Setting up a high performance culture helps
organization confront market challenges and ensure sustainable growth. This is
the key responsibility of a manager to set expectations, motivate staff, define
responsibilities, and create a collaborative work environment for the
organization. However, creating a high performance culture in a favorable
manner needs a full support and equal contribution throughout the organization.
Many organizations consider things like
employee empowerment, customer-centric strategy, effective communication,
training & development, and cash incentives as the motivation to encourage
their employees to deliver their best.
Cash incentives without a doubt are one of
the top motivation factors that encourage employees to work effortlessly and
efficiently for a high performance culture. However, there is no shortage of
organizations that are under the impression and not sure whether cash
incentives boost the performance of workforce.
To establish a high performance culture, two
types of motivation works – intrinsic and extrinsic. Research shows that for
complex tasks, intrinsic motivation leads to higher performance. Also, it
depends on the mindset of employees, if they find their job enjoyable and interesting,
they will work harder and with greater focus. Bonuses or Cash rewards are the
forms of extrinsic motivation. Read more…
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