Time has changed. Now we are living in the 3rd wave, knowledge wave. The managerial tools invented and used in 20th century belongs to 2nd wave,industrial wave. Simply they do now work anymore.
In the 2nd wave, machineries and technology were considered as organizational assets. In the 3rd wave, people are the true assets of an organization. Money and rewards doesn’t motivate them anymore. According to Daniel Pink, there are 3 elements to motivate people in the 3rd wave:
- Autonomy: the urge to direct our own lives
- Mastery: the desire to get better and better at sth that matters
- Purpose: why we do what we do
Watch Daniel Pink TED Talk named The Puzzle of Motivation to know more about how to motivate your staff in 21st century.