It’s a tricky question.
Do bonuses & cash rewards keep employees happy? Or is there a better way to motivate employees?
Reward Schemes for Routine vs. Non-Routine Roles
Bonus schemes may motivate employees depending on whether their role is routine or non-routine. Factory jobs are often routine – they may not require a lot of initiative. The same may be true for certain basic administrative roles.
More and more jobs in our economy, however, are non-routine: creative jobs, engineering jobs, marketing and sales jobs, etc. These jobs often require creativity, expertise, and self-motivation.
In his fascinating book Drive, Daniel Pink argues that reward schemes [Read more…]
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