According to one source, unhappy employees cost the US $550 billion in lost productivity yearly. However, you can seriously boost productivity levels and improve your bottom line once you figure it out. In that case, you’ll not only waste time and money but also lose the interest of your top performers.įinding out what motivates employees is no easy feat. Suppose you spend all your time trying to incentivize great performance through external motivators when an employee’s motivation lies within. Understanding intrinsic and extrinsic motivation is key to performance management. This is where the subjects of intrinsic motivation and extrinsic motivation come into play. To truly engage our workforce, we must determine exactly what makes our employees tick. By understanding both types of motivation, you can create a workplace best suited to your employees’ needs. However, extrinsic motivators can also be useful in certain situations. ideally, you want to create an environment that fosters intrinsic motivation, as intrinsically motivated employees are more likely to be productive and happy with their work. Intrinsic motivation comes from within an employee, while extrinsic motivation comes from external factors, such as rewards or punishments. If you’re an employer, it’s important to understand the difference between intrinsic and extrinsic employee motivation.
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