissa]

With all the years I spent in nonprofit management, it definitely was about "get[ting] better and better at something that matters" and serving a purpose that went beyond my personal gain. There's nothing that can replace the feeling that you have made a difference for someone else or that you possess a special talent that the organization recognizes and appreciates.

I wrote a commentary on Dan Pink's TED Talk a little while ago, as well:

http://rodneysjobquest.wordpress.com/2009/09/22/show-me-the-money/

[Sud]

sometimes it happens, when you are not taking interest in the jobs. but not happens all the time. But good article and new thoughts.