1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

Why Money Doesn't Motivate Better Performance!

Discussion in 'BlackHat Lounge' started by The Scarlet Pimp, May 28, 2010.

  1. The Scarlet Pimp

    The Scarlet Pimp Jr. VIP Jr. VIP Premium Member

    Joined:
    Apr 2, 2008
    Messages:
    788
    Likes Received:
    3,120
    Occupation:
    Chair moistener.
    Location:
    Cyberspace
    This is very true! I used to offer $1,000. to my affiliates and the stupid mofos still wouldn't get off their shiftless rears long enough to send me a sale!

    One woman told me she wasn't interested because she was, "praying to god that she'd win the lotto so her money problems would be solved."

    Wonder how that one worked out..... :eek:


    Why Money Doesn't Motivate Higher Performance

    One of my blog readers ? Boaz Fletcher ? sent me a video this morning from RSA Animate. It's 11 minutes long and is a fascinating lecture by Dan Pink about The Surprising Truth About What Motivates Us.

    In this case Pink takes on the question of "Does More Money Motivate Higher Performance?" In the first few minutes he shows that while this works for tasks requiring mechanical skill, this does not work for tasks that require even rudimentary cognitive skill.

    In fact, in these cases there is an negative correlation between greater monetary reward and increased performance. It's counter-intuitive, but the talk illustrates it beautifully with several examples that will appeal to any technology entrepreneur.

    There are several deeply insightful points including the notion that we crave autonomy and mastery in addition to simply making a contribution and getting rewarded economically for it.

    Furthermore, if the "profit motive" gets unmoored from the "purpose motive", bad things happen.

    Ultimately Pink makes a good case that as managers and entrepreneurs, we need to get past the ideology of using carrots and sticks to motivate people.

    Grab 11 minutes and learn something important today.

    http://www.businessinsider.com/why-money-doesnt-motivate-higher-performance-2010-5
     
    • Thanks Thanks x 2
  2. Jcsarokin

    Jcsarokin Power Member

    Joined:
    Mar 2, 2009
    Messages:
    718
    Likes Received:
    1,015
    Location:
    Los Angeles / Beverly Hills
    Praise is the #1 motivation tool.
     
  3. tygrus

    tygrus Supreme Member

    Joined:
    Mar 28, 2009
    Messages:
    1,237
    Likes Received:
    827
    Occupation:
    Engineer
    Location:
    Canada
    In general, most people on the planet are lazy and don't want to work at all, especially for someone else, so everyone has their own threshold of what effort they will put in for the pay and usually its minimal.

    Money is nice, but its extra nice if its come by easily.