Adonis Diaries

Posts Tagged ‘value of money

How Bonuse systems destroy Motivation in employees?

Wolfenschiesen is a Swiss village in the center of the country. It was selected to store radioactive waste.

About 51% od the inhabitants were in favor of the proposal for various reasons, including the prospect of new jobs.

When researcher Bruno Frey mentioned a hypothetical reward of $5,000 for each town person, paid by the Swiss tax payers, those in favor dropped to 25%.

What of the problem of late parents coming to pick up their kids at closing time? As the day care center introduced a”late feetardiness increased: Parents were willing to pay the fee and delay the pick up arrival from work.

Apparently, a certain level of monetary incentives crowd out other types of incentives.

When people are willing to do a good deed, payment throw a wrench into the work.

Small and modest payment to NGO activists increased the motivation of the members, until a substantial bonus system encouraged teams to snub tasks that bring no extra rewards.

For uninspiring jobs such as bankers, insurance agents, financial auditors… financial motivation work wonders: What else could motivate people who are not that proud or enthused of what they are doing?

If you want your kids to do their homework, practice their talents every day, mow the lawn one a week… just give them a fixed amount of pocket money each week.

Any reward for each tasks will ruin the system since people believe that they are not For Sale.

Pocket money each week initiate the kid for saving his money and appreciating the value of money and the object he purchases.




October 2021

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