In a column about Netflix, author Daniel Pink described their vacation policy for salaried employees. They have none. All who are salaried can take off as many or as few days as they want. Their rationale? Because many people do a lot of work away from the workplace, time at the workplace is increasingly irrelevent.
Netflix vacation policy is what Pink means what he says autonomy at work motivates us. In an econtalk discussion, he said that once we are sufficiently paid, autonomy (directing our own lives), mastery (desire to get better and better at a task), and purpose (“yearning to do what we do in a service larger than ourselves”) propel our performance. Discussing the same ideas in a TED talk, he quotes a Federal Reserve paper that suggests high compensation can even detract from job performance.
Should we care about Pink’s ideas? Do big changes have to happen at work? Can they?
The Economic Lesson
During the past several centuries, management styles have changed. We could start with Adam Smith’s description of small businesses and the division of labor in a market system and conclude with Alfred Chandler and Peter Drucker’s discussions of the structure and strategy of management and the worker in the modern corporation.
But then, as suggested by journalist Alan Murray in an excellent WSJ article about the demise of old management models, the 21st century might require that we begin all over again.