A New Perspective on Employee Motivation. How a Hiring Mistake Can Cost Lives

Main subjects

Teams, hiring, and motivationEmployee motivationHiring and firingF/Friend / friendsTimeCouples and healthy relationships

Main threads of the conversation

• 00:00Motivation and its influence on employees' work
• 01:02About the channel's content
• 02:02Three parts of incentives
• 03:52How incentives affect work
• 04:57An example of incentives and different goals
• 06:32CEO incentives: an example from my experience
• 10:56What misaligned goals mean
• 13:26Why understanding employees' goals matters: company owners' mistakes
• 15:00Employee and company owner incomes
• 18:02Silicon Valley, Russia's GDP, and business management
• 20:14Mistakes in employee and executive incentives: an example from my experience
• 23:00Misaligned incentives: calculating how much to pay
• 25:31About Business Molodost
• 27:13Advice for business owners

Claims made here

Individual claims identified in the material: who said them, when, and what kind of thought they express. Each timestamp opens that point in the video.

• 04:18

  When I'm creating, producing, or working, I don't do it better or worse, or communicate with a partner or client better or worse, because of the incentive system I have.

  Alexander Volchekcomparison

• 06:10

  Depending on whether the wife tells her husband at home—your employee—that his job is great or terrible, he'll work completely differently and perceive the job completely differently, because she hammers away at it and influences it every day.

  Alexander Volchekcause

• 13:13

  I focus on my goal and start aligning, adjusting, and negotiating my incentives as closely as possible around my personal goal, understanding that my personal goal won't fully align with the company's goal, because that's impossible.

  Alexander Volchekcause

• 15:42

  There are people capable of thinking on a large scale while earning little, because the scale of your thinking, your inner scale, isn't always directly connected with money.

  Alexander Volchekcauseprinciple

• 17:18

  He can't reconcile them, because ownership matters to him, significance matters, this particular sense of things matters.

  Alexander Volchekcause

• 17:31

  He says, “It's better to own 1% of Apple than 100% of this small business.” I say, “What do you mean, 1% of Apple? What are you talking about?”

  Alexander Volchekrecommendationcomparison

• 19:47

  As a person and business owner, how much do I—or you—understand that other people, partners, and other strong employees on your team deserve to earn good money, because that helps you grow, helps your business grow, become effective, and generate a great…

  Alexander Volchekcause

• 20:11

  You may already have lost a huge market because you have the wrong team, because you and someone couldn't agree on their salary.

  Alexander Volchekcause

• 22:53

  When I was selling the company as CEO, preparing all the budgets, plans, and everything, we planned for it to be worth half a billion dollars in five years, meaning in 2017.

  Alexander Volchek

• 27:05

  So at that time we could have had a good, normal conversation and reached a great agreement together.

  Alexander Volchekcause