This week saw the Oscars ceremony come round again and it was great to see that British talent in the film industry was recognised once again. The likes of Daniel Day Lewis, Tilda Swinton and the lesser known names like Suzie Templeton all won much-coveted statues - and I bet they’ve felt great all week!
The Oscars is a particularly public and grandiose form of recognition, but it got me thinking about the kind of recognition our workforces find most motivating and how this compares with the experience of Hollywood actors.
You can’t talk about reward and recognition without mentioning money - it will, of course, always be important to people. Imagine you had a UK worker in a room with an Oscar nominee and you asked them both whether they would rather receive an internationally recognised award or a pay rise - I think you’d get very different answers from each of them. Obviously, this is partly because the actor already has plenty of money, but it’s also partly because in the UK (as in many other countries) we measure our success largely by how much money we earn, as opposed to how good we feel. Or at the very least most people assume that having money will make them feel good.
However, there have been some changes in this area of late because potential recruits now place more importance on the non-monetary aspects of a job than ever before. Recruiters who compete in the ‘war for talent’ have been starting to find that being seen as ‘an employer of choice’ is critical for securing the best people ahead of their competitors. Employers have discovered that applicants value aspects of employment that go well beyond pay – such as the potential to work flexibly, having high levels of autonomy and whether the organisation feels good to work in.
This picks up on some of the points that my colleague Ivan Robertson was making when he was a guest on my blog recently – that is, that leading organisations now know that paying the best salary is not enough to attract and retain the top people – staff stick around and give you their best when they buy into the vision painted by the organisation’s leaders and when they enjoy and are recognised for their work. These conditions, combined with pay that they see as fair reward for their contribution, are a recipe for success.
And it’s probably not that different for Hollywood actors – the pay is usually higher, but the principle is the same: Doing work that they feel is worthwhile for the right rewards and with recognition from respected peers and the public is a blend that leads to their best performances. As Confucius once said “choose a job that you like and you will not have to work a day in your life”.
Posted by Cary Cooper