Save your business a packet – Motivate without money

A Common Purpose

The three keys to a high performance and engaged team:

  1. Autonomy
  2. Mastery
  3. Purpose

It's not about the money

Here are three examples of world-leading organisations that have been hugely successful with no financial incentives whatsoever, not even a salary:

  • Linux, the operating system that powers 1 out of 4 servers in Fortune 500 companies,
  • Apache powering over 50% of web servers, and
  • Wikipedia

* to learn more about how financial rewards may do the opposite of what you expect and the alternative, click here to watch 10 minute clip by Dan Pink, an authority on motiviation.

Save your business a packet
motivate without money

Most companies incentivise their staff to achieve important objectives for the company.

In many cases this money is completely wasted.
Not only does the money not improve performance, in some cases it actually makes the performance worse.

Isn’t that unbelievable

There is lots of research that shows that tasks calling for even a rudimentary cognitive skill such as in complex tasks and being creative, a larger reward leads to poorer performance*.

Let me say that again.

There is considerable evidence that higher incentives lead to worse performance.

What’s the alternative to wasting your money?

Here are some ideas to include in a new approach to the way you employ people.
Give them:

  • more autonomy,
  • the opportunity to develop a competence and
  • a sense of purpose

These are keys to motivating and developing highly productive people.

Still don’t believe?
See the side bar for more information

Does your Board talk about strategic issues such as this?

There are big changes afoot in the current economic climate.
Doing more of what you’ve done before is no longer good enough. Successful businesses question every aspect.

Reinvigorate your Board meetings.
Bring in some objective and professional expertise.
Develop some exciting new plans.

For more information on how I and my colleagues can help you to get your business up to the next level, contact me.

Call me to chat through how your Board can be pro-active in this area.
I'd love to hear about your business.

Nick Winton