Nothing is about points and prizes any more.. The age old methodology of motivation, using monetary ‘carrots’ – such as perks or financial remuneration – has a weak exchange rate with today’s knowledge worker, for whom the most valuable currency is recognition.
As the Harvard Business Review explains: “Though necessary, these extrinsic motivators [perks, promotion, pay] don't necessarily excite people to work smarter or harder. Instead, they prompt employees to do only the minimum required to get that next raise or job title.
Incentives create a culture of entitlement, a ‘what-have-you-done-for-me-lately’ exchange. They can be a deterrent, as cited in studies by MIT, the London School of Economics, and Carnegie Mellon – all of which note that it is intrinsic motivators that yield positive returns.
During this 60-minute webinar, TemboSocial founder Steven Green will talk about the win-win that social recognition delivers to organizations. Steven will show that social recognition is not only far less expensive than traditional monetary rewards programs but has also proven to be more effective in engaging a motivating knowledge workers.
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