Intrinsic motivations are one of the strongest existing drivers to deliver ideas, creativity and innovation, but it’s still very poorly understood.
If you want to motivate people, use cash incentives Innovative thinking is fostered by cash incentives.
Extrinsic motivation, the kind of push coming from an external reason, like a monetary prize, a voucher or a travel reward.
The offered them, for performance, three levels of rewards: small reward, medium reward, large reward.
What happens? People offered the medium level of rewards did no better than people offered the small rewards.
Contest-based prizes: contests create competition, that is an intrinsic motivation itself because of the activity and the natural competitive system built-in in our biology.
High prize visibility: visibility is another intrinsic motivation, because it’s all about social recognition, is about showing how good we are.
Originally published at Cogly.
