How can intrinsic motivators and extrinsic rewards blend to maximize productivity?
How do social needs motivate behavior?
What are the various rewards available in today's workplace, at the company level, and at the manager-to-employee level?
How can you assess employee needs to tailor effective rewards?
How intrinsic motivators and extrinsic rewards blend to maximize productivity:
Intrinsic motivators are non financial motivators that give a person satisfaction through intangible rewards. These are often achieved through providing recognition, training and development and effective systems of promotion. These motivators often awaken and keep alive the interest in people on what they do. to produce greater intrinsic motivation, the value of the individual needs to be considered as people often get motivated when they feel that they part of something greater, or when they have a decision making or accountability role or are part of a high performing team. This is because when the employee partakes in these activities they are able to increase their self worth and self concept and often try to maintain it or increase it by working even harder since they get satisfaction from the feeling of doing something worthwhile. Extrinsic rewards on the other hand are material, mostly financial motivators to employees. It mainly involves providing an attractive compensation package and performance credits such as performance bonuses (D'Ausilio, 2008).
In order maximize productivity it is essential that these two motivations be used in appropriate blends in order to motivate employees. A well balanced mix of motivation is important in increasing employee motivation levels where motivation has been viewed as a key determinant tool in increasing productivity (Dems, 2010).
Extrinsic rewards have been found to hurt the intrinsic motivation of individuals since their innate desire to do something on their own is usually removed or reduced. It is therefore imperative that a balanced mix be used in motivating employees. Though extrinsic ...
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