http://geniusone.com/blog/is-money-really-everything/ Since two decades author and leadership consultant Frank Kanu helps top managers and executives to improve success ratios and productivity. Tue, 02 Dec 2008 05:01:59 +0000 http://wordpress.org/?v=2.3.1 http://geniusone.com/blog/is-money-really-everything/#comment-3095 Coleen Davis Mon, 18 Sep 2006 19:25:06 +0000 http://geniusone.com/blog/is-money-really-everything/#comment-3095 Money can be a motivator for some people. More often, it is a demotivator. Suppose that you have $1000 for a reward when a project is finished. If there are 10 people on the team and they've spent a lot of personal time making the project happen, a reward can be very appropriate because it motivates them and others. How motivating is $100/person going to be in this situation? I've seen many cases where this, or something similar has happened. It led the employees to leave, rather than to stay. Rather than giving the employees the money, one might get a better result by taking the people out to a very nice dinner, recognizing them publicly, or providing them with personalized letters from the chairman of the company. Flowers, balloons, cookies, and other things gifts can also motivate employees. It seems to me that the key is to understand the individuals and what they care about. Motivation is specific to each person.
Suppose that you have $1000 for a reward when a project is finished. If there are 10 people on the team and they’ve spent a lot of personal time making the project happen, a reward can be very appropriate because it motivates them and others.

How motivating is $100/person going to be in this situation? I’ve seen many cases where this, or something similar has happened. It led the employees to leave, rather than to stay.

Rather than giving the employees the money, one might get a better result by taking the people out to a very nice dinner, recognizing them publicly, or providing them with personalized letters from the chairman of the company. Flowers, balloons, cookies, and other things gifts can also motivate employees.

It seems to me that the key is to understand the individuals and what they care about. Motivation is specific to each person.
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