I haven’t gone crazy.
The point for today is that money is not the be all and end all of motivation. If you haven’t read the last three day’s posts please do.
A lot of companies get this wrong!
We all work for money! This is a given.
However – so many of us incentivise or try incentivise using additional money in the form of bonuses or rewards.
You see the problem with this is that people are already doing their job for pay. By adding this incentive you are now bribing them to work harder to hopefully get some more money.
Where this can and does work in the short-term; the long term effect is actually negative.
People will start to question why they are doing what they are doing and not getting paid more for it like previously when they were asked to meet a deadline – this can actually lead to a decrease in productivity!
As we are social beings and have needs of being acknowledged and appreciated – a kind word, continued praise and public acknowledgment can more often than not increase productivity and output as well as keep the levels maintained far more than money (or bitcoin!)
Do not bribe people – motivate them through acknowledgement and appeal to their desires of being included as an integral part of your team.
You will save cash, time and have a happier and more productive workforce.
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