CNBC: Inside Employee Motivation: Does Money Really Make a Difference
November 26th 2012
“How do you keep your employees motivated? How do you show them that their work is valued? Many small business owners use bonuses or raises, and while everyone loves a little extra cash, motivating your team with money may not be as effective as you think. When used poorly, monetary rewards can feel like coercion, an effect you see in the classic carrot-and-stick approach to motivation.
“Unless you’re extremely careful with how you use rewards, you get people who are just working for the money,” said Edward Deci, a human motivation psychologist at University of Rochester.”
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By Nadia Goodman