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HOW START UP?/MOOC

직원 동기부여 및 인센티브 시스템 설계 (Part 1)

Managing Social and Human Capital

Introduction

Module 1. Motivation and Reward



Before We Get Started...

* We should recognize something about employment

* It is about "people", different from other factors of production

- They have legal rights including unionization, which limit what management can do

- Social norms also matter - including "issues of fairness"


Motivation

* You could try to manage people by having somebody stand over and watch them, but that doesn't work very well.

* HOW DO YOU MOTIVATE PEOPLE to work in the way you want them to work?


[Google / 3M]

- Giving their employees TEN HOURS A WEEK to work on whatever they want to

= Giving discretion and autonomy and not supervising them = "TRUST"


What is motivation?

* Motivation and Mothers Restaurant


* Agency theory: Automated Travel Systems

- Engineers threatening to quit and the company was on a very short deadline & having not enough money

- Model which is ALL ABOUT MONEY (more money, stay. less money, leave.) regardless of the missions / jobs

- [Solution] INCENTIVES

- Rewarding people for doing the right things


"Efficiency Wages"

= If you pay more to employees a little bit than your competitors do, 

  benefit 1> best ones come to you because you pay a little premium over the others.

  benefit 2> folks are less likely to quit

  benefit 3> folks are likely to behave better not to get fired


"Tournaments"

= Big prizes for winning

benefit > all people playing in the tournament motivated by one prize = Efficient!

downside > this works great in a tournament/company where nobody's gotta work together and everybody's literally competing against each other

*IF YOU WANT FOLKS TO COOPERATE AND WORK TOGETHER, 'tournaments' cuts against it.

* Employees will tend to choose the weakest tournaments in the company

Usually real case = "promotion system"


"Rewarding A While Hoping for B"

* Australia (prison ship)

- Incentive for prisoners onboard at departure --- less food, bad conditions, bad support ... --- HIGH DEATH RATE

- Incentive for prisoners alive at arrival --- more food, good conditions, good support --- MANY ALIVE PRISONERS

* The Mir Space Station

- Incentive for docking successfully --- NEVER TAKE RISKS FOR DECREASING COSTS DRASTICALLY

- Incentive for taking risks --- VOLUNTARILY TAKE RISKS AND IT RESULTS TO COST DOWN



Designing Incentive Systems


Here's the trade-off

- Is the performance outcome within my control?

   If not, there is no incentive.

- IN MANY JOBS, IT'S VERY DIFFICULT TO MEASURE MY OUTPUT


[SUB OPTIMIZE]

- Get my goal at the expense of the overall business

- Similar to "Rewarding A while hoping for B" case


BEST SOLUTION about most incentive based pay

= not rely on incentives too much

= have incentives that are pretty simple (NOT COMPLICATED)


Exception: Executives whose pay is tied to overall business outcomes

- Even here, we could get sub-optimization (short-term obj vs. long-term obj.)



Psychology Theories - complicated view


Expectancy theory

- what do I actually expect from employees?

- If you believe that something might happen(change in ownership/goals/incentives/etc), your motivation falls to zero.


Path-Goal

- Even if you know all the clear goals for incentives, it is NO USE when you don't know how to get there!

- Remind us of the importance of people having the skills, having the training, understanding what to do.


Behavior Modification

- Begins with a series of cognitive models (the way your brain processes information)

- You, a supervisor goes to the store and give bonus to an employee for doing right things

- Employee will think that "if I keep doing like this, I will get more bonuses!"

- The beauty of behavior modification is...

- "You don't have to get those bonuses all the time"

- STRONGEST MOTIVATION/LEARNING about how to behave comes from

   when you get them almost RANDOMLY for doing the right things

- It teaches people to behave in a particular way "UNCONSCIOUSLY"


Notion of Conformity

- People nearby conform to WHAT THAT GROUP IS APPARENTLY DOING

- When you hire people into an organization, they don't know how it works and what the rules are

- You put them into a group of high performing people and they'll copy these people





Imitation

- We copy an attractive role model

- Good example > Attractive supervisor do the right things

- Bad example > Attractive supervisor do not the right things


Compliance

- Idea that we really react to formal authority very powerfully

- We want our authority figures in organizations to be DOING THE RIGHT STUFF


Cognitive Dissonance

- In our heads, it's difficult for us to hold conflicting pieces of evidence at the same time 

  = BEING UNCOMFORTABLE = MAKE ACTIONS TO RESOLVE IT


[How to Resolve Cognitive Dissonance] 


> Goal Setting

- Quitting smoke / you make a promise to people you care about (i.e. children)

- I understand smoking is killing me / I promise you I'm quitting

- You could sneak away and do it, BUT THERE COMES COGNITIVE DISSONANCE - "I promised and I don't want to be a liar, I will not smoke."


> Pygmalion Effect

- Supervisor expects more than what I think I can do

- The expectations push me a little bit harder and make me put more efforts, time, resources - and make the job done!


> Equity Theory

- It has to do with UNFAIRNESS ISSUES

- When we perceive something unfair, we try to create equity BY CHANGING THE BALANCE OF OUR CONTRIBUTIONS

- by saying "I am not working as hard"




본 내용은 아래 MooC 강의의 학습내용을 바탕으로 작성했습니다.

https://www.coursera.org/specializations/wharton-business-foundations