What is the best way to encourage innovation? Competitive pay may be the answer
Friday, February 14, 2020 - 14:50
in Mathematics & Economics
Economists and business leaders agree that innovation is a major force behind economic growth, but many disagree on what is the best way to encourage workers to produce the 'think-outside-of-the-box' ideas that create newer and better products and services. New research indicates that competitive 'winner-takes-all' pay structures are most effective in getting the creative juices flowing that help fuel economic growth.