ENTREPRENEURSHIP

Detailed explanation-1: -Motivation Factors are challenging work, recognition, responsibility and personal growth. Research shows that pay raises won’t turn us into a productivity machine. In fact, giving creative people bonuses demotivates us and leads to poorer performance.

Detailed explanation-2: -To achieve higher engagement levels, you’ll need to work on the aforementioned intrinsic reward factors. Pay equity-the feeling that one’s pay is on par with those around them-is thought to be a very powerful motivator (or de-motivator, depending on the situation).

Detailed explanation-3: -Extrinsic motivation in the workplace commonly takes the form of tangible rewards (such as salary, bonuses, and vacation time); however, it can also be psychological in the form of benefits and perks.

Detailed explanation-4: -Herzberg, as noted, said that money is not a motivating factor for workers. He developed what is referred to his motivation-hygiene theory or dual-factor theory.