Question

The excitement of being a new manager has started to wear off.  Your boss is pressuring you because you need your team to work faster. You need to find a way to motivate them! Based on your psychology class, you realize that you have two choices.

CHOICE 1 - Praise. You could focus on those who do really well and praise them for their success. There will be a bulletin board that highlights those employees with the best performance.  

CHOICE 2 - Pay. For those employees who produce more ,they get paid more. The top 5% get a big raise.  

Which choice do you make? This is really important because your end of year bonus depends on your team's productivity. In your discussion post, share which choice you make and how that connects to what you have learned about motivation.

Answer 1

• Since my teams' performance and productivity needs to be improved I would motivate them by using intrinsic motivation that is praise.Motivation using monetary ‘carrots’ – such as perks or financial compensation – has a weak exchange rate with today’s knowledge worker, for whom the most valuable currency is recognition.Though necessary, these extrinsic motivators [perks, promotion, pay] don’t necessarily excite people to work smarter or harder. Instead, they prompt employees to do only the minimum required to get that next raise or job title.
• Recognition and praise translates to retention and increased effort. It is indicated that employees who are praised receive higher loyalty and satisfaction scores from customers, and even enjoy better health than employees who are not.
• Providing my team with praise will help them to up their game and upgrade their skills,provide them more challenging opportunities to showcase their knowledge and skills will motivate them further and help in their personal growth and development.
• Recognition comes in many forms, and it’s largely up to you and your good people management skills how well you execute it. Some employees would be greatly stirred by a formal recognition in front of other colleagues, such as a certificate or a team lunch, while others would prefer some extra praise and insight from yourself. What’s certain is that we all get a kick out of being acknowledged for a job well done.
• So,definitely,praise works better than money after a certain period of time,sincenot being appreciated for your work can de-motivate anyone and lead to quitting the job.An employee needs challenging work to do and be praised for their achievements as well so they know that the company values them and considers them important contributors.