What Things Can Motivate a Person?
Many people are driven by money, fame, power, and control.
Others seek power, fame, and influence.
But the greatest motivator of all maybe money.
Having money can buy many things – from materialistic nice things to freedom.
Many businesses rely on financial incentives to keep their employees motivated and engaged in their work.
But what motivates people the most?
Read on to find out.
The answer to this question will surprise you!
Motivation comes from money
According to the theory of the motivation by the equity principle, the reward of money must be seen as fair by most members of the organization. The amount of money to be awarded to an employee must be directly related to their performance, and the money must be immediately available to the employee. In addition, money can only motivate when the prospective payment is high compared to the income of the individual. In other words, money has the potential to motivate employees only if it is a fair and substantial amount, which is often the case.
The psychology of money explains the power of money as a motivator. The expectation of future rewards and pay that is contingent on performance encourages high levels of effort. Similarly, employees perceive money as a source of satisfaction when their pay is tied to their performance, and they use it to achieve goals. According to Edwin Locke, an industrial psychologist and Dean’s Professor Emeritus of Leadership and Motivation at Harvard University, “the power of money as a motivator depends upon the extent to which employees perceive it as a means of satisfying their goals.”
The difference between intrinsic and extrinsic motivation is significant. While intrinsic motivation comes from an individual’s desire and willingness to perform a task, extrinsic motivation stems from outside influences. These outside rewards may be negative or positive. Extrinsic motivation often leads people to perform unrewarding tasks because they’re more focused on the reward than their own motivation. However, these rewards are a necessary and valuable reward.
Desire to win
A person’s fear of losing in important battles or in competitive games may be a form of desire to win. However, the fear of losing is not only a motivation for professional athletes and game players. Even ordinary people may be motivated by the fear of losing, but the real reasons are not well understood. However, you can tap into a person’s desire to win by recognizing the small victories along the way.
Giving someone a public commendation for a job well done can motivate them. Employees often feel ignored, which makes them two times as likely to quit the company the following year. Public recognition, however, is a little different. It should be specific to one individual and should not become an expectation in the workplace. This article outlines the various ways recognition can motivate a person. Listed below are some ideas for how to show your employees that you appreciate them.
Employee recognition can be in the form of monetary rewards for good work or a public acknowledgement for contributing to a company’s goals. However, employee recognition is an equally powerful way to make your staff feel appreciated and valued. Many employees report that they feel more motivated when they receive monetary rewards. Moreover, monetary rewards can increase employee retention rates, since employees want to feel valued at work. Employee recognition can make a huge difference in the motivation and retention of employees.
Public recognition can boost self-esteem. Providing recognition for employees’ achievements can also boost their self-esteem and reinforce their value to the company. Employees who receive recognition are more likely to repeat the behaviour in the future, which will increase their productivity. However, it is important to remember that praise has a limited life. It is crucial for management to acknowledge the efforts of employees in the workplace, because it can lead to demotivation or worse, laying off employees. In such a case, the overall productivity of the company will decrease.
If you are considering giving recognition to your employees, you should keep in mind the personality type of each employee. While some introverted workers are more likely to be triggered by praise from superiors, others prefer subtle gestures. The key is to identify each employee’s personality type and openly encourage them to perform at their best. Recognition from superiors or coworkers also validates the good work. This in turn increases job security and promotion prospects.