The emotional bank account: you can make 100 fantastic deposits and then make one (small) withdrawal and it’s all back to zero. It is so very true.
The care we need to take as leaders and managers when it comes to sensitive issues and casual remarks is extreme.
Yesterdays post focused on how we treat people and pointed to setting and reviewing targets which will work for you and your team. Today it’s about money, or is it?
Myth three: It’s about the money
Please finish this blog then find 18 spare minutes in your day and view this video on TED. Daniel Pink is on the money (pun intended), and getting paid for it, partly for debunking a business myth about incentivizing using long held knowledge. Behavioural scientists and sociologists have long known the conditions which best influence ‘performance’, but the business world has largely chosen to ignore the evidence.
It’s not about the money.[pullquote]Money alone, won’t have excited and creative people turning up at your workplace, other than for interviews and Xmas parties.
Even Maslow’s experiments illustrated that the gain in performance was from paying attention to the team rather than anything else they could dangle in front of them.
You employ human beings. You lead a microcosm of a civilization and that takes numerous multifaceted and connected acts.
If they are not motivated don’t abscond by blaming ‘money’.
Myth four: It’s not about the money
In the long run some of it will be about the money. Unless you are absolutely the leading edge ‘awesomemost’ company to work for someone will cherry pick your better or best employees, with just a little more (or maybe a lot).
You can’t recognize great performance every week and be an average remunerator. Losing your best emloyees over a few thousand dollars is not good management. Besides if you really have the best the bottom line should show it.
Don’t have favorites and unreasonably divide the cake. You must be consistent and recognise the right things.
Don’t go straight down the line either; training, sponsorship of charities and other community support will all count, not all money is money in the hand. However if you are going to ‘spend it for them’ be careful where you tread. (see Myth 1)
The key is to stay in touch with those you employ.
- You motivate by listening with care and authenticity.
- You motivate by doing what you say you will do.
- You motivate by looking out for your team.
- You motivate by helping them achieve (all of) their goals every day.
Neither rest on your laurels because you pay well, nor relax because you treat your employees well, motivation is multi-faceted and you need to constantly check your bases.