Why We Work

About the book: Why We Work exposes the flawed assumptions that govern the modern working world. These blinks walk you through the reasons why current management strategies backfire, and show you some far more effective alternatives. In addition, case studies based on company success stories illustrate just how powerful engaged and fulfilled employees can be.

About the author: Barry Schwartz is an American psychologist and Dorwin Cartwright Professor of Social Theory and Social Action at Swarthmore College. He has authored more than ten books and published well over 100 papers in scientific journals. He also writes for leading newspapers, is a regular guest on radio programs and has even given two TED talks.

My highlights:
The most fulfilling work allows us to make a difference in the lives of others. People tend to see work from three different standpoints. For some of us, work might be nothing more than a job.
Others perceive their work as a career; in other words, a period that is hopefully characterized by progress and growth.
Still others believe their work to be a calling. For these people, the work they do creates positive change in the world.
Without autonomy, investment and a mission, employees feel disengaged and demotivated. there are three factors that make a company come out on top, and they're all tied to how employees are treated. The first of these is autonomy.
The next factor is investment. Some of the most successful companies today have reached great heights by dedicating time, money and effort into the skill development of their employees.
The third crucial factor is mission. A company's mission isn't just something that should halfheartedly come up in the CEO's speeches. Instead, it should be continually present
Attempts to boost productivity through overstructuring and financial incentives will backfire. Overstructuring is known to decrease engagement and productivity.
Unfortunately, overstructuring isn't the only factor depleting employee motivation. Reliance on financial incentives is another strategy that often backfires.
Financial incentives seem like a good idea at first, but ultimately run the risk of turning social or moral contracts of integrity into flexible financial relations, thus missing their target entirely.
Companies must redefine efficiency and consider three key questions to improve their workplace. This all starts with asking three simple questions: what, how, and when. What is the purpose of your employees' tasks? What positive impacts do they create? How do your workers complete their tasks? Are they strictly monitored, or do they call the shots? And finally, when can you introduce change if things aren't looking so great at your workplace? Employers often answer the third question with avoidance. It's true that the modern economy is in constant flux; however, waiting for stability to change your company will only allow vicious cycles to deepen. The answer to the third question is always “now”!
Final summary Heavy reliance on financial incentives and strict performance monitoring leaves workers feeling demotivated and disengaged. If companies want to make their workplace positive and productive, outdated theories must be left behind. By making employees feel trusted and valued, employers can make their jobs feel like a calling.