From Nathaniel Fick’s One Bullet Away, and a reminder that incentives function in all kinds of ways. Yes, incentives are financial but that’s just part of the whole.
In his book, No Rules Rules, Reed Hastings notes that the best performers don’t work 5% harder after a 5% raise. Instead, the best performers work harder when they work on hard problems with other hard workers.
Incentives are the ‘internal funnel’. What kind of person do we want here?
There’s no answer but there are reward options. Put on your JTBD hat, and think of the decision train. Forget the engine, what people say. Forget the caboose, what most people think. Talk and talk and talk to find the destination where people want to end up. It’ll be a mix of colleagues, money, problems, commutes (to the right person), and more. Tinkering with the mix will bring in people who best match your problem.
And if in doubt, just find a Marine.
Good luck Spencer.
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