The value and importance of intrinsic motivation over extrinsic motivation in companies

Abstract

Motivation is the interest and desire for an individual to perform a task. For any company to succeed, the prime driving force is its employees. The concept of motivation has become more important and valued than ever before with the modern economy and heavy competition between companies leading to exhausting employees very often. Every company has extrinsic motivation in the form of financial rewards, bonuses and other fringe benefits for an employer to keep an employee motivated, but the authors in this paper argue with empirical backing that intrinsic motivation is more valuable for employees in the organisation though the presence of extrinsic motivation is not ruled out completely.