Explain the various theories of motivation.

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Various theories of motivation:-

1. Incentive theory

The incentive motivational theory suggests reinforcement, recognition, incentives and rewards motivate people. The incentive theory also proposes people may display certain behaviors to achieve a specific result, incite a particular action or receive a reward. Here are a few examples of incentives in the workplace:

• Bonus: A bonus is a reward you may give to an employee based on their performance levels over a period.
• Praise: Praise can be useful for one-on-one situations, such as quarterly employee reviews. You can praise an employee by giving positive feedback about their performance, which may build your relationship with them and promote trust.
• Opportunity: Providing opportunities like paid training or continuing education may give your team an incentive to increase their knowledge in a specific field and develop their skills.
• Promotion: Providing an opportunity for career advancement often is one of the most influential incentives a manager can offer because it can give an employee a feeling of importance and growth. A promotion may include an advanced job role, a new job title or a salary increase.
• Salary or wage: Offering a pay raise or salary increase is an incentive management teams often find effective. For optimal results, consider using salary or wage incentives for individual employees rather than all employees and departments within a business.
• Paid vacation or time off: Consider offering employees compensation for taking days off or giving them additional vacation days. An employee may value this incentive if they're planning for a family vacation or want some extra time to rest at home.

2. McClelland's need theory

McClelland's need theory proposes there are three different needs most people have, and each need corresponds to a type of person who feels motivated to address that need. Understanding McClelland's need theory can help managers identify employee needs, which may give them the ability to place their employees in situations where they can thrive and reach their goals. Analyze these three needs to determine which incentive may work ________ _________ __________ ________ _____________ ______ ________.
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Degree : BACHELOR DEGREE PROGRAMMES
Course Name : BACHELOR OF ARTS
Course Code : BAG
Subject Name : Industrial/ Organisational Psychology
Subject Code : BPCE 146
Year : 2022 2023