ILMA Compoundings – September 2019 - 30

the process of attempting to influence
employees through incentives somewhat challenging.
INTRINSIC VERSUS EXTRINSIC
INCENTIVES
Employees are motivated by both
intrinsic and extrinsic factors. Intrinsic
factors are personal needs or beliefs -
for example, the internal satisfaction
that comes from tackling a challenging
project or learning something new.
Extrinsic factors are influences by others - the "attaboy/girl" an employee
receives from a superior.
According to ScienceForWork,
"intrinsic motivation is likely a good
performance predictor ... it's likely
that the more intrinsically motivated
your employees are, the better results
they will have."
Employers certainly want to have
employees on board who are intrinsically motivated, who are willing to
put in time and effort to achieve goals
for personal satisfaction. That doesn't
mean, though, that employers can't
take steps to pave the way for intrinsic
motivation to occur.
For example, if a manager finds that
a certain employee rises to the challenge
of a complex assignment, the manager

30

SEPTEMBER 2019

| COMPOUNDINGS | ILMA.ORG

should look for complex assignments
for that employee. If, on the other
hand, the manager observes that an
employee performs best in situations
where there is less pressure, those are
the types of tasks the employee should
be asked to work on. Some employees
like to work independently; others like
to work as part of a team.
Employees respond differently
to extrinsic rewards as well. Some
employees revel in public recognition - these are the employees who
would love to be recognized at a staff
meeting, given an award, etc. Others,
though, would balk at this type of
public attention and would rather
receive recognition privately.
Research done by Cerasoli, Nicklin and Ford in 2014, involving a
meta-analysis based on 40 years of
investigation into the relationship
between motivation and performance,
determined that "intrinsic motivation
is likely more meaningful for quality-focused tasks." The study found
that "intrinsic motivation explains
35% of performance on these types
of tasks, while external incentives
explain just 6%." Extrinsic incentives
were more linked to quantity-oriented

tasks. According to the research, "The
analysis found they explain 33% of the
results." Quantity-focused tasks also
benefit from intrinsic motivation - its
leverage on performance was 24%.
Generational differences also have
an impact on the power of various
types of incentives.
MOTIVATION BY GENERATION
A Society for Human Resource Management article1 identified the motivational
drivers for each generation.
In summary:
* Traditionalists (ages 75-80) are
motivated by money but also
want to be respected.
* Baby boomers (ages 55-74) prefer
monetary awards, but they also
value nonmonetary rewards such
as flexible retirement planning
and peer recognition.
* Generation X (ages 40-54) values
bonuses and stock as monetary
rewards and flexibility as a nonmonetary reward.
* Generation Y (ages 25-39) values
stock options as a monetary
reward and values feedback as a
nonmonetary reward.


http://www.ILMA.ORG

ILMA Compoundings – September 2019

Table of Contents for the Digital Edition of ILMA Compoundings – September 2019

LETTER FROM THE CEO
INSIDE ILMA
WHAT’S COMING UP
NEW MEMBERS
INDUSTRY RUNDOWN
IN THE KNOW
INTERNATIONAL INSIGHT
MARKET REPORT
ON WITH THE WIND
IN SUPPORT OF SATISFACTION
SUSTAINABILITY HAS ARRIVED
BUSINESS HUB
COUNSEL COMPOUND
WASHINGTON LANDSCAPE
IN NETWORK
MEMBER CONNECTIONS
PORTRAIT
ILMA Compoundings – September 2019 - Cover1
ILMA Compoundings – September 2019 - Cover2
ILMA Compoundings – September 2019 - 1
ILMA Compoundings – September 2019 - 2
ILMA Compoundings – September 2019 - LETTER FROM THE CEO
ILMA Compoundings – September 2019 - INSIDE ILMA
ILMA Compoundings – September 2019 - 5
ILMA Compoundings – September 2019 - 6
ILMA Compoundings – September 2019 - 7
ILMA Compoundings – September 2019 - 8
ILMA Compoundings – September 2019 - 9
ILMA Compoundings – September 2019 - WHAT’S COMING UP
ILMA Compoundings – September 2019 - 11
ILMA Compoundings – September 2019 - 12
ILMA Compoundings – September 2019 - NEW MEMBERS
ILMA Compoundings – September 2019 - INDUSTRY RUNDOWN
ILMA Compoundings – September 2019 - 15
ILMA Compoundings – September 2019 - 16
ILMA Compoundings – September 2019 - IN THE KNOW
ILMA Compoundings – September 2019 - INTERNATIONAL INSIGHT
ILMA Compoundings – September 2019 - 19
ILMA Compoundings – September 2019 - MARKET REPORT
ILMA Compoundings – September 2019 - 21
ILMA Compoundings – September 2019 - ON WITH THE WIND
ILMA Compoundings – September 2019 - 23
ILMA Compoundings – September 2019 - 24
ILMA Compoundings – September 2019 - 25
ILMA Compoundings – September 2019 - 26
ILMA Compoundings – September 2019 - 27
ILMA Compoundings – September 2019 - IN SUPPORT OF SATISFACTION
ILMA Compoundings – September 2019 - 29
ILMA Compoundings – September 2019 - 30
ILMA Compoundings – September 2019 - 31
ILMA Compoundings – September 2019 - SUSTAINABILITY HAS ARRIVED
ILMA Compoundings – September 2019 - 33
ILMA Compoundings – September 2019 - 34
ILMA Compoundings – September 2019 - 35
ILMA Compoundings – September 2019 - 36
ILMA Compoundings – September 2019 - 37
ILMA Compoundings – September 2019 - BUSINESS HUB
ILMA Compoundings – September 2019 - 39
ILMA Compoundings – September 2019 - COUNSEL COMPOUND
ILMA Compoundings – September 2019 - 41
ILMA Compoundings – September 2019 - 42
ILMA Compoundings – September 2019 - WASHINGTON LANDSCAPE
ILMA Compoundings – September 2019 - MEMBER CONNECTIONS
ILMA Compoundings – September 2019 - 45
ILMA Compoundings – September 2019 - 46
ILMA Compoundings – September 2019 - 47
ILMA Compoundings – September 2019 - PORTRAIT
ILMA Compoundings – September 2019 - Cover3
ILMA Compoundings – September 2019 - Cover4
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