OK. Normally I don’t think about the notion of “money can’t buy happiness” but I was doing some research on top level executives and “money motivation” and discovered this paper, “If Money Doesn’t Make You Happy, Then You Probably Are Not Spending It Right,” written by Elizabeth Dunn, Dan Gilbert, and Tim Wilson. While focused more on individuals I pondered how these same 8 principles might apply to executive pay and compensation:
1 Buy Experiences Instead of Things
2 Help Others Instead of Yourself
3 Buy Many Small Pleasures Instead of a Few Big Ones
4 Buy Less Insurance
5 Pay Now and Consume Later
6 Think About What You Are Not Thinking About
7 Beware of Comparison Shopping
8 Follow the Heard instead of the Head
Go figure…read the paper for more insight. Cheers! Rick