'The best way to increase work motivation for an organization is through financial reward’. Discuss.
In view of setting-up organizations in our society, the aim of employers has always been driven towards achieving the set goals. The crucial factor of stimulating an employee’s interest and commitment to the occupation itself is motivation. According to Pinder (1998), work motivation is defined as a set of energetic forces that originally comes from both within as well as beyond an individual’s being, to initiate work-related behavior and to determine its form, direction, intensity and duration. Research evidences have linked motivation to job performance and organizational commitment (Colquitt, 2011). Employees are motivated for multiple reasons; some want to pursuit their goals while others are ambitious to getting richer and to be more powerful. To expand, every business needs to persevere in an aim to keep its employees motivated by some stimulus. It seems that the best way to increase work motivation is through financial reward. However, some theorists dispute that belief and they strongly aver that the incentives do not have to be fiscal and monetary in nature to encourage employees. They argue to retain the employees, the incentives can be in many kinds.
High motivation, enthusiasm, positivism and energy are the basic profile requirements for the job. However, the majority of recruits left the company but for those who stayed, they are obviously motivated by great promotion prospects and panoply of incentives (Colquitt, 2011). This example demonstrates that extrinsic and intrinsic work motivation are complementary to each other. The students are extrinsically motivated because of the promotion and are also intrinsically motivated due to the interest and challenge the job pertains to.
Work motivation encompasses three fundamental elements. These include direction, intensity and persistence. Direction deals with the pathway along which employees put their effort while intensity is related to the sum of effort owed to goals and finally persistence is associated to the constant effort committed for a certain time. It is widely known and strongly agreeable that the best means to boost motivation in any business is through financial rewards.
The traditionalist viewpoint highlight that financial rewards are the most important tool which motivates employees. It seems that increasing motivation through financial rewards is a widespread method when the businesses rely quantitatively and qualitatively on the employees’ output. For the employees who are concerned with production, employers develop a piece rate system where the employees are compensated for each individual production which they generate. Likewise, they would be motivated to produce as much as possible in order to achieve a high pay. Yet the employers should ensure effective quality control to ensure that customer-focused sectors are not operated for quantity. Some employees even introduce a commission payment scheme if their...