Rewarding Your Employees

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Why do people like showing off their:

  • luxury watches?
  • freakishly expensive cars?
  • expensive purchases?

Status symbols.

Human peeps crave status.

It's that feeling that if you're the top dog in the room, you feel good.

For instance, the richest homeowner in a poorer country feels more content than the cheapest homeowner in a rich country.

Tap The Human Need for Status

Great economies take the human tendency to look out for one's self-interests and channel it for the greater good.
 
To do that for your company, design a company where people can increase their status through work that benefits the company.

Highlight status symbols (e.g., Ohio State football players get stars on their helmets, innovative Googlers are rewarded with the Founders Fund, etc.)

You'll make your crack team feel happier, retain those superstars, and ensure only the ones that benefit your company most feel most content.

WIN.

Highlight the best.

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Posted on October 31

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