In business, the inner need to act or accomplish tasks known as motivation occurs more when "greed" is present. If I do this, perhaps I will get a raise or a bonus. I'll admit this thought has crossed my mind. If I don't accomplish this, I may lose my job. Some of the biggest motivators in our lives are the need to have enough money, and to live comfortably.
Motivation in Sales and Marketing
Motivation in the sales and marketing spheres is not hard with a bonus system in place. By rewarding the top performers with bonuses, you are surely motivating people to go out and do everything they can to get those extra rewards. The competition in such an atmosphere can turn brutal at times, but there is no denying the effectiveness of bonuses for stimulating higher output.
Highest Motivational Performance Factor
Pay per performance can be a far more powerful motivation factor. On top of the annual raise, profits are set aside and given out to employees in proportion to their annual contribution to company performance. Yearly salary increases, end of the year bonuses, and other such incentives will practically motivate employees to walk on water but for those who like performing to superior levels and being rewarded for doing so, the results are undeniable.
When you pay per performance, you truly motivate people to perform at their best. A percentage of the profits are set aside every year and distributed to employees in direct proportion to their contribution to their performance throughout the year and it is in addition to their salary. By increasing pay, giving out annual bonuses, and treating employees in this manner, there will be those who do very well in such a system but also those who simply cannot compete and thus do not receive the really nice perks.
Some people simply don't have the ability to perform at rocket-science levels every day, or even some days. It's best to gauge your motivational technique to the workforce with which you are dealing. For instance, an announcement to your office staff on Monday that 100% attendance for the entire week receives a reward like a "gift certificate worth $50" is bound to encourage an increase in attendance.
There will always be employees incapable of maintaining an elevated performance level throughout the year, and those who cannot do so throughout most weeks. You must constantly assess the effect your incentives are having upon the workers. Attendance will naturally be better if you give out $75 to anyone with perfect attendance for a month. But would it work if you offered the same amount for a year?
I like it best when I am told what needs to be done and left to my own devices to see it through to completion. Unless I said something to him, my boss would leave me alone to do my work. But, if I shot him an e-mail stating that I needed to talk to him, you can bet he was giving me a call within an hour because he knew I was not the type to just talk to people about things unrelated to work.
Within a few months, my boss and I had our relationship down solid. He trusted that I was steadily pounding out the work and that if I did send that e-mail asking him to call me, it probably was not to talk about who won the game the night before. Before long, I was pulling in those bonuses mentioned earlier!