The power of recognition and appreciation in business
Abraham Maslow, the father of modern management psychology and creator of Maslow’s Hierarchy of Needs, explored at length what motivates people. At the top of his pyramid of needs is self-actualization, or contributing to something worthwhile. Over the years, others who have explored this theory, including Stuart Levine, former CEO of the Dale Carnegie Institute, have found that “people work for money, but go the extra mile for recognition, praise, and rewards.”