Could this explain why the bank bonus culture doesnt work?

[Guest]

HI
I thought this was fascinating


http://t.co/13fpM6ul

[Guest]

Re: Could this explain why the bank bonus culture doesnt work?

This brings to light what we all knew instinctively, that innovation and genius cannot be bought.

Most great scientist inventors and artist were either on the bread line or in a social position where money doesn’t matter.
In my opinion you cannot incentivise skill by offering a financial reward; the motive has to be much more fundamental, much more human.

Great inovations are borne out of a need to either improve the human condition or just plain show off.
I don’t think there is anything wrong with paying someone what they are worth, but when you offer huge incentives the job becomes about the money, and ceases to be about the quality of the work.

As our investment bankers’ have shown

my opinion.
Peter

[labman]

Re: Could this explain why the bank bonus culture doesnt work?

Totally agree with you Peter. When you talk about innovations being borne out of need, think of the World Wars and how ingenius people became. How many inventions were borne out of need then - the tank, the bouncing bomb, the U Boat (albeit the other side), decoders, the list is almost endless.

Look at the innovation of people who escaped from POW camps making ropes, clothes, digging tunels etc....

It is exactly the same thing in a different context.

[Guest]

Re: Could this explain why the bank bonus culture doesnt work?

So the trick is to find someone who has a natural gift, then you give him enough money so that it is not an issue. This enables him to use his time to focus on doing what he is good at.
You do not take a nonentity with a few number skills and pay him a ridiculous sum in the vain hope that it will incentivise him to perform beyond his talent.
Peter

[labman]

Re: Could this explain why the bank bonus culture doesnt work?

Mediocrity knows nothing higher than itself, but talent instantly recognises genius.
(Sir Arthur Conan Doyle)

A really great talent finds its happiness in execution.
(von Goethe)