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 Democratic National Convention began on Monday amid protests from supporters of Sen. Bernie Sanders and calls for unity to back Hillary Clinton. Continue readingArts & CultureEconomicsHealthScienceU.S.UncategorizedWorld
While Clinton has topped the annual Gallup poll of “most admired woman” each of the last 14 years, a CBS poll last month showed nearly two-thirds of Americans say they don’t think she is honest or trustworthy. Continue readingArts & CultureEconomicsHealthScienceU.S.UncategorizedWorld
Born and raised in Queens, New York, to a family of privilege, Donald Trump grew up in a 23-room house and was driven to private school by the family chauffeur. Continue readingArts & CultureEconomicsHealthScienceU.S.UncategorizedWorld
Republican presidential nominee Donald Trump chose Indiana Gov. Mike Pence as his vice president, despite the two disagreeing on a number of political and social issues. Pence has served as governor of Indiana since 2012, and a member of the U.S. House of Representatives for 12 years. Continue readingArts & CultureEconomicsHealthScienceU.S.UncategorizedWorld
The 2016 presidential race has made teaching high school civics more difficult, particularly regarding some of the comments students have heard candidates make along the campaign trail. Continue readingArts & CultureEconomicsHealthScienceU.S.UncategorizedWorld