When we think about motivating employees in the corporate environment, Maslow's Hierarchy of 5 Needs is often used as a way to justify the types of recognition or rewards offered. However, the best companies that are committed to motivating their employees to personally identify and reach a higher performance potential. Why? High potential employees are more effective and thus more valuable to the organization. Employees who are motivated to increase their skills, improve their behaviors, and grow personally – are more flexible and can transfer what they learn to their jobs.
So what motivates people? Take a look at two types of motivation - intrinsic verses extrinsic – to see what can be learned for recognition and rewards use in business.