Published on Dec 11, 2016
We shouldn’t have to be told that people’s hearts and souls are not piñatas, and yet here we are. Duke psychology professor and behavioral economist Dan Ariely says when it comes to increasing motivation, there’s a precursor lesson many managers, teachers and parents miss: stop crushing spirits. Ariely’s latest book is “Payoff: The Hidden Logic That Shapes Our Motivations”
Notes From Schwarzman, Sternlicht, Robert Smith, Mary Callahan Erdoes, Joseph Tsai And Much More From The 2020 Delivering Alpha Conference
The following are rough notes of Stephen Schwarzman, Steve Mnuchin, and Barry Sternlicht's interview from our coverage of the 2020 CNBC Institutional Investor Delivering Alpha Conference. We are posting much more over the next few hours stay tuned. Q2 2020 hedge fund letters, conferences and more One of the most influential investor conferences every year, Read More
Video below followed by more on the book
Transcript – So the first lesson is don’t kill motivation. You know businesses are often not about just increasing it, it is by stop decreasing it. I’ll tell you a story I gave a talk at a company in Seattle a few years ago. It’s a big software company and I was giving a talk and I was in this room with 200 really depressed engineers talking to them. It turns out they were working on whatever the next version of the – they were working on something really important and big for that company and the week before I showed up the CEO of the company came to them and canceled the project. And they were incredibly devastated. This was a group that worked for two years on something that they felt would be the next great thing for that company and the week before he just canceled it. And they did not show up on time. They were just devastated. They were just morally devastated and by the way after that many of them just left the company. They were very good people. They were just so demoralized. And I asked them I said okay, let’s just assume the CEO had to cancel the project. Let’s assume he had to cancel for whatever reason. Let’s not question that.
What could the CEO have done not to get you to be so depressed? And they came up with all kinds of ideas. They said what if he allowed them to make a few working prototypes and distribute them within the company for a few years. Just kind of see what people do with them. They say what if he allowed them to take parts of this new technology that we’re developing and see which parts will be useful in other parts of the organization, right, have some kind of leftovers from the project. They said what if you would allow them to do a workshop for the whole company to show them the journey of the last two years.
Read Full Transcript Here: https://goo.gl/Usw8gm.
Payoff: The Hidden Logic That Shapes Our Motivations
Bestselling author Dan Ariely reveals fascinating new insights into motivation—showing that the subject is far more complex than we ever imagined.
Every day we work hard to motivate ourselves, the people we live with, the people who work for and do business with us. In this way, much of what we do can be defined as being “motivators.” From the boardroom to the living room, our role as motivators is complex, and the more we try to motivate partners and children, friends and coworkers, the clearer it becomes that the story of motivation is far more intricate and fascinating than we’ve assumed.
Payoff investigates the true nature of motivation, our partial blindness to the way it works, and how we can bridge this gap. With studies that range from Intel to a kindergarten classroom, Ariely digs deep to find the root of motivation—how it works and how we can use this knowledge to approach important choices in our own lives. Along the way, he explores intriguing questions such as: Can giving employees bonuses harm productivity? Why is trust so crucial for successful motivation? What are our misconceptions about how to value our work? How does your sense of your mortality impact your motivation?