The Ford Motor Company, the greatest and most successful automobile manufacturing company in the world, will, on January 12, inaugurate the greatest revolution in the matter of rewards for its workers in the industrial world. At one stroke, it will reduce the hours of labor from 9 to 8, and add to every man’s pay a share of the profits of the house. The smallest to be received by a man 22 years old and upward was $5 a day.
Steel workers were then paid $1.75 for a 9 hour day. This was earthshaking.
The latter-day robber barons are discovering that better conditions and rewards for workers pay off in a world where consumers increasingly demand ethical standards.
Customers are using BetterWorks in a number of creative ways to reward and incentivize employees.
The bonus is really one of the great give-aways in business enterprise. It is the annual salve applied to the conscience of the rich and the wounds of the poor.
Money and salary is not a particularly good motivator in the long term.
You can't buy the loyalty that ESPN has showed to me.
We started paying everyone 100% bonuses. We removed any sort of performance management system where you put down your goals for the quarter, or the year, then try measuring against those goals because when you are dealing with innovation, that has no meaning.
When I arrived at IBM, there were 'Team' signs all around. I asked, 'How do people get paid?' They told me, 'We pay people based on individual performance.'