Loading...
 
 

Motivating performance

Published: 29 May 2013 Average Rating: unrated Print
 

As part of the on-going debate over bonuses and incentives, McKinsey has re-issued an article from 2009 entitled 'Motivating Without Money'.

he article contains research findings that suggest there are alternatives to financial incentives. For example, praise from immediate management actually emerges as the most motivating acknowledgement, with 'attention from leaders' and 'opportunities to lead projects and task forces' also beating cash bonuses or salary increases.

I don't know the profile of the people participating in the McKinsey study, but I suspect these findings come as no great surprise to most contracts or procurement professionals. Indeed, as a community I suspect we are rather skeptical about the subject of bonuses. We have too often experienced the negative behaviors and distorted judgments that they create.

In addition, those in contracting and procurement overwhelmingly operate outside the incentive schemes of some business groups. We look quizzically at people who can apparently be motivated only by money. Indeed, our hard work is frequently not even acknowledged with praise, yet still we carry on. And the reason for that is because we know we make a difference and we have true professional pride in our achievements.

Comment or read more of Tim's blog

 
 
 

Related Discussions

Please sign in or register to post on this forum

Enbridge
2016-08-12 14:41:04

EU Salary Info

I am located in NL and need an idea of average salaries to grow my team. Where can I find data on average salaries in the Netherlands from admin to exec level for cont...
 
 
 
Replies: 2

Korean EPC
2014-10-24 23:38:04

Negotiating your Employment Contract

Thank you for reading my post. I am a contract manager for a large oil powered construction project in Saudi Arabia. I am approaching the end of my third year and the ...
 
 
Anonymous
2014-04-14 07:34:13

Workers Compensation - Service Provider Liability

We (Service Provider) have a specific situation. We are negotiating a Services Agreement with a Customer (firm) in South Africa. As a standard practice we required ...
 
 
 
 
Replies: 3

BC Hydro
2020-05-28 19:38:24

Pricing Trends for major equipment and engineering services

Is there any research available here on pricing trends for major equipment, related transport and engineering? If someone could point me to a report or reliable source...
 
 
Replies: 1

KEO International Consultants
2020-05-26 13:02:59

Negotiation effectiveness

What are the fundamentals and effective tools to be taken into consideration before negotiation meetings. Please share negotiation cases initiated from both parties. I...
 
 
Replies: 1
Anonymous
2020-05-25 20:24:00

Scope of Work/Statement of Requirement

Hello Everyone, I am currently a procurement specialist with experience in strategic sourcing. I would like to ask if anyone could share a sample statement of requir...
 
 
Replies: 1
Anonymous
2020-04-09 14:35:03

Requirement for work email address to sign up for IACCM events

During this time of COVID-19 layoffs and work closures, it seems unfair that a work email address is required to sign up for IACCM events, rather than, say, a Gmail ad...
 
 
 
 
Replies: 3

The Bank of Nova Scotia
2020-01-06 14:10:40

Defining KPIs and Creating Dashboards

Hi All, I am a fresh member of the portal. Looking for some insights in regards to defining KPIs. We are a team of 3 Contract Managers and our manager has asked us to ...
 
 
 
Older entries »
Replies: 2