If you don't grade it, students won't do it. That's what many educators (and parents) think, and for good reason. Here's a clip from a coaching session where I recall my students' reactions when they found out I wouldn't be grading their work:

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Reactions like this would seem to validate the motivational power of grades. But what they really validate is the coercive power of grades. The power to compel some students to do something by giving them points for it. And the power to compel other students to not do something, since kids who lack confidence often blow off graded assignments (or cheat on them to avoid a bad grade).

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