Reward effort, not outcomes, says CEO of Google and Alphabet Sundar Pichai. What do you think?

I don't work for pay. Although, of course, I receive a salary. I have several goals in life. And I go to them. This is the strongest motivator for me. And the reward is just a concomitant.

There cannot be outcome without effort

I lean towards outcomes, but specifically in the long run. If someone makes mistakes, that's okay; if they learn from it and apply those learnings later on, then in the long run we should stronger outcomes and results. A focus on effort doesn't necessarily emphasize working smart, learning and improving - effort for efforts sake can lead people to work long un-focused hours and yet not achieve.