Can we get people to work harder and perform better if we make their pay performance-related - e.g. with performance bonuses or commissions? Does this work? Are individual or group incentives better? What does the evidence say? We know that people respond to incentives, but, as Gene Tunny and Tim Hughes discuss this episode, getting those incentives right can be tricky.
Can we get people to work harder and perform better if we make their pay performance-related - e.g. with performance bonuses or commissions? Does this work? Are individual or group incentives better? What does the evidence say? We know that people respond to incentives, but, as Gene Tunny and Tim Hughes discuss this episode, getting those incentives right can be tricky.
Please get in touch with any questions, comments and suggestions by emailing us at contact@economicsexplored.com or sending a voice message via https://www.speakpipe.com/economicsexplored.
IZA World of Labor - Performance-related pay and productivity
How group-based incentives increase worker performance | CEPR
The Use of Reward and Incentive Systems: A Case Study of McDonald's - ToughNickel
McDonald's Restaurants puts motivation and reward at heart of business strategy - Employee Benefits
Performance-related pay | The Economist
Real Estate Agent Commissions: How Does it Work and How Much Should You Be Paying
Learn the Truth About Real Estate Commissions | PropertyNow
Thanks to Obsidian Productions for mixing the episode and to the show’s sponsor, Gene’s consultancy business www.adepteconomics.com.au.
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