The first thing you will need to discover is whether you are dealing with a three-phase motor. You may already know this from the application, but another giveaway is that the lead wires of most three-phase motors are single colors, not multiple colors, and usually identified with numbers. If, on the other hand, the motor diameter is less than seven inches and has a terminal board, it is most likely a single-phase motor.
Without getting into a lengthy physics lecture, this process of reversing polarity produces heat (or wasted energy). This is known as hysteresis loss. And that helps explain why increasing the voltage into the motor will not necessarily increase the output. Instead, it can fight the resistance of magnetic materials to reverse polarity--and simply heat iron.