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Would more money make you work harder?

A study by the Federal Reserve Bank of Boston’s Research Centre for Behavioural Economics and Decision‐Making tested the difference in worker output based on varying levels of monetary reward.

Experiments were conducted at MIT, the University of Chicago, and rural India. Subjects worked on different tasks and received performance‐contingent payments that varied in amount from small to large relative to their typical levels of pay.

With some important exceptions, high reward levels were observed to have very surprising effects on performance – which are, literally, illustrated in the video above.

The outcomes would come as no surprise to world #1 life & business strategist Tony Robbins

He puts it this way; “I’ve seen it a million times–people can equate their net worth with their self worth. Their identity is married so deeply to their bank statements and quarterly portfolio reports that they’ve forgotten that money is simply a vehicle for trying to meet our needs, almost all of which are not financial. We’re all familiar with the cliché that money cannot buy happiness, but I’m convinced that almost everybody has to learn that lesson the hard way because let’s face it; the idea of having enough money to throw at your problems until they’re solved is a seductive impulse.

There are six basic, universal needs that make us tick and drive all human behaviour. Combined, they are the force behind the crazy things (other) people do and the great things we do. We all have the same six needs, but how we value those needs and in what order, determines the direction of our life.

 

Tony appears live in Sydney, September 8-11 to hold his firewalk weekend of transformation, Unleash the Power Within

 

 

Source: bostonfed.org

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