There are many different techniques that can be used in order to reward employees for a job well done. It is crucial for businesses to analyze these different methods and implement the ones that work best for them. There are many practices that a company may choose to utilize in order to motivate its team. There are extrinsic and intrinsic rewards, positive and negative motivators, as well as differentiating between individual and team or group rewards. The purpose of this paper is to examine the different methods of motivation as an attempt to find the one(s) that are most appealing to employers, individuals, and/or teams.
What is the most influential way to reward workers? This is a critical question that has been pondered by many companies and employers, in which there has not yet been a definitive answer. Managers evoke various processes in order to induce the most superlative results for their company's welfare.
Many of these managers have never received formal managerial training with regards to motivating their employees; however, they tend to revert to means in which they have been exposed through their previous superiors. Depending upon the company's needs, an individual motivational approach may be more beneficial than a group approach, or vice versa. Companies have also popularized the idea of mixing these two customs, as a way to maximize effectiveness.
Some employers focus on group or team rewards and have found that this is the most efficient alternative. However, other employers have determined that group rewards create hostility between higher and lower producers within the group because all members of the group receive the same rewards, regardless of performance levels. For example, in some situations, the overall quality of a team could be carried by only a few of its colleagues; this scheme tends to frustrate...