Explains why organizations preoccupied with control do not do well.
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The main functions of money are distinguished as: a medium of exchange, a unit of account, a store of value, and occasionally, a standard of deferred payment.
It does not and should never denote a persons’ worth. It simply becomes a distraction initially, then ultimately it becomes the only reason and motivation.
I think this relates to people who go into business for themselves. They spend far more hours being self employed and maybe even make far less money. But I think its the fact they are doing it for themselves is the key.
That has to be the big motivator. Doing it for yourself rather then feeling your doing it for a boss or a company.
I’m with Bobbo on this: “Anybody know what the ‘creativity task’ was that failed on higher compensation? Video was totally vague there.”
His summation of the study results didn’t ring true. I agree that money fails as a motivator of creativity, but he implies that promises of monitary reward has the opposite effect, that it inhibits creativity … which is absurd. Do you really think that those people donating their work to Linux would stop if they recieved a check in the mail as a reward for their effort?
It’s being told where to apply your creativity that fails; which is why the old Bell Labs was such a huge success. “You look like a bright lad. Here’s a paycheck, laboratory, and a budget… give us a research proposal and we’ll check back every few months to see how your project is coming along.”
This is Dan Pink. He provided more detail in his TED talk on this topic last year.
http://ted.com/talks/lang/eng/dan_pink_on_motivation.html
Interesting. There’s no mention of WHY people didn’t perform well on creative/cognitive tasks when offered the largest amount of money. The speaker goes on to purport (through a variety of examples) that creative work occurs spontaneously for free when given the chance, implying that people simply didn’t “care” about the money. But maybe they did–too much–so much that they stressed themselves to the point of not being able to perform under that amount of pressure. Basically, classic performance anxiety. The way the speaker explains it, he makes it sound as if NONE of the people who were offered the largest amount of money performed well, but it’s more likely that as far as group experiments go it was just the lowest percentage of people in all 3 groups to receive the money.
If they had simply monitored for CRF release during the experiments, stress levels could easily be measured. Or maybe they did, but the speaker negated to include that information.
Congrats to those of you who just figured this out.
This study means nothing, by the way.
The reason it means nothing is communism and capitalism can’t co-habitate.
Communism is a failed system.
Capitalism is a system on the verge of failure ($15 trillion in debt, dysfunctional corporations looting the USA, dysfunctional political system catering to dysfunctional corporations to aid and albeit corporational gutting of USA, inept governmental organizations).
You can’t mix communism and capitalism. If you can you are the first alchemist.
Don’t forget that giving away your work screws the government — they can’t tax it. It is the ultimate FU to the system. They can’t even regulate it. It is LOL funny.
I’d say more but in the absence of an economy, it doesn’t mean the absence of creation … just the absence of a taxable one.
It’s fun to mix creation knowing it helps destruction of failed political system by being untaxable and unregulatable and making the world a better place.
#3 FTW
#6 Fail
People will still switch jobs for better pay, no matter how much they are paid, unless they love what they are doing. For most jobs, people are never going to love what they are doing. Only about half the jobs out there require any real cognitive skills.
This video applies to keeping people happy once they are in the workplace and earning enough money. If they are job hunting or not content and work, money is still king.
Good video- interesting stuff.