Money Is Not the Only Motivation

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Money is not the only Motivating Factor

Introduction

The aim of this academic research assignment is to look into the area of why I believe Money is not the only motivating factor in our current working society these days. We live in a day & age where people are no longer just interested in being able to earn for a living, although it does enable us to fulfill the basic necessities of our daily lives, like paying for our bills, our transport expenses, etc. However, more than just that, people are now looking for more in their jobs. Nowadays, people don’t want just a good salary, or a good payment package from their employers, they are also looking for greater meaning & purpose in what they are doing. It takes a combination of both the money & having a sense of purpose on the job that keeps a worker happy at work. When workers are able to find a greater meaning & purpose in the jobs that they are doing, it helps them to stay more engaged in what they are doing. McShane (2010, Organisational Behavior on the Pacfic Rim, p. 169) said, “The challenge facing organizational leaders is that most employees aren’t engaged. The numbers vary from one study to the next due to inconsistent measures & definitions, but generally only about 15-20% of the employees in Australia & New Zealand are highly engaged, about 60 per cent are somewhat engaged, and approximately 20 per cent have low engagement or are actively disengaged.” As we look deeper into this subject, we will also discuss further about the various aspects of what drives a worker in terms of their motivation, like money, purpose at work, as well as a look at the various theories of motivations, and how they correspond to the truth that money isn’t the only source of motivation for workers.

Primary Needs are Different

Because every individual is created differently, we are born differently, think differently, brought up in families with different value systems, how we feel towards certain things are usually different as well. That being said, its therefore correct to conclude that since we all respond, think & see things differently as human beings, thus, what motivates us to go for our goals, and what influences us in our decision – making process will be different. Maslow (1943) stated in his needs hierarchy theory that there are 5 levels of human needs. As you can see from the diagram below. Source: Based on information in A. H. Maslow, ‘A Theory of Human Motivation’, Psychological Review 50 (1943): 370-396 Source: Based on information in A. H. Maslow, ‘A Theory of Human Motivation’, Psychological Review 50 (1943): 370-396

Maslow discovered the following:
1. Physiological:

At the most basic level, most humans generally are motivated by the need for food, water, place to stay. These are all the basic human survival necessities. Naturally, all human beings are motivated and driven by their need for survival.

2. Safety:

After being able to fulfill their basic necessities, humans will begin to look for security & stability in the work environment that they are working in. With the absence of pain or threat, it helps to bring them a certain peace of mind to focus better on their work.

3. Belongingness/Love:

This area of need is subjective & will not necessary fit into the drive & motivation of every human being. The need for love, affection & interaction with other human beings may suit people with the extrovert-type of personality, but it doesn’t necessarily is as crucial to people that are introverted.

Extroverted people are more sociable & tend to be attracted more to an environment where they can experience lots of social interactions & having meaningful friendships. They are people who need to be surrounding by other people. They enjoy sharing what they know, and have learnt with those around, as well as to learn from those around them.

Introverted individuals however are geared...
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