Intrinsic And Extrinsic Motivation In The Workplace

Introduction

In today’s business, maximization of profits represents the principal feature of business operations. In order to achieve the highest profits, companies have to manage their human resources effectively. Thus, employee’s motivation has emerged as a critical component, it holds the key to the success of a company. Therefore, human resource managers must motivate their employees to let them perform to their best and achieve the organizational goals. Motivation is the force that pushes us to do things: It is a result of everyone needs being satisfied so that employees have the inspiration and ability to complete the respective task given. So will employees be motivated and perform to their capability by giving them good welfares, benefits and money? Money makes the world go round, it can be considered as an engine to push human’s limits but peers motivation and intrinsic desire to a good job are the real motivators in today’s workplace.

Intrinsic and extrinsic motivation

There are two types of motivation, intrinsic or extrinsic. Intrinsic motivation being employees are interested on the work because it is personally interesting, rewarding, challenging. Job satisfaction and the achievement of your personal goals are some examples of intrinsic motivation. Extrinsic motivation being employees work solely for the reason to receive a reward or the outcome. Extrinsic motivated employees are more concerned about the end results (pay raise, benefits, and promotions) than