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Explore an innovative approach to performance management and compensation structure that drives higher outcomes. Learn the power of autonomy in goal setting and the impact of social pressure. Discover the benefits of allowing employees to set their own goals and receive variable compensation.
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Quick takeaways
- Variable compensation tied to personal goals fosters motivation and reduces employee churn.
- Autonomy and intermittent reinforcement increase employees' sense of ownership and motivation.
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Variable Compensation with Personal Goals
One key idea discussed in the podcast is the use of variable compensation tied to personal goals. Rather than just having a set commission or bonus structure, this approach allows employees in various roles to have a percentage of their compensation as variable, giving them the opportunity to earn more based on their performance. The unique aspect is that employees are given the autonomy to set their own personal goals each month, as long as they align with the company's overall objectives. This creates social pressure to set meaningful goals and encourages employees to take ownership of their performance.
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AI-powered
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Listen to all your favourite podcasts with AI-powered features
Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode