Business Research Methods

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VSRD-IJBMR, Vol. 2 (2), 2012, 38-46

RESEARCH COMMUNICATION RESEARCH COMMUNICATION

Money : Does It Really Affect Hotel Employee’s Performance As A Motivational Factor !!! 1

Sunil Panwar* and 2Nitin Gupta

ABSTRACT
Money is the most obvious Motivational factor for starting level hotel employees, whether it is in the form of pay or some other kind of remuneration. Everyone wants to earn fair wages and salaries, and every employer wants their employees to feel that he is the best paymaster. Thus it can be said that employees and employers view money as the basic factor for job satisfaction. Employees can have different motivational factors; only money cannot motivate an employee to change his job or only money cannot give proper job satisfaction to the employees. In case of hotel employees’ hotel associates want more tangible rewards while the managers want job security, recognition by management and time for their family. Thus Money may or may not motivate people. Money serves as a highly tangible means of recognition. Though there are many reasons why people work for a living, it cannot deny that money, or other financial rewards, play a key role in motivating people in the workplace. Keywords : Financial Rewards, Hotel, Job Satisfaction, Money, Motivational Factors, Remuneration.

1. INTRODUCTION
The hotel industry is a significant part of the tourism industry world wide and its employees play a key role in delivering the service to customers. The motivation of employees, whether professional, skilled or unskilled, is a major issue in all service organizations. For the hotel industry, employee motivation is a major issue. It is a challenge for the hotel industry to motivate employees, to stay on the job, and to offer the efficient, good service which customers expect. The purpose of this study was to assess the role of money as a motivational factor for hotel employees.

____________________________ 1

Assistant Professor, Department of Hotel Management, Swami Vivekananda Subharti Institute of Hotel Management, Meerut, Uttar Pradesh, INDIA. 2Research Scholar (Management), Mewar University, Chittorgarh, Rajasthan, INDIA. *Correspondence: sunil1982.hotelier@gmail.com

Sunil Panwar et. al / VSRD International Journal of Business & Management Research Vol. 2 (2), 2012

2. LITERATURE REVIEW 2.1. Motivation
Motivation in simple terms may be understood as the set of forces that cause people to behave in certain ways. Many people know motivation as the driving force behind an action. This may be the simplest definition of motivation. Motivation can be considered the state of having encouragement to do something. In any organization a motivated employee generally is more quality oriented. Highly motivated employees are more productive. Motivated employees are needed in our rapidly changing workplaces. Motivated employees help organizations to survive. To be effective, management need to understand what motivates employees within the context of the roles they perform. For the hotel industry, employee motivation is a major issue. It is a challenge for the management of the hotel industry to motivate employees, to stay on the job and to offer the efficient, good service which customers expect (Cheng, 1995).

2.2. Motivation Theories
Five major approaches of motivation are Maslow's need-hierarchy theory, Herzberg's two- factor theory, Vroom's expectancy theory, Adams' equity theory, and Skinner's reinforcement theory. According to Maslow, employees have five levels of needs (Maslow, 1943): physiological, safety, social, ego, and self- actualizing. Maslow argued that lower level needs had to be satisfied before the next higher level need would motivate employees. Herzberg's categorized motivation into two factors: motivators and hygiene (Herzberg, Mausner, & Snyderman, 1959). Motivator or intrinsic factors, such as achievement and recognition, produce job satisfaction....
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