The motivation of human beings towards their work is a complicated matter. For a long time, economists, sociologists, and psychologists believed that a carrot and stick approach, with monetary incentives, would be enough to motivate people towards higher levels of performance.
However, recent studies suggest that monetary incentives are only one part of motivation. In fact, studies show that high monetary incentives for tasks requiring higher cognitive abilities often lead to adverse outcomes. Experiments demonstrate that greater autonomy, reduced interference from management, and focusing on non-monetary factors are crucial for motivation in cognitive skill-intensive jobs.
Identify the statement(s) that is (are) logically consistent with the content of the paragraph:
i. The carrot-stick approach essentially requires the use of rewards to get more of a desired behaviour whereas penalties lead to increased undesirable behaviour.
ii. Expending time and effort on the design of monetary incentives is a wasteful exercise.
iii. The study by the group of MIT researchers was a flawed exercise from the start.
iv. There appears to be a need to reorient the existing paradigm prevalent in incentive design.
v. During the process of designing incentives, one should clearly delineate activities into those requiring mechanical skills and those requiring higher-level cognitive skills and design with separate sets of incentives and penalties for each.