Working in IT, naturally, I have friends who work in technology, but not for law firms. For some time I have envied their periodic bonuses for not only their size, but their frequency. While I appreciate my compensation and annual bonus, it always seemed like it would be fun to get an unexpected chunk of change - like a gift. Apparently, I'm not the only one who feels that way. I ran across
this article detailing a study done by a group at Harvard that showed people really do perceive unexpected compensation as a gift. The real news, though, is what it did for their productivity. It was 20% higher! Imagine what your firm could get done if everyone's productivity was 20% higher, even if only periodically.
As I thought about writing this posting, I fondly recall a mid-sized firm I worked for that gave everyone a smoked turkey at Thanksgiving. It was a fun day when the kitchen was filled with big boxes and everyone left with one to share with their family or friends. I bet those $20 turkeys were worth every penny for the extra productivity gained. That same firm put something on every person's desk for every holiday. It was never anything big, but I still fondly remember those little surprises and that firm 20+ years later. They knew something about how to instill loyalty and motivate people without spending a lot of money to do so.
The other thought I had was about how compensation notices are handled in law firms. They're hush-hush and not highlighted. Profit sharing is bonus compensation given in most law firms, but it's not really "advertised." As an employee, you receive that annual deposit notice and maybe a stale memo stating that "a contribution has been made to your 401(k) account in the amount of...." What if, instead, you received a colorful note thanking you for your contributions to the firm's success over the past year? What if the firm went really crazy and delivered an envelope with play money and some confetti to accompany that stale memo? Would that seem more like that extra $1?
This brings to mind another firm where I worked previously that made a big deal about handing out holiday bonus checks. It wasn't just direct deposited or delivered via interoffice mail. The executives would don antlers or something similar and jingle bells, and go through the office delivering checks and candy canes. You can bet there was a lively atmosphere in the office on that day! Looking back now, that definitely seemed like that extra $1 and I bet they got their extra 20%!
So what do you think would make you give that extra 20%?