Empowering Your Team by Balancing Intrinsic and Extrinsic Motivation

As a multi-unit franchisee, you’re constantly trying to find ways to motivate your team. You understand that a motivated team is the engine that drives your success and is one of the keys to retaining top talent. But how do you strike the right balance between different types of motivation? Let’s take a closer look at how you can empower your team using both intrinsic and extrinsic rewards.

Understanding intrinsic rewards. Imagine one of your team members, Sarah, takes pride in providing exceptional customer service. When she receives positive feedback from customers, she feels a genuine sense of accomplishment. This inner satisfaction fuels her drive to do better. Intrinsic rewards, like personal fulfillment and a sense of purpose, are what keep employees like Sarah engaged and motivated.

Leveraging extrinsic rewards. Now, consider Alex, another team member who consistently goes above and beyond in sales. Recognizing his efforts with a monthly bonus not only shows appreciation, but also motivates him to continue his high performance. Extrinsic rewards, such as bonuses, promotions, or recognition ceremonies, can be effective ways to amplify your team’s motivation, complementing their intrinsic sense of achievement.

Striking the balance. As you plan your team’s motivation strategy, think of it as crafting a personalized mix. Cassandra might thrive on the satisfaction of knowing her work impacts the local community. For Jorge, a performance-based bonus might be the extra nudge he needs. By balancing both intrinsic and extrinsic rewards, you’re creating a well-rounded approach that resonates with different team members.

Recognizing individual contributions. Take a moment to acknowledge Nina’s innovative idea that streamlined operations across your franchise locations. By spotlighting her contribution, you’re not just celebrating her; you’re also encouraging others to step up. Recognizing individual achievements strengthens the bond between employees and your company, reinforcing their sense of value and purpose.

Fostering a supportive culture. Imagine letting your team members take the lead at a local charity event. This not only shows your trust in them, but also empowers them to make meaningful decisions. When employees like Michael feel they’re contributing to a larger purpose, they’re more likely to stay motivated and engaged. Empowerment leads to ownership, and ownership fuels motivation.

Empowering leadership. Your role as a leader sets the tone for your business. When you actively engage with your team, showing genuine interest in their growth, it sends a powerful message. Consider holding regular one-on-one meetings to discuss goals and aspirations. By demonstrating your commitment to their success, you will motivate and inspire employees to reach higher.

Measuring success. Track the effect of your motivation strategies by monitoring employee engagement and performance metrics. Did your team’s morale improve? Are sales numbers on the rise? Regular check-ins and open discussions with your team provide valuable insights into what’s working and where adjustments are needed.

Fueling motivation within your franchise. Balancing intrinsic and extrinsic motivation is an art. It’s about creating a unique blend that speaks to your diverse team. By tapping into the intrinsic joy of accomplishment and enhancing it with extrinsic rewards, you’re nurturing a culture of motivation. Remember, your company’s success is built upon the motivation of your team members—one of the driving forces behind ensuring your business stands the test of time for many generations to follow.

Kendall Rawls knows and understands the challenges that impact the success of a family-owned business.  Her unique perspective comes not only from their educational background, but, more importantly, from her experience as a second-generation family member employee of The Rawls Group – Business Succession Planners. For more information, visit seekingsuccession.com or email info@rawlsgroup.com.