Successful Management by Motivation: Balancing Intrinsic and Extrinsic Incentives
Bruno S. Frey, Margit Osterloh (auth.), Professor Bruno S. Frey, Professor Margit Osterloh (eds.)Motivated people are crucial to create a sustainable competitive advantage for your company. Successful Management by Motivation shows that in a knowledge-based society, this goal cannot be achieved by extrinsic motivation alone. Pay for performance often even hurts because it crowds out intrinsic motivation like work morale. To succeed, companies have to find ways of fostering and sustaining intrinsic motivation. With the help of in-depth case studies, representative surveys, and analyses based on a large number of firms and employees, this joint work of business researchers and economists identifies the various aspects of motivation in companies and shows how the right combination of intrinsic and extrinsic motivation can be achieved.
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