A study reveals that the health sector needs altruistic and skilled individuals for effective patient care. It asserts that monetary incentives often fail to foster genuine caring behavior among healthcare professionals. Attracting motivated individuals is paramount as perfect control mechanisms for performance monitoring are nearly impossible. Research involving applicants to medical schools shows a need to identify those with high altruism. The findings indicate that while high earnings can motivate, intrinsic satisfaction plays a vital role in choosing a medical career.
The health sector requires skilled, altruistic, and motivated individuals to perform complex tasks for which ex-post incentives may prove ineffective. Health professionals should have a genuine desire to help their patients, independent of monetary rewards.
Job performance is affected by two main factors: the ability to attract and recruit the 'right' people and the design of ex-post control tools. Perfect 'control tools' can almost never be designed, making attracting the 'right' people crucial.
Economists acknowledge that monetary rewards are almost impossible to fine-tune to elicit caring behavior. This is particularly critical in healthcare, where intrinsic motivations matter more than financial incentives.
High earnings and intrinsic satisfaction can be complementary motivators for entry into a medical career. The study indicates that altruism may significantly impact individuals’ choice to pursue medicine.
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