Read this post today from the always interesting Incentive Intelligence blog. Just thought I'd flag it up as it ties in quite nicely with a post of mine from a couple of weeks ago about intrinsic and extrinsic motivation.
I agree with Paul on this one; as I've said previously the non-cash incentives are important but it is vital that you don't forget about the other side of things. Paul surmises it best:
The real answer is - cash and non-cash are both critical in creating an engaged audience. Neither is better. Neither is worse.
Traditionally organisations have been better at the cash part, making sure that salaries are in line with the market and so on, paying bonuses in times of plenty. So I see why the focus is (rightly) on the non-cash, intrinsic side of things. As with everything in life though it is about getting a good balance. Anyone with an interest in hiring and keeping superstars needs to have both sides of their brain working these days, otherwise they just won't be able to keep up.
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