Different organisations operate in different markets, with different levels and types of skills required. However, all employees need incentives/motivation to complete the job to the best of their ability, and this is why it is important organisations ensure they retain a motivated workforce who are keen to further their development with the organisation.
"People are our most important asset", ... "All we have is our people", are statements we increasingly hear, and statements which are all too often unsubstantiated by reality... the actuality of organizational life is that they do not feel they are treated as the most important assets" (Gratton:2010). This therefore emphasizes the importance organisations have to place on motivating their workforce. "Work and private life in the new millennium will continue to revolve around the 12 human needs" (Farren:2000). The 12 human needs (Fig.1) underpin what motivates humans; these can be categorised into two simple divisions, intrinsic motivation and extrinsic motivation.
As explained by Mullins (2011), "extrinsic motivation is related to 'tangible' rewards such as salary, fringe benefits, security and working environment; such rewards are often out of the hands of line managers and are often determined by the Human Resource Department of the organisation. On the other hand, intrinsic motivation is related to the 'psychological' rewards such as the opportunity to use one's ability, a sense of challenge and achievement and receiving appreciation; this type of motivation is usually determined by the behaviour and actions of managers. For an organisation to retain a motivated workforce they