What if you knew exactly how you were doing at work? What if your goals, bonuses, performance reviews, successes and failures were all available not only to you but to everyone in your company? How would you feel? Nervous right? Scared or anxious?
This is what happens at the worlds top hedge fund - Brightwater, run by Ray Dalio, and he attributes his success to the system.
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'Motivation' is a tricky topic, mostly because we are all motivated differently. For example, we know that money isn't the only way to improve employee engagement and that giving people extra money can actually harm morale. The reason for this is that by giving someone money in direct response for work done suggests that there is a clear monetary value to be placed on their efforts and that you have rewarded them accurately. Obviously, this leaves more than a little room for disagreement.
On top of that, the next time you aim to financially reimburse someone for their hard work, they will ask themselves, 'how much do I get this time'? Or maybe even worse 'is this extra work really worth the money?'.
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