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): 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 - gum.co/MC-CPD Paid resources Management Courses Onboarding Kit - gum.co/MC-ObK ($3) Motivation Graphics Pack: managementcourses.gumroad.com/l/usVxk ($2) RECOMMENDED READING ===================== Get the Kindle eBook that accompanies the course, for just $2.99 (or local equivalent): geni.us/dAPQ For a solid introduction to motivation: HBR Guide to Motivating People 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 geni.us/uq3EBO Start With Why: How Great Leaders Inspire Everyone To Take Action geni.us/vjErAN Lead, Motivate, Engage: How to INSPIRE Your Team to Win at Work geni.us/ABkZEx Multipliers, Revised and Updated: How the Best Leaders Make Everyone Smart geni.us/E39I Payoff: The Hidden Logic That Shapes Our Motivations geni.us/uMaP The Progress Principle: Using Small Wins to Ignite Joy, Engagement, and Creativity at Work 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: 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

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