Management 3.0 Module: Rewards & Incentives

How do you create motivation that's real?

How can we incentivize performance? How can we reward people for work they’ve done? More importantly, how do we increase intrinsic motivation, not that unreliable extrinsic motivation that rapidly fades away.

“Do rewards motivate people? Absolutely, they motivate people to get the rewards.”
Alfie Kohn in Punished by Rewards

rewardsandincentives_slide4_fish-01There’s no doubt we have a lot to do to change incentive programs because they do nothing to incentivize creativity or innovation. And tying rewards to since accomplishments or numbers does not improve overall performance.

But we still want to reward our teams. And motivate them!

The Rewards & Incentives module is focused on understanding the difference between intrinsic motivation and extrinsic motivation and how to exploit the first. It teaches us how to relate people’s work and roles to purpose, mastery and freedom.

rewardsandincentives_slide16_giftexchange-01Six Rules for Rewards

  1. Don’t promise rewards in advance.
  2. Keep anticipated rewards small.
  3. Reward continuously, not just once.
  4. Reward publicly, not privately.
  5. Reward behaviors, not only outcomes.
  6. Reward peers, not only subordinates.

These six rules for rewards make your next reward scheme motivational and easier because it focuses on the small.

What Management 3.0 Practice checks off each point? Why Kudos of course! This is an easy way to offer small rewards based on public peer-to-peer-recognition.

 

This is just a glimpse of one of the new modules in Management 3.0 workshops. At the actual workshop, you’ll work with your peers to come up with new rewards models and to share stories of what you’ve learned. You’ll also learn about Merit Money and how you can take rewards and peer-to-peer recognition to the next level.

Can’t wait until the next workshop? You can start your learning and experimentation by reading Managing for Happiness.

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