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.

Get the Kindle eBook that accompanies the course, for just $2.99 (or local equivalent): https://geni.us/dAPQ

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    • Introduction to Motivation: Key Quest...  
The Fundamentals of Motivation - Motives, Drives, and being Blocked    • The Fundamentals of Motivation - Moti...  

Primary videos that follow this video include:
The Psychology of Motivation: Understand the Basics    • The Psychology of Motivation: Underst...  
Basics of Motivation: Building Morale in your Team    • Basics of Motivation: Building Morale...  

Process Models of Motivation
Start with:
Elton Mayo and the Hawthorne Experiment    • Elton Mayo and the Hawthorne Experime...  
Victor Vroom and Expectancy Theory    • What is Victor Vroom's Expectancy The...  
Content Models of Motivation
Start with:
Abraham Maslow and the Hierarchy of Needs    • Abraham Maslow and the Hierarchy of N...  

LESSON NOTES
=============
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?
• Recognition
• Relationships
• Respect
• Responsibility (or autonomy)
• Reasons (or purpose)
• Reaching (or growth, mastery)


RECOMMENDED EXERCISE
======================
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

DOWNLOADS
===========
Free Resources
CPD Tools - https://gum.co/MC-CPD
Paid resources
Management Courses Onboarding Kit - https://gum.co/MC-ObK ($3)
Motivation Graphics Pack: https://managementcourses.gumroad.com... ($2)

RECOMMENDED READING
=====================
Get the Kindle eBook that accompanies the course, for just $2.99 (or local equivalent): https://geni.us/dAPQ

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
___

Note:
Links to our book recommendations are affiliated through Amazon

#Motivation #Incentives