Motivation plays a very important for any individuals work life. It helps them perform well and push themselves that extra mile which is required to keep
them in the game and be that one step ahead of their competitors.

Motivation can be both monetary and non monetary. Incentives way of motivating people is an important tool in the hands of the management. Benefits like a certain amount of bonus after completing a certain targets motivates sales personnel to achieve their targets way before time. An incentive helps in keeping the employees happy and the result is shown in their work. If your employees are happy your business runs a long way as it is they who help in the survival of the company.

True, even when firm successfully hires employees who are self motivated, the responsibility of the firm in motivating the employees doesn't become less important. The motivation can be intrinsic or it can be extrinsic. The organization should not only give rewards and recognition to the employees, but it should also create a work environment which can keep the employees motivated about their work. However using excessive extrinsic motivators to bribe the employees might be a bad idea, as such rewards might give employees a sense of added responsibility and might make the work employees enjoy, seem like a collection of perfunctory tasks that they have to complete. Sometimes praises and publicly appreciating the work employees do can make much difference.