Extrinsic motivation is a type of motivation that comes from outside yourself. For many people, the satisfaction of a job well done is enough to ensure continued effort. Others, however, need extrinsic motivation. Depending on the individual, just a few words of praise may be enough, while others respond only to something substantial, such as money.
Verbal
Verbal praise, such as telling someone they did a good job, is a simple and often effective means of extrinsic motivation. Explaining in detail the reasons for the praise increases the effectiveness of this type of motivation.
Written
A note or letter of thanks is another form of extrinsic motivation. Written feedback can boost the ego, and is typically remembered longer than verbal praise.
Financial
Employers are likely to provide motivation in the form of a financial reward. For example, bonuses or pay raises that are given for extra effort can encourage future effort. Employees that meet or exceed sales goals may also be motivated by paid vacations or other prizes.
Public Recognition
Awards for public service boost the esteem of recipients and inspire others. Similarly, businesses recognize employees through company publications, encouraging higher achievement.
Peer Recognition
Receiving the support of peers can motivate many people to continue a course of action.