Bonuses and performance-related pay are outdated and unscientific, argues Daniel Pink. The best companies, Pink claims, create loyalty and engagement simply by empowering and respecting their employees, making expensive incentive programs redundant. But The Economist isn't convinced: "It is true that some of the world's best companies are putting more emphasis on 'purpose.' But it is quite possible to mix this with pay-for-performance."
Published in Brief: