Extrinsic factors like salary and benefits don’t necessarily lead to employee motivation or boost firm performance. What does?
The Green Goldfish concept, which emphasizes the importance of going beyond monetary incentives, also reinforces this idea.
The color green is a metaphor that signifies the importance of recognizing and engaging employees through non-monetary means. Lagniappe, a Creole word that means “a little something extra,” is a key aspect of this concept of going above and beyond the transaction to honor the relationship.
Ariely highlights three elements of intrinsic motivation: feeling appreciated, psychological safety, and alignment with the company. These elements align with some of the 15 types of Green Goldfish, such as recognition, transparency, and purpose/pay it forward.
Investing in intrinsic rewards can help create a work culture that values and respects employees. It’s not always about the money honey!