Beyond Cash Incentives: What Behavioral Science Can Tell Us About True Motivation
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Rational economic theory might have us believe that cash is the king of all motivators. More money equals more effort, right? A deeper understanding of human behavior however, reveals surprising insights into what truly motivates us to give it our all in the workplace. Grounded in social psychology and behavioral economics, this talk on behavior and motivation will help us shift our perception of incentives, from transactional to emotional, identifying actionable insights for ultimate salesforce motivation.
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Beyond Cash Incentives: What Behavioral Science Can Tell Us About True Motivation
- 1. #AccelerateQTC Charlotte Blank May 3, 2017 Beyond Cash Incentives: What Behavioral Science Can Tell Us About True Motivation
- 2. Chief Behavioral Officer, Maritz Charlotte Blank
- 4. “Everybody needs money. That’s why they call it money.”
- 5. Applied Behavioral Science Experimental research to uncover what really works
- 6. We’re all counting on you! Please…wash your hands. Gallani, 2016
- 7. One more time… with pizza!
- 8. How do we design for true motivation?
- 9. Acquire relative value Acquire Connect with others Bond Make a difference Create Protect what’s mine Defend Based on the work of Paul Lawrence and Nitin Nohria at Harvard Business School ©2017 The Maritz Institute. All rights reserved. Address all four primary drives of human behavior STATUS RELATIONSHIPS OWNERSHIPMASTERY
- 11. Sales people are willing to sacrifice $30,000 for President’s Club recognition Larkin, 2009“Paying $30,000 for a Gold Star”
- 12. “Feeling Superior” Dreze & Nunes, 2008 “STATUS” “STATUS” More elites in top tier Adding a subordinate tier Status laden labels “STATUS”
- 13. The Silver-Medal Effect: Upward counterfactuals make second place painful Medvec et al, 1995
- 15. Social Norms vs. Market Norms Gneezy, 2000
- 16. Social Proof Goldstein & Cialdini, 2008 % Recycling Towels
- 17. “Selfie Value”
- 18. The pursuit of mastery Create
- 19. Reference Dependence: Performance is relative too! Allen et al, 2014
- 20. Goal Gradience: Urgency and effort accelerate when we’re approaching a goal Hull, 1932; Kivetz et al, 2006
- 21. Endowed Progress: Granting a bonus headstart enhances motivation toward a goal Nunes & Dreze, 2006 19% 34%
- 22. Ownership Defend
- 23. The Endowment Effect: We ascribe more value to things we own, merely because we own them Ariely, 2008 Basketball ticket raffle WTP: $170 WTA: $2,400!!
- 24. Upfront teacher bonuses increased student performance 11% Fryer et al, 2012
- 25. The Free Trial
- 26. Cash is crucial Unfair pay is a non-starter Beware of crowding out intrinsic motivation Tap intrinsic motivators for “above and beyond” effort Remember… Test and Learn Behavioral Design Design for all Four Drives… • Relative status • Social dynamics and recognition • Goals that promote mastery and show progress • Endow participants upfront for “skin in the game”
- 27. SURPRISE!!!
- 28. Intermittent Reinforcement: We love positive random rewards (aka Surprise & Delight!) Skinner, mid-century
- 29. Congratulations, from your friends at Maritz!
- 31. #AccelerateQTC Charlotte Blank May 3, 2017 Beyond Cash Incentives: What behavioral science can tell us about true motivation
Editor's Notes
- Feeling Superior: The Impact of Loyalty Program Structure on Consumers’ Perceptions of Status - We study status as it pertains to loyalty programs, investigating the impact of the number and size of tiers on consumers’ perceptions of status. We find increasing the number of elites in the top tier dilutes perceptions of status while adding a subordinate tier enhances status. Tiers below the second tier do not impact those at the top, but can make those in the tier immediately above feel more elite. Given the choice between alternative programs, those who do not qualify for status prefer hierarchies with multiple tiers. Finally, we show that status-laden labels (gold and silver) on their own signal an increasingly selective hierarchy.