SUMMARY. The traditional corporate approach to motivating people has been a combination of carrots and sticks: a system of financial incentives designed to mobilize everyone around a plan designed by a few smart people at the top. Multiple studies have confirmed that, for any work involving cognitive or creative skills, financial rewards do not drive motivation and performance. So, what does? According to former Best Buy CEO Hubert Joly, it takes several mutually reinforcing elements to create an environment that unleashes the kind of human magic necessary for a company purpose to take root and flourish. He presents six ingredients to create your company’s unique recipe for human magic.
Read the full article on the Harvard Business Review website.