Explain the various theories of motivation.

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.
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