In “The 6 Rules for Rewards”, Jurgen Appelo points out that extrinsic motivators (bonuses, etc) are far less powerful than intrinsic ones. He makes the bold statement that employee bonus schemes can actually reduce effectiveness.
This is a companion discussion topic for the original entry at https://www.funkypenguin.co.nz/opinion/why-financial-incentives-arent-the-optimal-way-to-motivate-your-knowledge-workers/