TIP: Are you buying motivation?

Do you use money (bonus, raises) to buy motivation and productivity from your staff exclusively? Money can effectively juice staff performance, but that doesn't always keep them from fleeing the team.

Do you know what the real issue is? Your buying habits may be a result of not knowing enough about what gets your staff going: Is it the desire to excel in his/her line of work? The desire for ever-tougher challenges? Is it climbing the ladder? Is it freedom - operating according to their own rules and procedures? The freedom to balance their lifestyle with work? Is it job stability/security? Is it the need to create something of their own and run it? Is it the chance to focus on a particular cause? Buying can be a false substitute and an illusion.

What is your persistent buying saying to your staff? You try to golden handcuff them. Or worse, you block them from advancement. A real contribution would be to understand their career goals so you can be there for them.

Feed the soul as well as the wallet. You must figure out a way for your staff to archive their career goals. Buying their motivation only puts their future in jeopardy and making the problem worse.

Category: C++ Quant > Fix the Job You Got

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