The Brainy Business | Understanding the Psychology of Why People Buy | Behavioral Economics cover image

The Brainy Business | Understanding the Psychology of Why People Buy | Behavioral Economics

392. The Intrigue of Incentives with Tim Houlihan (Refreshed Episode)

May 13, 2024
Join host Melina Palmer and guest Tim Houlihan, an expert in motivation and incentives, as they delve into the world of non-monetary rewards and personalized goal-setting. They challenge traditional views on motivation, emphasizing the power of recognition and thoughtful goal planning. Discover how incentives and motivation can impact employee engagement and performance, and gain practical insights on applying behavioral science in personal and professional realms.
48:40

Episode guests

Podcast summary created with Snipd AI

Quick takeaways

  • Non-monetary rewards can be more impactful in motivating employees than cash incentives.
  • Setting specific, time-limited goals broken into manageable parts is key for success.

Deep dives

Incentives and Motivation in the Workplace

Incentives play a crucial role in motivating employees. Tim Hulahan emphasizes the importance of non-monetary incentives in engaging employees' emotions and boosting performance. He shares the story of a successful sales leader who valued winning a Panerai watch in a contest more than simply buying it. This highlights the power of non-monetary incentives in fostering engagement and loyalty in the workplace.

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