The main purpose of this study was to” assess the role of work motivation on employee performance”. This study in an assessment of this purpose used deductive approach in which a qualitative survey was carried out among employees of different companies. The survey was intended to get their responses on what they feel is (are) the best factors that could motivate them as employees among a list of ten motivational factors. In this light the study sets to identify the most ranked factors among the ten motivational factors. The analysis from the empirical findings showed that Job satisfaction” was the most ranked factor for both sub groups that made up the sample survey. However a study from previous researches used in this study showed that different results could be obtained from different groups of already working employees. This study therefore can be seen as an introduction to a more detailed study to be carried by future researchers on the field of employee’s motivation.
When looking at factors that affect job satisfaction, I find that Agency theory might be helpful as it explains the extent to which organizations need to think of their human resource responsible in producing the output needed by organizations to meet shareholders value. Agency theory is concerned with issues related to the ownership of the firm when that ownership is separated from the day-to-day running of the organization. It assumes that in all but owner- managed organizations the owner or owners (known in agency theory as the “principal”) of an organization must vest authority to an “agent”-corporate management- to act on their behalf.
The principal recognizes the risk, here and act on the assumption that any agent will look to serve its own as well as the principal interests as it fulfils it contract with that principal. However, this is not the situation in real life situation. As all agents are perceived to be Opportunistic. These approaches are to examine the problems of human exchange derived from the field of finance and economics but they are often applied to the study of shareholders Risk Management (SHRM).
Agency theory is therefore used to analyze this conflict in interest between the principal (shareholders of organizations) and their agents (leaders of these organizations). Whereby the “Agents” in keeping with the interest of the shareholders and organizational goals turn to use financial motivational aspects like bonuses, higher payrolls, pensions, sick allowances, risk payments, perks to reward and retained their employees and enhance their performance.
There is a strong lobby propounding the view that human resources and their management are the source of competitive advantage for the business, rather than, say, access to capital or use of technology. It is therefore logical to suggest that, attention needs to be paid to the nature of this resource and its management as this will impact on human resource behavior and performance and consequently the performance of the organization. Indeed Boxall and Steeneveld (1999) argue that there is no need to prove the relationship between firm critical influence on performance and labour management as it is self evident that the quality of human resource management is a critical influence on the performance of the firm. Concern for strategic integration, commitment flexibility and quality, has called for attention for employees motivation and retention. Given this perception, the principal in an organization feels unable to predict an agent’s behavior in any given situation and so brings into play various measures to do with incentives in other to tie employee’s needs to those of their organization. Thus getting employee’s identification with respect to the organization, and thus increasing their commitment level. As an approach to mediate the employment contract, elements of human resource...