Clive Palmer is a billionaire businessman - the richest man in Queensland, Australia. He knows something about business and employee motivation.
Palmer handed out $10 million in gifts to his 800-strong Townsville nickel refinery staff, including a fleet of 55 Mercedes-Benz cars and an amazing 700 overseas vacations.
Here's some background, Palmer threw a lifeline to Queensland Nickel 16 months ago when it was facing closure and losing $10 million a month. Having recently posted a profit of about $100 million, he attributed it to staff innovation and high nickel prices. Recipients of the cars were chosen on performance, years of service, and input to a program that generated $16 million in savings.
Palmer says, "Too many people in Australian industries do not appreciate the average person working for them. We want our workforce to be happy and know they’ve got a good future and are well respected."
I've always believed that happy workers do better work and are more productive. This translates to greater profits.
Do they teach this in business school?
