The new incentive

Beyond the sales target, the bonus, the salary. How to incentivise your team when you can’t just add zeroes to their salary, asks Simone Baird.

Great people are now picky. They’ve lived off, in some cases, literally no money for years. They know that they’re not going to own their own home. Their goalposts are different.

They’re also nimble in a way that most of us can’t begin to fathom: they don’t wait for training, they upskill. They don’t have interests, they have second, third or fourth jobs. They’re keenly aware of, and care about, social issues.

Great people know that they can, if necessary, start their own business. They can have different jobs or move into entirely new industry. That they can – and probably should – freelance on the side. Move to a different country.

Here’s a quick round-up of people considering just that.

  1. ‘No dickheads’ is a brilliant guide to building happy, healthy, and creative teams.
  2. Watch Dan Pink who, in this ace TED talk about incentives, explains the three non-financial motivators: autonomy, mastery, and purpose.
  3. And then read Dan Pink’s outstanding book ‘Drive: The Surprising Truth About What Motivates Us’.
  4. James Caan has written about trying something different to incentivise your staff.