Bruno S. Frey Do Awards Yield Better Results in Enhancing Performance than Monetary Incentives?
© Unversität Basel
University of Basel (Universität Basel)Basel, Switzerland
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Monetary incentives, even though apparently efficient in driving performance of workers, have drawbacks, explains BRUNO S. FREY. They can result in a reorientation of workers from their focus on quality towards merely meeting objectives. The experiment presented in this video studies the impact of replacing monetary incentives with symbolic awards. The positive effect on the performance of workers highlights the potential of a well calibrated award environment. The individual’s needs for recognition and acknowledgement of efforts show to be key elements in boosting intrinsic motivation.
LT Video Publication DOI: https://doi.org/10.21036/LTPUB10177
Awards as Compensation
- Bruno S. Frey
- European Management Review
- Published in 2007
Awards at Work
- Susanne Neckermann, Reto Cueni and Bruno S. Frey
- ZEW Discussion Paper
- Published in 2012