Basics of Motivation: Incentives – do they work?
One thing most people ‘know’ about motivation is the value of incentives. The problem is… Incentives don’t always work.
So, in this video, we’ll look at when incentives do and do not work and understand why.
Watching this video is worth 3 Management Courses CPD Points*.
(See below for more details)
This video is part of course module number 3.7.1
Program 3: Managing and Leading Individuals
Course 7: Motivation
Section 1: The Basics of Motivation
Primary videos that precede this video include:
– Introduction to Motivation https://youtu.be/hbPGqPLv2s4
– The Fundamentals of Motivation – Motives, Drives, and being Blocked https://youtu.be/IVjnAZ-8-dY
Primary videos that follow this video include:
– The Psychology of Motivation: Understand the Basics https://youtu.be/rIOTk5mlpyo
– Basics of Motivation: Building Morale in your Team https://youtu.be/LmRx7R2aQr8
Process Models of Motivation
– Elton Mayo and the Hawthorne Experiment https://youtu.be/jRMO43s5NGY
– Victor Vroom and Expectancy Theory https://youtu.be/WDgF7Avijlc
Content Models of Motivation
– Abraham Maslow and the Hierarchy of Needs https://youtu.be/gz5zNx3KnrE
In motivation, there are two types of motivator:
1. Intrinsic motivators
…such as autonomy, interest/meaning, relationships
An increase in intrinsic motivators leads to sustained increases in performance and productivity
2. Extrinsic motivators
…such as salary, bonus, status
Incentives are intrinsic motivators
An increase in extrinsic motivators gives temporary increases in performance.
This leads to a need to constantly increase incentives
What are the key Intrinsic motivators?
• Responsibility (or autonomy)
• Reasons (or purpose)
• Reaching (or growth, mastery)
1. To what extent does your workplace make use of incentives to motivate you and your colleagues? How consistent is this with the prevailing culture in the country and industry within which you work? What are your observations about how well incentives work as motivators for you? And for the people around you? (3 MC CPD Points)
2. Think about each of the six intrinsic motivators. As a manager, you can work with each of these to motivate your team members. Think of ways you can use them to increase motivation in your team. (3 MC CPD Points)
3. Take the best ideas you had in part 2 and make a timetable for putting them into practice. (1 MC CPD Point)
4. Follow your plan for testing out the intrinsic motivators with your team. Discuss motivation with them. Observe the impacts of changes you make. (4 MC CPD Points
For a solid introduction to motivation:
– HBR Guide to Motivating People https://geni.us/sO2IKgn
The best of modern thinking on motivation, in accessible business books. These are all modern classics:
– Drive: The Surprising Truth About What Motivates Us https://geni.us/uq3EBO
– Start With Why: How Great Leaders Inspire Everyone To Take Action https://geni.us/vjErAN
– Lead, Motivate, Engage: How to INSPIRE Your Team to Win at Work https://geni.us/ABkZEx
– Multipliers, Revised and Updated: How the Best Leaders Make Everyone Smart https://geni.us/E39I
– Payoff: The Hidden Logic That Shapes Our Motivations https://geni.us/uMaP
– The Progress Principle: Using Small Wins to Ignite Joy, Engagement, and Creativity at Work https://geni.us/tiEkeH
Management Courses Continuing Professional Development (CPD) Points
You can record your Management Courses CPD points on our free, downloadable CPD record log.
Download it here: https://gum.co/MC-CPD
Each video has two levels of MC CPD points. For this video:
– If you simply watched the video, record 3 MC CPD points
– If you also carried out all of the recommended exercises, score a total of 14 MC CPD points
Links to our book recommendations are affiliated through Amazon