Free How Effective Are Incentives? Essay Sample

This essay will help decide the effectiveness of incentives in response to bringing about a change in the behavior of individuals. An incentive can be described as a tool used to motivate individuals to perform a certain action. Every individual or organization requires some incentive that pushes them towards achieving certain goals and objectives.
Motivation can be referred to a drive that pushes individuals to achieve certain goals whereas incentives can be described as the “pull factors” which pull individuals toward it. A renowned behavioral psychologist B.F Skinner, who exclaimed that individuals are motivated by ‘outside or extrinsic’ factor or incentives that lead them towards exhibiting a certain behavior initially developed the ‘incentive theory.' For instance, monetary or non-monetary rewards an individual might receive.
For example, the boss announces a big promotion for the person who achieves more than his/her target. It would act as an incentive for all employees to work harder as they would be more determined to achieve this promotion. Incentives can either be monetary or non-monetary. Monetary incentives include bonuses, cars, higher salaries, etc., whereas non-monetary benefits include recognition, promotion, satisfaction, etc.
However, intrinsic factors may also act as incentives to motivate workers to work harder. Employees may work hard to for self-satisfaction or to achieve happiness. Behavioral change in humans can only occur through the provision of incentives. Human wants cannot easily be satisfied as they are unlimited. Therefore, it becomes crucial to keep certain incentives to motivate them.
Therefore, every organization must keep certain monetary and non-monetary benefits if they desire for their employees to work hard and meet the organization’s goals effectively.