Money can’t buy you performance
The latest example comes from the London School of Economics, where scholars looked at 51 studies on pay-for-performance schemes:
“We find that financial incentives may indeed reduce intrinsic motivation and diminish ethical or other reasons for complying with workplace social norms such as fairness. As a consequence, the provision of incentives can result in a negative impact on overall performance.”
Ooops. Will we finally do things differently in our new, post-Madoff era?