Manager – “We don’t need any motivation for this transformation. They have a job and let them do it.”
Me – “You do understand that we are asking the employees not just to do their day jobs but also take on a full time role in this transformation. It will burn them out.”
Manager – “They can take less coffee breaks and work overtime.”
Me – [Silence]
Manager – “well… we will just give them some bonus at the end of the project.”
During major corporate transformation initiatives, keeping employees motivated and invested is absolutely critical for success. However, this truth is often grossly underappreciated by managers overly reliant on antiquated “carrot and stick” motivational philosophies.
The Flawed Assumption of Monetary
Motivation
A common misbelief, as illustrated by the perspective of the executive in the intro, is that simply paying employees more or promising end-of-project bonuses will sufficiently motivate them through the heavy lifts of transformation. This narrow way of thinking is flawed for several reasons:
Transformations aren’t short-term sprints – they are marathons requiring sustained engagement over months or years. One-off monetary incentives provide only temporary boosts.
Transformation work isn’t just about clocking in more hours. It requires applying deep focus, creative problem-solving, and fully internalized buy-in that money alone cannot buy.
Excessive overtime and burnout inevitably backfire, fueling disengagement, turnover of key talent, and poor-quality output.
The research is clear – money provides trifling motivation for cognitive, creative, and entrepreneurial work like transformations demand.
The Intrinsic Motivation Advantage
So if not money, what does effectively motivate employees to go above and beyond for transformation success? As Daniel Pink discusses, the most powerful motivators are:
Autonomy – Having a degree of self-direction over their tasks and time creates a sense of personal ownership.
Mastery – The ability to develop new skills, take on stretching challenges, and see measurable professional growth.
Purpose – A grasp of how their efforts directly contribute to the greater mission and positive impacts inspires pride.
Camaraderie – A sense of being part of a collaborative, supportive team striving toward a common goal.
Leaders who proactively design programs around intrinsic drivers like these position their transformations to be embraced with vigor. Skilled change managers skilled direct employee engagement through channels like:
- Participative design sessions for voicing ideas/concerns
- Cross-functional innovation challenges rewarding creative solutions
- Team celebrations for incremental goal attainments
- Championing transformation “bright spots” as sources of inspiration
- Investing in continuous learning opportunities for skill expansion
Employee engagement and motivation aren’t “nice-to-haves” during transformation – they are non-negotiable requirements. While it takes more thoughtful effort than just throwing around bonuses, fueling intrinsic motivation ensures employees persist as committed, driven partners propelling transformations forward.
Found this article interesting? Check out these three related reads for more.
- Series (4/10): Why core banking transformations often fail – Resistance to change
- Series (9/10): Why core banking transformations often fail – Failure to re-engineer
- 10 reasons why core banking transformations are not just IT projects
#EmployeeMotivation #TransformationSuccess
