We are motivated by goals and needs, focused by tasks and objectives and driven by incentives. How does human psychology play a role in the success of business? Let’s first look at motivation; what is it that motivates us?
While each person is different in their motivation, there are two basic driving elements – they are called intrinsic and extrinsic motivators. Intrinsic motivators are those that satisfy our basic needs of survival such as water, food, shelter, job security, social interaction. Extrinsic motivators are those that are generated by rewards. Achieving goals and being rewarded for them is an extrinsic motivator. Competing against and winning against your competitors is an extrinsic motivator. Without the basic satisfaction of intrinsic needs it is difficult to stay focused. Without focus it is difficult to achieve goals and remain motivated. Without clearly defined goals there is no motivation towards achievement. Without the planning and execution of the tasks and objectives to reach the goals, there is no focus and no direction. If there are no goals to achieve, then the extrinsic motivator of reward also does not exist because there are no results to measure.
One of the most important aspects of setting goals is making sure that they are SMART. This acronym stands for specific, measurable, achievable, realistic and timely. Goals need to be specific, measurable, achievable and realistic, and also have a finite time frame in which to achieve those goals. Without smart goals you set the precedent for de-motivation, for as soon as people feel there is no light at the end of the tunnel, they naturally become frustrated and de-motivated. When people become frustrated their performance suffers and ultimately the company suffers from a lack of performance and also their lack of creativity in innovating new ideas.
The task of every company is to make sure that smart goals are set and motivators are in place to ensure the success of their business and always remember that people are greatly influenced by actions or inactions. What is it that motivates you? We’d like to hear your thoughts.
By Frank Arteaga, Head of Product Marketing, NAFTA Region
Bystronic Inc., Elgin, IL – Voice.email@example.com