Stewardship, 2nd Edition

Reward Systems That Support Stewardship

We need a reward system that gives preference to service over self-interest. One that values accountability for the success of the enterprise. This means we all get paid for outcomes of concrete value to the organization. It also means there needs to be an equitable distribution of wealth. One test of equity is whether our pay structure can withstand the light of day. One purpose of a pay practice is to affirm the fact that the success of the institution is in the hands of people at each level. An institution’s wealth and value, in the broadest sense, is then a community creation. These three elements—to affirm purpose, to share wealth, to end secrecy—are central to a pay strategy that helps institutionalize ...