John Marcante, managing director and chief information officer of Vanguard, thinks rewarding innovation has less to do with money and more to do with recognition.
Watch the video or read the transcript below.
"It's fun because at the end of the day, every time we elevate something that's innovative that comes out of this process, we'll celebrate with a lunch, we'll celebrate with a congratulations. It's less about money, it's much more about recognition. I think what we have found in the past is, yeah, we used to give away some monetary awards. Monetary rewards don't motivate people, what motivates people is coming in every day, bringing your whole self to work, doing something that you are passionate about and then getting recognized for it."
Read, "A five-step model for successful IT innovation."
John T. Marcante is Vanguard’s chief information officer and managing director of Vanguard’s Information Technology Division. Vanguard is the world’s largest mutual fund company with more than $2.6 trillion in global assets under management. Marcante oversees all aspects of Vanguard’s worldwide technology agenda to serve clients and manage investments. Mr. Marcante, with more than 26 years of experience in the business and technology fields, joined Vanguard in 1993. After serving in a number of leadership roles throughout the company, he returned to the IT division in 2012 and was named Vanguard’s chief information officer and managing director. Marcante holds a Bachelor's degree from Pennsylvania State University and an M.B.A. from Saint Joseph's University.
