tag:blogger.com,1999:blog-4073991368963140015.post1147507895188541987..comments2023-11-05T12:18:27.222+00:00Comments on Labour And Capital: (not) in it for the moneyTom Powdrillhttp://www.blogger.com/profile/05511483398745094803noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-4073991368963140015.post-18876286917664383872009-09-23T12:20:51.196+00:002009-09-23T12:20:51.196+00:00and, so, err ... ?
the suspense is killing meand, so, err ... ?<br /><br />the suspense is killing meNick Drewhttps://www.blogger.com/profile/13670594203660051701noreply@blogger.comtag:blogger.com,1999:blog-4073991368963140015.post-79692005075855419502009-09-22T18:51:38.094+00:002009-09-22T18:51:38.094+00:00Nick
Sorry for lack of response, busy busy!Nick<br /><br />Sorry for lack of response, busy busy!Tom Powdrillhttps://www.blogger.com/profile/05511483398745094803noreply@blogger.comtag:blogger.com,1999:blog-4073991368963140015.post-62563907186221017342009-09-19T12:04:57.765+00:002009-09-19T12:04:57.765+00:00I'm sure you have a lot of research on this at...I'm sure you have a lot of research on this at your fingertips, Tom, but in my experience <i>bonus</i> is a real cult / fetish issue, way more than salary and probably more than the £££ involved<br /><br />the thought of being awarded that discretionary <i>something extra</i> really grabs the attention of mortal beings, who will do almost anything to be acknowledged & treated thus<br /><br />(it should carefully be distinguished from commission which is quite a different matter)<br /><br />[it has the same economically irrational quality in 'our' culture (and that includes a very large part of the world, see anecdote below) as other types of public esteem do in other cultures e.g. in Arab culture, for some reason, being offered longer credit by a vendor betokens that you are trusted in a very meaningful and gratifying way - and they will cheerfully pay extra - which clearly they must, to cover the credit-risk & time-value aspects and the bank guarantees involved - in order to be granted the longer credit, which in simple economic terms is usually daft]<br /><br />anecdote: I once had to set up and staff an office in Russia, to service dealmaking activities by US and UK commercial types for whom bonus was significant. the Russian locals were admin staff and, under company rules, didn't qualify for bonus: but I could tell (it wasn't hard) they were utterly fixated by the Cult of Bonus<br /><br />so I obtained approval to set up a tiny local bonus scheme, the amounts available under which were notional at best<br /><br />I was feted as some sort of minor deity and enjoyed their fervent loyalty thereafter (which, they very openly stated, was in large measure due to this scheme) - and I am utterly convinced that a commensurate salary increase would not have had the same effect <br /><br />this is real human psychology: it runs deep & it behoves us to understand itNick Drewhttps://www.blogger.com/profile/13670594203660051701noreply@blogger.com