One thing you touched on, but didn’t delve into, is that the various “pay” components will having varying marginal utility at different levels.
For example, if you’re literally starving, “coolness” won’t matter much, you need enough money to buy food! But if you have enough money, you start caring about other things.
Perhaps having some social interaction is important, and you would sacrifice other things to have at least some of that in your job. But, beyond a certain point, the value diminishes, and would likely go negative, as the constant socializing gets tiring, and distracts from work you actually would like to do.
I think a good manager would be good at optimizing against those utility curves. They would pay people enough, but not more, than they need to not be upset about low pay. They would recognize that one team party per quarter might be valuable to the team, but parties every week would not be appreciated. They would give people opportunities to socialize, but also, to avoid getting dragged into socializing when they would really rather be focused on the job. And so on.
a good manager would be good at optimizing against those utility curves
Yup! One of the best things a manager can do is to know their people, which allows them to tailor their communication, motivating words, and all other behaviors in a way that will be most effective for the target recipient. It is a beautiful thing to see in action, and it is a great aspiration to have in professional life.
One thing you touched on, but didn’t delve into, is that the various “pay” components will having varying marginal utility at different levels.
For example, if you’re literally starving, “coolness” won’t matter much, you need enough money to buy food! But if you have enough money, you start caring about other things.
Perhaps having some social interaction is important, and you would sacrifice other things to have at least some of that in your job. But, beyond a certain point, the value diminishes, and would likely go negative, as the constant socializing gets tiring, and distracts from work you actually would like to do.
I think a good manager would be good at optimizing against those utility curves. They would pay people enough, but not more, than they need to not be upset about low pay. They would recognize that one team party per quarter might be valuable to the team, but parties every week would not be appreciated. They would give people opportunities to socialize, but also, to avoid getting dragged into socializing when they would really rather be focused on the job. And so on.
Yup! One of the best things a manager can do is to know their people, which allows them to tailor their communication, motivating words, and all other behaviors in a way that will be most effective for the target recipient. It is a beautiful thing to see in action, and it is a great aspiration to have in professional life.