Formulas for Business Success through Motivation
P = A x M
Performance equals Ability multiplied by Motivation*
Attract and recruit the Ability in the form of best in class employees, then Motivate to maximise their performance.
R = eM x iM
Retention of your best employees requires the combination of extrinsic Motivation i.e. money, awards, recognition for completing work well at the request of the organisation, as well as appealing to the intrinsic Motivation of the individual i.e. purpose, meaning and shared values. The challenge lies in businesses finding a way to turn these intrinsic ‘keys’ through their vision and mission statements and the development of organisational values that resonate with their employees as well as their external customers.
*(Imparato & Harari)