Daily VideoApril 19, 2010
Does Money Motivate?
Classical thinking says that rewarding individuals with high pay will bring about the highest performance and buy the greatest talent; but new science says that may be outmoded thinking.
Some social scientists say motivating people with excessive salaries may have consequences, including limiting innovation, encouraging short-term risk taking and discouraging loyalty.
Author and former Al Gore speech writer, Dan Pink, says that non-material incentives, such as the opportunity to do good work or engage intellectually, may motivate people to think more creatively and solve more complex problems in the modern world.
In this latest installment of Making Sen$e NewsHour correspondent Paul Solman, talks to innovators in the field to see how people are motivated in the current markets.
“If you offer me a reward, $500 reward, you have my attention, absolutely. A contingent reward gets you to focus like this, narrow vision. If the answer is right in front of you, that’s terrific. You race a lot faster. But if you have this kind of vision for a creative conceptual problem, you’re going to blow it. You’re not going to do anything good.” Daniel Pink, author “Drive”
“We find that money often disrupts relationships. It disrupts customer efforts. And, sometimes, it makes the customer feel like a piece of meat, where you can’t trust the salesperson’s recommendations. And that’s a very slippery slope at that point.” Maury Weinstein, CEO, System Source
“You know, you need adequate compensation. You have to live. You have to survive, OK? But, if you ask an artist why they became an artist, a lot of them will say, I can’t do anything else. I have to do this. It’s the same thing here, you know? It’s the fulfillment, the love of doing it is reason enough.” John Yodsnukis, Open-Sourcer
Warm Up Questions
1. What motivates you to do good work? How do you know?
2. How does money motivate people in their daily lives? in their careers?
1. Does Dan Pink think material incentives have no effect?
2. Why does Dan Pink think we now need MORE than material incentives?
3. Are you more left or right brain? What’s your evidence?
4. When you think about your career, what do you want to be your motivation?
5. If you were a business owner, how would you motivate your employees?
Tooltip of related stories
Tooltip of more video block
Submit Your Student Voice
The Food and Drug Administration hopes to cut down on high rates of obesity and diabetes across the country by redesigning the labels that appear on food and drinks. Continue readingArts & CultureEconomicsHealthScienceU.S.UncategorizedWorld
Thirty-six years ago on Wednesday, Mount St. Helens in southern Washington state erupted, laying waste to more than 200 square miles of surrounding forest.Arts & CultureEconomicsHealthScienceU.S.UncategorizedWorld
Some 50 percent of all Muslim students in the U.S. have been bullied by their peers, surveys by the civil rights group Center on American-Islamic group suggest. Continue readingArts & CultureEconomicsHealthScienceU.S.UncategorizedWorld
As voters head to the polls in Oregon and Kentucky today, the Democratic and Republican parties continue to struggle with difficult realities.Arts & CultureEconomicsHealthScienceU.S.UncategorizedWorld
After becoming the presumptive Republican nominee, Donald Trump met privately with party leaders, including House Speaker Paul Ryan, on Capitol Hill. Continue readingArts & CultureEconomicsHealthScienceU.S.UncategorizedWorld