So now you've got everybody in your company creating and innovating like mad. You might have set up bonus incentive programs to reward contributions to innovation. But don't forget one other very important thing: Acknowledge individual and group contributions. Studies have shown that intrinsic motivation is much stronger than extrinsic motivation. That is, personal motivations such as interest in an activity or personal challenge are much stronger than outside motivations such as money.
Intrinsic motivations are interior, including personal challenge and involvement. Extrinsic motivations are outside of oneself, such as financial or career rewards.
Acknowledgement of effort supports intrinsic motivation. ...