Motivation is a burning issue in today's world of work. Research has shown that increased workforce motivation contributes to increased productivity and innovation, creative problem solving, reduced turnover and decreased absenteeism. Employers always seek motivation in their employees. For the time being different motivation theories have been presented. No one theory is appropriate for all people and for all situations. Each individual has his or her own values and differing abilities. According to physiologists people are motivated by unmet needs like psychological needs, self actualisation needs, social needs, esteem needs and safety needs. Need fulfillment is the basic factor behind motivation. In business settings, managers apply motivation theories to influence employees, improve morale and implement incentive and compensation plans. People are motivated in different ways. Organisations use extrinsic and intrinsic reward to motivate and retain their employees with the organisation. Extrinsic reward includes both monitory and non-monitory compensations like salaries, bonuses, commissions, incentives, holidays, services, leaves etc. All fulfil the materialistic needs of the employees. On the other hand intrinsic reward is composed of employee's critical psychological states that result from performing the job. Intellectual challenges, sense of purpose, more flexibility, responsibility, greater freedom, recognition and decision-making are the basic elements for intrinsic reward. Five core job dimensions such as skill variety, task identity, task autonomy, task significance and feedback are the basis for intrinsic reward. More these dimensions will present in the job more will be the intrinsic motivation. Skill variety, Task identity and Task significance enables employee to experienced meaningfulness of the work. Autonomy experienced responsibility for work outcomes. Finally the feedback gained knowledge of results from work activities. All these things lead to lower turnover, lower absenteeism enhanced job performance and greater job satisfaction. Some time even with the presence of high extrinsic reward, employees are de-motivated or turnover is high in the organisation. Enhanced intrinsic compensation may help to reduce these. Because employees want challenging technical environment, learning and training opportunities, participative management style etc. Money is not every thing. Salaries and other extrinsic rewards are neither the sole nor the primary source of motivation in modern organisations. Competition and the need for quick decision making need the employees must be self-managing and they must have a sense of meaningfulness, choice, competence and progress in the work that they do. If they feel that they have all four of these factors, employees will feel a great sense of job satisfaction, be highly motivated and perform well. In fact, if an employee is feeling unmotivated, employee considers which of the four "vital signs" is weak and address it accordingly. Negotiate with your boss for more authority or, if all else fails, consider moving to another job that provides more choice. A sense of competence comes from training and learning, but it also comes from patting oneself on the back for a job well done. Job enrichment is vital for intrinsic motivation. Job should contains all necessary elements to perform. A workplace full of opportunities to grow is a motivational company. Employee development should be a priority and should be executed in performance reviews. After looking at the past, turn your focus to the future and identify pathways for growth. Always be aware of and sensitive to the level of your employees' morale. If you sense it going down, invite suggestions and new ideas, and be willing to put good ideas into action. This practice creates a sense of importance of employee for the business.