Incentives >>> Money
When I started thinking about Geek Incentives I conflated incentives with money. How could you use money in less-disruptive ways than it was used currently? It took me a while to realize I had to back way up.
One inspiration for this wider view of incentives was economist Russ Roberts, host of EconTalk. One of the central themes of economics is “incentives matter”. Adam Smith in The Theory of Moral Sentiments says, “Man naturally desires, not only to be loved, but to be lovely.”
“Incentive” then is any influence causing us to change marginal behavior. Yes, it can be money, but it can also be entirely intrinsic, like the satisfaction of a job well done, or it can be social, like recognition and belonging.
More, much more, about this topic in the coming weeks and months. But we ain’t talking about money.
If you're reading this real-time, remember my conversation with the inimitable Keith Adams on the topic of Geek Incentives tonight (Thursday, 18 February 2021) at 7 PM Pacific. https://joinclubhouse.com/event/xVBrn1jx
I know someone else has mentioned this, but I've been working for the past few years to align my management style and incentive systems around people's need for Autonomy, Mastery and Purpose. Also, some time ago I became a fan of "First, Break All The Rules," and the 12 questions to measure employee engagement. I don't know how to scale it, but for a team or small department, I can ensure that 1) people are fairly compensated; 2) I understand them well enough to align their work with what the company needs in a way that helps them achieve A, M, & P; and, 3) I focus individual planning and 1-1 sessions in ways that leverage the 12 questions to ensure everyone knows they're getting as much support as I can provide for their success and well-being.