Publications
Publications
  • January 10, 2022
  • Article
  • Harvard Business Review (website)

The Secret Ingredient of Thriving Companies? Human Magic

By: Hubert Joly
  • Format:Electronic
ShareBar

Abstract

The traditional corporate approach to motivating people has been a combination of carrots and sticks: a system of financial incentives designed to mobilize everyone around a plan designed by a few smart people at the top. Multiple studies have confirmed that, for any work involving cognitive or creative skills, financial rewards do not drive motivation and performance. So, what does? According to former Best Buy CEO Hubert Joly, it takes several mutually reinforcing elements to create an environment that unleashes the kind of human magic necessary for a company purpose to take root and flourish. He presents six ingredients to create your company’s unique recipe for human magic.

Keywords

Meaning; Purpose; Organizational Culture; Employees; Motivation and Incentives; Performance

Citation

Joly, Hubert. "The Secret Ingredient of Thriving Companies? Human Magic." Harvard Business Review (website) (January 10, 2022).

About The Author

Hubert Joly

Marketing
More Publications

More from the Author