Rounding out my selection of holiday-themed content, here’s a new example of Slingshot-like thinking in HR policy making and the workplace. What kind of employer bonus or incentive do you think brings employees greater joy at holiday time? Surely a cash bonus, right?
According to an HBR report ‘prosocial’ bonuses, intended to be spent on charities or on coworkers, were more effective by several measures.
Giving your employees money, and the freedom for them to spend it on whatever reward they choose, might sound like the recipe for a happy and more productive workplace. But evidence from an array of scientific studies says otherwise. Individual rewards—ranging from pay-per-performance to bonuses—have been shown to be detrimental to employee morale and productivity.
And this year, at least one company in particular has taken to giving its top performing employees money to spend on anything they want for their colleagues.
Looking for creative inspiration for your business and your life in 2014? Why not treat yourself to my book, Slingshot: Re-Imagine Your Business, Re-Imagine Your Life.
[Image via Intuit.]