Have you ever wondered what motivated people to do something? Whether it is staying at a job for a few decades, or donating their time and energy to a cause, or spending countless hours mastering something, some people seem to have a sort of drive that others don’t. Where does this passion come from, and how can you entice someone to go above and beyond what is necessary on a project or in a job? Well, there is actually a science to this and the peeps at RSA Animate put together a 10-minute video explaining why financial or monetary incentives don’t always work for employees.
The old modality of reward vs punishment actually doesn’t work for a lot of people. In fact, it can have a reverse effect on those working in an organization. Many companies offer monetary incentives to high-performing employees, and while these incentives may work for specific jobs, they actually can have a negative effect on others!
This is one of my favorite videos based on economists’ research from MIT, the University of Chicago and Carnegie Mellon. If you are in human resources or are having issues finding the right person for a specific job, this could be why! Check out this 10-minute video by RSA Animate!