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A lot of companies with genuinely positive intentions try to add temporary monetary incentives in order to induce employees to adopt good practices. However, these often fall flat and instead rebound back once the contractual period gets over. This is because a lot of employees consider the positive intent as greater and so monetizing it feels an undervaluation. Or it can also be the other way round where once the minimum financial agreement gets over, employees lose the interest. This failure is known among academicians and management consulting experts as the crowding-out effect. Instead, peer pressure works much better. The moment, team members organically imbibe these traits, a certain pressure is exerted on the others to follow suit.

Source:https://hbr.org/2017/03/incentives-dont-help-people-change-but-peer-pressure-does? 

Uploaded Date: 30th March 2017

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