Real-time rewards!

I haven’t met anyone that is NOT interested in making sure people that work for them are happy, motivated and genuinely pleased to walk into the doors of the office on a Monday morning. However, putting into practice, dedicating time and resources and training your managers are some of the major constraints to achieving the employee motivation nirvana.

Reading the book “Hooked” was very eye opening. I realised the mantra of designing a good product — Trigger, Action, Variable Reward and Investment — can apply to almost ANYTHING human beings have to process. So it got me thinking: Most companies have broadly the same framework when the approach employee motivation. Trigger (your boss telling you do the work, and how important it is), Action (actually doing the work), Variable Reward (end of year bonus, hi-fives etc), Investment (vested interest in making your company/boss look good).

Variable reward will probably get everyone’s interest and probably the area that needs rethinking for long term growth of your employees. Bonuses/promotions are traditional practices however they are introduced too late in the cycle of this loop. I always thought there must be a better way to introduce variable reward so that the loop does not take 1 year to complete. That’s where I stumbled upon Bonus.ly. One of my friends at an investment firm used it, and I was quite amazed at the positive reinforcement culture it created for him.

Built on Slack, with employer buy-in, you send $ rewards to your peers. They don’t have to be big. The idea is you get $500 every month to distribute (certain rules like you have to distribute to X amount of people apply). These rewards tie in with real world rewards (Amazon vouchers etc).