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

The Secret Ingredient of Thriving Companies? Human Magic

By: Hubert Joly
  • Format:Electronic
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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).
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About The Author

Hubert Joly

Marketing
→More Publications

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    • Fortune

    Companies Should Be Guided by Their Purpose and Values When Deciding Whether or Not to Exit Russia

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    Connecter les rêves

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    • April 6, 2022
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    5 Principles of Purposeful Leadership

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  • Companies Should Be Guided by Their Purpose and Values When Deciding Whether or Not to Exit Russia By: Hubert Joly
  • Connecter les rêves By: Hubert Joly and Mariana Arnaut
  • 5 Principles of Purposeful Leadership By: Hubert Joly
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