In most organisation, money is often seen as a prime motivator for employee in the government and corporate sectors. It empowers them to perform better and contribute to the organisation objective goals and productivity, however, following the shifting of economic conditions and social values, people's desire is dramatically changing. Most employee may feel that they are affected by internal and external pressures such as increase in consumers tax, price hikes or slow promotion, they will then start looking for better opportunity elsewhere. As a response, the management should look into offer a better benefits that is able to transform employee's lives, and will enable employers to retention talent and experience employees.
Can money really motivate us? Yes and No. Richer people tend to be happier than poorer people, the poor will find themselves being motivated in how can they could success in getting out of the poverty lifestyle through money management, motivation course or skills training and development program. When their financial status have stabilize with adequate personal saving, the level of motivation can be vary for different people. In the other words, they could continue stay as employment in the company until reaching the retirement age or venturing out their own business idea to increase their income, whichever influences them is determine on the risk appetite, experience and capability.
Loyalty, relationships, a particular type of work, or feeling generally comfortable about the organization's culture, can be enough to keep people. It changes the business relationship between employer and employee from doing as little as possible for the pay, to the person wanting to do as much as possible.
Money not the main motivator for foreign workers.
There is a vast difference between foreign workers and professional who seen money as a motivator and the desire for achievement, respectively. Large group of foreign workers are not highly educated; having little opportunity in choosing the job they like, generally, the idea of working oversea earns them a salary that has a higher currency rates and clean environment to work in.
They are much more likely to see the company being driven by efficiency and by minimizing costs by hiring attractive low-wage foreign workers as to balance the budget or cutting manpowers cost, it will have a huge benefit in the long-term when doing it right but it can be a nightmare with training for those who lack of English speaking skill for some job scope except production.
The Art of Motivation Management
As the song from the film Cabaret has it, "Money makes the world go round." Is only a myopic mercenary believes that the human condition is all about money, even though it can make life easier. Society needs businesses to provide employment and build financial stability for individuals, to create, make and distribute products and services, and to take a responsible role in community. Businesses create wealth that can be shared-this is the ultimate "added value."
Jack Welch, one of the best-known American CEOs, is famous for saying "there are three key measures in business-customer satisfaction, employee satisfaction, and cash flow, in that order." More recently, he said that he had the first two round the wrong way-employees should come first. What he recognized was that, at the end of the day, everything depended on people: their capability, motivation, creativity, organizational skills, and leadership. People manage the tangible assets, and they also maintain and grow the intangible ones.
How can we track employee...