The phenomenon that companies need to pay their employees for good performance has proved to not necessarily be true. Although all companies obviously need to pay their employees for the work that they do, it is not the most important factor in motivation. In order to receive the best performance from employees, companies should combine intrinsic and extrinsic rewards. Not only should employees be compensated with payment for their performance but they also need to feel accomplished to truly be motivated.
Studies have been done that show employees who feel a connection with others at work along with a sense of accomplishment and achievement from completing tasks are much more motivated overall. It is no longer enough for companies to reward bonuses as compensation, these rewards do not speak to a person’s psychological needs. For companies to truly get the best performance out of their employees they need to tap into each individual’s creativity, allowing them to feel that their personal values are aligned with those of the organization. When intrinsic and extrinsic rewards are combined the outcome is much more effective to the organization than when either reward is given alone.
Which reward, intrinsic or extrinsic, is more important in motivating you to complete a task?
Posted By: Lesley Pfeifer
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