Can financial reward harm a team in the business?

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Can financial reward harm a team in the business?

June 5, 2019 Business 0

Be careful of your financial reward programs, they may result in unintended consequences.

A story of snakes from British colonial rule of India.

In 19th Century India under British colonial rule, authorities decided that there is too many venomous cobras in the streets of Delhi, making life uncomfortable for British residents and their families. So they declared a reward to local residents for every dead cobra they bring. The situation sounds familiar? However, the enterprising locals started breeding more cobras so that they can make more money on the bounty. Soon British officers caught up with this and canceled the scheme. Out of sheer anger, the locals released all the cobras, and cobra population was tripled.

Income from rewards is more addictive than you think.

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