Flipping through the July Special Report of Money magazine, it’s hard to miss the glowing Carrot on page 21. Tyler Cowen, professor of economics at George Mason University, has written an article that says to get your people working harder in this economy you’ve got to “dole out cheap carrots.”
Professor Cowen states, “Offering bonuses for superior performance works, but that’s not an option when your budget has been cut to the bone.” He cited a study by Kaisen Consulting, showing employees actually ranked “financial reward” as only No. 6 in a list of work motivators. “Far more important,” Cowen notes, “recognition and a sense of accomplishment. So ladle on the praise for a job well done.”
Well said professor.
The doctor also doled out some other advice to get your people to give their all. First, he said you must roll up your sleeves yourself. Next, he reminds us to create a sense of urgency with measurable goals and specific deadlines. And finally he says we must treat our people fairly.
While I agree with the idea that unfair treatment breeds resentment, I do question Cowen when he recommends we “fake” the “love” for employees we don’t like. I have 14 people who work in my group, and I can honestly say I like them all. When we have someone we don’t get along with on our group, there’s usually an underlying problem in communication and trust that must be addressed. I think a “fake it” approach puts our heads firmly in the sand.
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