Join Todd Dewett for an in-depth discussion in this video Using monetary motivators, part of Motivating and Engaging Employees (2013).
- We all expect a decent wage for the work we do.…But beyond basic compensation,…there are plenty of additional ways to use money…as a part of your overall motivational efforts.…Now we just spoke about how research shows…that money isn't always the best motivator.…However, there are times when it's appropriate to use money.…Just remember to never allow extrinsic motivation…to harm intrinsic motivation.…While money and other incentives can play an important role,…they shouldn't be the sole or dominant approach…to motivation. When money becomes a singular focus…for motivating your employees, they can forget about why…the work matters and instead think only about the rewards.…
When this happens, employees move towards safer behaviors…instead of risk taking in the name of innovation.…I also want you to remember that all rewards…must be provided contingent on performance.…Stated differently: we must connect the use of all rewards…with the production of excellence.…Not good performance, not meets expectations, but…
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- Assessing employee engagement
- Providing autonomy
- Building a transparent culture
- Modeling desired behavior
- Using monetary and nonmonetary motivators
- Fostering accountability
- Developing career paths for employees<br><br>
- The PMI Registered Education Provider logo is a registered mark of the Project Management Institute, Inc.