Intrinsic motivation is based on
factors that make people perform tasks without an external incentive behind
them. An interesting example of this is a study done by researchers at Stanford
University. They asked students (who were all psychology majors) to complete
several surveys. One question they were given was whether they had any personal
goals for their future. Researchers then measured students’ self-reported
intrinsic motivation. What they found was that students who reported having
high intrinsic motivation at the beginning of the study scored much higher on
the final test than those who didn’t. For many students, their motivation at
the start of the school year motivated them to complete their assignments and
earn good grades. Their intrinsic motivation helped keep them focused and
motivated throughout the entire year, which may be what kept their performance
so strong.
The purpose here isn’t just to find
out how students can be more intrinsically motivated but also how companies can
motivate employees to do well in the long term. There’s no need to wait until
things go bad before you change your team’s work style — you only have to
implement a company goal, set up a motivational program, and monitor employee
behavior to see if you have an effective way to create positive intrinsic
motivation or extrinsic motivation. You’ll know if you’ve created a motivating
environment by checking in regularly. Companies should get to know how
employees feel as part of creating a motivating culture and ensuring optimal
performance.
Why Are Employees So Much More Likely To Be Successful With A
Goal-Oriented Culture And System?
While it’s true that businesses don’t
always pay attention to employee needs, they do tend to recognize the
importance of setting up a motivational system. However, if you analyze what
factors help increase intrinsic motivation, you can also discover several
characteristics of successful firms like Google and Amazon. According to
Gallup, these two organizations use both intrinsic and extrinsic motivation.
Moreover, they both use these methods in almost identical ways. Both include
rewarding incentives and recognition programs. But one thing stands out about
both companies; they focus even more on rewards than on recognition. Google and
Amazon are known for encouraging regular check-ins, giving new opportunities to
grow both professionally and personally, and offering feedback and praise.
Thus, internalization of a motivational company philosophy helps individuals
and teams become more productive.
So now that we know what intrinsic
and extrinsic motivation is, let’s talk about how businesses can create it,
including tangible examples. Here we’ll take a look at three excellent
strategies to attract and retain top talent.
3 Strategies Companies Can Use For Top Talent Retention
1. Rewarding Team Members
Rewards play a crucial role in
retaining top talents. It acts as a natural motivator and makes employees feel
valued. Rewards are usually something tangible that everyone can do with, such
as free lunch or drinks. When used right, they motivate employees and make them
want to stay with the organization as a whole. Organizations must take
advantage of rewards and treat all employees fairly, especially talented ones.
At times, these might include promotions, bonuses, or other offers. Even small
incentives are effective in incentivizing valuable staff members. Consider
using a token economy strategy to offer financial benefits to employees who
reach certain milestones toward achieving a specific goal. By providing
rewards, companies can create a sense of belonging and loyalty. Such schemes
are especially useful for maintaining a workforce when resources are scarce,
such as during peak seasons.
2. Creating Growth Opportunities
Many large corporations today promote
a growth mindset as a key factor for success. This growth mindset sees
challenges positively and encourages employees to take ownership over their
careers. Employees who enjoy growth opportunities will likely feel like they
belong and contribute more to the corporation overall. Growth opportunities
come in many forms. If you aren’t sure how to develop your own, consider hiring
some professional development coaches. Ask someone who has recently made major
career changes about where their next big challenge lies. Most importantly,
find managers with a growth mindset themselves, so you can relate to their
struggles and the difficulties they overcome. Finding inspiring leaders with a growth
mindset can help employees recognize their strengths and improve their skills.
Leaders with a growth mindset are often able to inspire others — their
willingness to learn and grow is infectious. Having a mission-driven leader who
is a growth contributor further fuels a positive mentality around the
workplace.
3. Building Trust Through Feedback
One important component of developing
and nurturing a top talent retention strategy is establishing trust between
employers and employees. Developing open communication lines among staff
members and sharing relevant information with them helps keep employees engaged
and interested in staying within the organization. Asking questions about
expectations, performance standards, and achievements builds a relationship of
trust. Without this kind of openness, there is no way to truly know the status
of each individual on the team. Once a manager has seen how every member
contributes to the organization, your employee starts to gain confidence in his
or her abilities. As said above, employees look for evidence showing how their
contributions contribute to the business’ goals. Your job is to ensure that
everything is aligned well for employees to feel confident expressing
themselves and giving feedback.
Why Do You Need To Create Internalized Managers?
Employees want autonomy. They want to
spend time working on projects they care about. And, when they achieve those
goals, they’ll be less likely to take on management tasks in the distant past.
When managers treat their staff as equals, employees will feel trusted and will
work harder for the company. If you do this, your workers won’t ever lose
interest in leading their lives. In this case, managers who instill a leadership
mindset with their subordinates have an easier time handling difficult
situations compared to employees who don’t take ownership of their professional
life. Hence, employees tend to bring more energy into the organization and feel
invested in its future.
Conclusion
Companies need a growth mindset, an
open communications channel, and clear expectations. Each of these elements
plays a vital role in keeping your organization going smoothly.
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