If you truly want to know how to properly manage and motivate your employees to excel at work, knowing a bit about Intrinsic Motivation may help you.
The shocking results of this research will show you how to instill in your staff passion to get the job done and make the business succeed.
Instantly, you may think monetary rewards and incentive programs would be key. I mean, what better way to propel employees to work harder than give them more money, right?
But in fact, that’s WRONG!
Yes, it may seem to defy logic, but several studies and incentive experiments prove that monetary rewards for better performance often used in companies do not always work.
To give you more insight on this fascinating topic, here’s a very interesting presentation from a talk by Dan Pink for RSA. It reveals the hidden truths that will really get your employees going.
If you don’t have time to view the video right now, take away these highlights:
- For simple, straight forward tasks, reward incentives work.
- For complicated tasks requiring conceptual and creative thinking, reward incentives do not work.
Money as motivator:
If you don’t pay enough, people won’t be motivated to work; BUT
You only have to pay people just enough so that money will not be an issue for them at work.
And of course, the most important lesson from the talk, the three factors that lead to better performance and personal satisfaction in people, which are:
1) Autonomy: the desire to be self-directed.
2) Mastery: the urge to get better at stuff; getting better at something is satisfying.
3)Purpose: having a transcendent purpose; companies that are flourishing are usually driven by purpose, such as helping others or some cause in the world.
To get a better idea of what it’s like to work at a particular company and see their approach to employee motivation and rewards, check out BeyondJob’s list of thousands of company reviews!
Contributing sources: Ready to be Rich & RSA
