Bonuses are Bollocks, stop wasting your time paying them

Money is not an issue once you earn enough to be comfortable......or rather it becomes a different issue.

It's not money to them (them being footballers, bankers, CEOs or fcuking wonks) anymore. It's a social marker. It will always drive ever upwards as the individuals in high-paying industries seek to outdo each other. We know where this goes: football clubs that are ready to collapse despite being at the peak of their international popularity. A banking sector which took unacceptably risks and brought the world economy to its knees.

The research all points away from financial incentives. Instead it suggests that employees need three things: autonomy, mastery and purpose. The need to self-improve is what motivates really talented people. If you don't believe that, take a look at the free-to-use software made by engineers. Look at the success of Linux, or Apache, or Wikipedia, as highly-skilled workers use their free time to make something which is then given away.

Bonuses do not improve performance. They worsen it. The banking sector's track record is the proof which defeats its own arguments.

and Performance and Productivity are what we need if we are to compete with the eastern economies determined to drag themselves out of the mire their rotten backwards ways got them into back in the 1700s.

Politics.co.uk