Typical pay increases are not enough to motivate employees, but they are enough to irritate them. โฆ Even when companies create seemingly significant pay differentiation between low and high performers, the actual cash increase is insufficient to sustain performance โ or it drives the wrong behaviors. โฆ Effective management is a system, not a pay plan. The mistake is that companies try to solve all their problems with pay.
Jeffrey PfefferPeople who don't have as much power as they would like often begin by attributing their difficulties to the environment - competitors, bosses, economic circumstances, and so forth. But in reality people are customarily their own biggest impediment to being as powerful as they would like.
Jeffrey PfefferBusiness school graduates from the best schools earn large salaries and frequently rise to positions of great power. It would be nice if they used that power to truly make the world a better place - which entails more than just maximizing their own organization's profits and their own economic well-being.
Jeffrey PfefferWhile it is almost certainly true that leaders ought to eat last, the evidence on the ever-widening difference between CEO and average employee pay and the enormous severance packages leaders obtain even as front-line workers see their economic well-being eviscerated makes a mockery of the idea that leaders do anything other than take care of themselves.
Jeffrey PfefferDoing the right thing is important, which is where strategy comes in. But doing that thing wellโexecutionโis what sets companies apart. After all, every football play is designed to go for a huge gain. The reason it doesnโt is because of executionโpeople drop balls, miss blocks, go to the wrong place, and so forth. So, success depends on executionโon the ability to get things done.
Jeffrey PfefferThose who have power a) understand that the world is not always a just and fair place and accept that fact, b) understand the bases and strategies for acquiring power, and c) take actions consistent with their knowledge in a skillful way. Skill at anything requires practice, and power skills are no different.
Jeffrey Pfeffer