THE PSYCHOLOGY OF REWARDS AND INCENTIVES

There is a naïve idea of the effect of money: the more a person gets for his/her performance, the more he/she performs. We know today that this may be true under certain conditions.

However, the effect of fixed or variable pay on attracting, motivating, and retaining employees is extremely complex and depends directly on the respective framework conditions. For example, if high-performing employees receive an individual performance-based bonus, you may be making a mistake. If you do not, you also have to reckon with negative consequences.

In this keynote, I clearly present the current state of research on the effect of pay and incentives. I point out practical dilemmas and at the same time provide an orientation for the practice of remuneration.

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CEOs, executives of small, medium-sized and large companies, human resources executives, HR professionals, management consultants, workers councils, people officers, CHROs

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The Compensation Challenge

In 2021 I did a keynote on the psychology of rewards

Human Resources Strategies

The most comprehensive book about strategic HR in times of Digitization. In this book I dedicate three chapters on remuneration strategies

Compensation is often more about Acquisition and Retention

In this little video I explain, why we should not always think about the effect of reward on motivation. Very often it is rather about getting good people on board an retaining them.

The Dilema of Rewarding individual Performance in creative Teams

Even in teams there might be high performers. Treating high performers differently might be a mistake. Not doing so might be a mistake too. You might either kill collaboration or you lose or not attract high performers. There is no perfect solution.