“Never, ever, think about something else when you should be thinking about the power of incentives.” – Charlie Munger. The most valuable asset of any organization is unarguably, its people. And all these people, being human, are motivated by what intrinsically drives them. By understanding this drive and targeting an incentive structure that brings harmony to the professional satisfaction of the employees as well as the objectives of the company, we can achieve a win-win situation.
We want to navigate the complex topology of incentive structures, and how a corporate culture can influence and be affected by the power of incentives. In this talk, we will discuss how we can understand motivation at a deeper level and use that to create a pleasant and fulfilling professional atmosphere, while staying more on course to achieving the organization’s goals.
Using real life anecdotes from our own experience as consultants in the industry for over a decade we will show the value of investing in a well thought out incentive structure that not only attracts and keeps highly skilled talent, but also helps achieve company goals.
* What are incentives and why is it important? * Are you incentivizing the right thing? * Other than $, what are the other options? * Beyond incentives
* As an employee, how can you align your intrinsic motivations with what incentives you are being offered * As a member of middle management, what are some non-financial incentives you can start practicing with your team members to get them to their maximum potential * As a leader, how can you take a fresh look at your current incentive structure and what are the questions you should be asking.