Adapted from Dan Pink's talk at the RSA, illustrates the hidden truths behind what really motivates us at home and in the workplace. Interesting research work showing how higher rewards not always leads to higher or better performance for knowledge workers.
Makes you wonder if we need to review and redesign performance management philosophy and Organizations reward approach. Higher performance need not always be driven by higher rewards, economic behavior is also a function of purpose of work and inherent satisfaction which a job provides.
I am reminded of Herbert Simon's Satisficing approach where he pointed out that human beings lack the cognitive resources to maximize: we usually do not know the relevant probabilities of outcomes, we can rarely evaluate all outcomes with sufficient precision, and our memories are weak and unreliable. A more realistic approach to rationality takes into account these limitations: This is called bounded rationality.
These observations & studies are good indicator why our approach towards human behaviour model continue to be a limiting approach due to perceptual / cognitive behaviour which is more heuristic, unique and situational.