The recent global economic crisis brought to the fore the system of flawed incentives that was in place in the investment banks and Wall Street firms. Unless employees are motivated from within, incentives and rewards can only help that much and unless high performers are rewarded appropriately, intrinsic motivation withers away. This is the reason many organizations go the whole distance in aligning incentives with performance. Hence, the strategic fit between intrinsic motivation and extrinsic motivation has to be just right for organizations to get the best from their employees. To explain further, leaders have to be motivated to perform by a strong urge to succeed from within and then the external rewards have to match their performance.Įmployees who are only motivated by external rewards do not make great leaders and conversely, employees who are not rewarded for their performance stagnate and lose morale.
This is clear from the emphasis that HR managers and senior executives place on matching rewards with performance that is first driven from within. The point here is that individuals have to be motivated from within and then they have to be rewarded with external benefits and benefits to achieve the best results in organizations. Intrinsic motivation is the will to succeed by changing oneself from within and extrinsic motivation is the performance that is driven by external rewards. Motivation is necessary for leaders to reach the top and the types of motivation are intrinsic and extrinsic motivation. This trait is motivation, the will to succeed, and the desire to do well, which is an integral part of leadership development. This article looks at one trait of potential leaders that goes a long way in determining the success or otherwise of the leaders.
The previous article introduced the concept of leadership development and the steps that organizations can take to ensure that leaders are groomed by identifying potential leaders and then fast tracking them.