$5 Now or $10 Later? 10 Ways to Boost Compensation’s Impact

Posted by Justin Lane on Mon, Jul 22, 2013

Have you ever heard of hyperbolic discounting? It’s the concept that people are willing to take smaller rewards sooner, rather than larger rewards later. For example, ask yourself the question, "Would you rather have $5 today or $10 in a month?" If you are like most people, you will take the $5 now—a response that has huge implications for compensation administration.

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