People work harder if they know compensation is waiting for them at the end of the line. Yet, studies show that shortly after getting a financial incentive, actually in less than a week, people lose their motivation and their energy levels go down. Financial compensation is a two-edged sword, and should not stand as the only motivator. Truth be told, meaningfulness and recognition matter more. People want to be recognized for their efforts. They need to know if and how they’ve contributed to the team’s success. And they can only find out, if they receive feedback. Regularly, honestly, and with care.
In any process, team or business, feedback is many things. A necessary ritual, a moment of truth, a condition to progress, and sometimes a dreadful experience. This article explains the why, when, and how of giving and receiving feedback. Because, whether we like it or not, people need to know that their work matters, that it has meaning.
Photo by José Alejandro Cuffia on Unsplash