17 Jul The HARD Truth About Rewards and Incentives
A long, long time ago I took a job in the Life Sciences industry.
I pursued that role for three reasons – and please remember, I was young.
I wanted – in order; an attractive salary, benefits, and a company car.
I got them – though the base I accepted, even by 1980 standards, was questionable.
$13,600 – and I ask that you not laugh when you hear that figure. There was bonus potential on top of that – not much but it was something.
I considered myself wealthy beyond my wildest dreams – and given my station in life at that point, I was.
Then, still wrapped in the luxurious trappings of my new world – reality struck.
I had quotas to hit – profit goals – activity minimums – thresholds that, if I didn’t meet them, meant that the 3 things I most wanted were going to go away – quickly.
That job of a lifetime suddenly wasn’t so wonderful.
And the company car looked a lot less appealing – as did the benefits. My salary didn’t help allay my frustration. It made it worse.
“I am underpaid,” I told myself.
My job – regardless of the baubles that were dangled in front of me – had become, well, just a job. In some ways I yearned for my days on a loading dock when I was in school.
Less pay but a lot less headache.
And then one day I began to realize a very hard truth.
No matter how much I worked – or how extravagant the pay and the benefits – my job might always be just that – a JOB.
And that was pretty depressing. Working for bigger carrots – more elaborate extrinsic rewards – might ease the pain. It didn’t eliminate it.
I did the math – and if my calculations were close to correct, I was going to spend somewhere around 100,000 hours of my life … on a hamster wheel.
So I began to think about a few other things.
Was there anything out there I was passionate about?
Was there anything I actually had some skills in?
And maybe most important, was there something that offered me a sense of purpose and not just another number on my bank account?
It took me a while – and a couple of jobs – but I eventually did find that sense of purpose.
Today, when I work with leaders and companies on their incentives and rewards I try to remind them of the limitations that can blind.
The “packages” – at best – buy employee compliance. Nothing more.
Quid Pro Quo – you do the work and we’ll give you something in return – the “something” can be incredibly extravagant but it is still an extrinsic reward.
NO movement – no nation – and certainly no company builds greatness because its constituency decides to comply – even if they are overpaid for doing it.
Talk with the companies who understand this and we find they intuitively recognize the limitations of the Quid Pro Quo – and it’s in those organizations that we find a disproportionate amount of attention devoted to the nuances of building Human Capital – namely, people, leadership, and culture.
Over the years I’ve come to appreciate that my journey wasn’t atypical – like a great many, I started with only a vague sense of my Direction – it took time to discover a sense of Identity – even longer to find a Purpose.
Both led me to intrinsic rewards that sustained me. A few authentic leaders helped me in that amazing odyssey.
I felt so strongly about the power of those drivers that I eventually codified them – and today The Starlight Principle is an essential part of many of our leadership workshops.
Too many “workers” toil too many years in a fog – hoping for a better life.
Hope is not a strategy – it’s often a complicated exercise in futility.
Leaders – REAL leaders – can change the calculus; transforming the hamster wheel into something more.
I still have pictures of that first company car – it was a Pontiac Catalina as I recall. It got me from Point A to Point B.
But it really never got me on the road to my career.