Unit 6 Discussion Board: Intrinsic or Extrinsic Motivation?

Compensation in the workplace is the most important aspect of an employee’s

productivity. The right compensation and benefit package can encourage and motivate them to

put in their best for organizational advantage (Leonard, 2019). Compensations in forms of

salaries, wages, commissions, and bonuses help to attracting excellent talents for organizations.

Good compensation packages will help attract the best potential employees to the company.

Similarly, compensation increases employee motivation and increases overall morale. When the

right bonuses and commissions are given to employees, they become a focal point for success.

Additionally, well paid employees are happy and their loyalty are boosted, prompting them to

remain longer and increase their productivity and the company’s profitability. They are satisfied

with their jobs and they feel a stronger sense of belonging to the company’s success story.

References

Leonard, K. (2019, March 1). Importance of compensation in the workplace. Small Business -

Chron.com. https://smallbusiness.chron.com/importance-compensation-workplace-38470.html

Companies have stepped up their strategies to retain employees and have always looked for more

ways to ensure that employees have meaning and purpose in their professional lives. Employers

have increased employees’ responsibilities and the feelings that they are contributing want to

feel a sense of purpose and that that they’re really contributing to and making a difference

motivates employees. They can be highly motivated by the company culture, especially when the

company looks out for their wellbeing and value the employees.