April 11, 2006

News & Opinion: Money as a Motivator?

By: Dylan Schleicher @ 7:07 PM – Filed under: Management & Workplace Culture

The question of the week directed towards Jack and Suzy Welch is:

In our business, the biggest challenge we have today is motivating our people. What's the best way to do that?

*From BusinessWeek's March 27, 2006 issue
Beyond money, they have four suggestions:
  1. Recognition

    Recognize people's achievements. Highlight them. Announce them. It lets people know their efforts are appreciated and makes them work harder for future recognition.

  2. Celebration

    Celebrate the victories along the way. It doesn't have to be a huge, blow-out celebration. As Jack and Suzy say, it can be as simple as tickets to a ball game (and with baseball season now in gear, what could be a better idea?)

  3. Create a mission

    Create something that everyone adheres to and sets their compass towards. The best creation processes incorporate everyone's input to develop a good mission.

  4. Balance achievement and challenge

    People want to accomplish their goals while still knowing that there's room to grow. They need achievements as must as they need new challenges.

About Dylan Schleicher

Dylan Schleicher has been a part of the 800-CEO-READ claque since 2003. Even though he's stayed on at the company, he has not stayed put. After beginning in shipping & receiving, he joined customer service and accounting before moving into his current, highly elliptical orbit of duties overseeing the ChangeThis and In the Books websites, the company's annual review of books and in-house design. He lives with his wife and two children in the Washington Heights neighborhood on Milwaukee's West Side.