Money is the most important factor motivating workers today. Discuss this statement with reference to motivational theories you are aware of. The word motivation according to Richard Romando is gotten from the Latin phrase "movere", which means to move. Motivation is defined as an inner drive that activates performance and gives it direction. The term motivation theory is concerned with the process that explains why and how human behaviour is stimulated and directed. It is considered as one of the most significant areas of learning in the field of organizational behaviour. Motivation according to Jim Riley is defined as the determination to work; this comes from the pleasure of the work itself and from the aspiration to achieve certain goals for example earn more money or achieve promotion. Motivation can be seen as the bed rock for effective performance of workers on any assigned task or job in an organisation, these is the reason why people wants to work hard and work effectively for the business. In other words, motivation can easily be defined as those forces that incite or encourage a person to perform better or give his or her best. Motivation energises workers towards the assigned task in an organisation. Therefore for a worker to perform and work towards accomplishing goals for the organisation, he must be motivated. Several motivational theories have been put together by management experts to support the need for effective motivation in an organisation. The most generally held analysis or presumptions are enumerated below. Though the following theories do not all arrive at the same conclusions; some of these theories are as follows; Þ Abraham Maslow – Hierarchy of Needs.
Þ Douglas McGregor - Theory X And Y
Þ Fredrick Herzberg – Two Factor Theory
Þ Elton Mayor - Human Relation School of thought
Þ Fredrick Winslow Taylor - Theory of Scientific Management Money as said is an important factor in motivating workers today, more so as the saying goes “money answers all things”. Going by economic terms money is simply defined as an official medium of exchange for goods and services, Money according to Cliffnotes is defined as “any good that is generally used and acknowledged in trade connecting the transfer of goods and services from one person to another”, it is therefore glaring that human would demand for pay for services rendered in an organisation. According to Fredrick W Taylor in his theory of Scientific Management, Fredrick argued that, workers should be paid fairly for a fairly days job. Fredrick however suggested the initiative that workers are motivated mostly by pay. Fredrick who was concerned about they pay attitude of management towards workers argued that workers do not obviously take pleasure in work and so need close direction, as a result managers should split down production into a series of tiny tasks, workers should then be given proper training and working equipments to enable them work as resourcefully as Possible on one set duty. Workers are then paid in line with the amount manufactured goods they able to produce in a set period of timepiece rate pay. Taylor reasoned that workers can only put in their best if they are well paid (monetary reward). Taylor discovered from his findings that management uses workers as a tool and at the end of the day pay them peanuts. This forced the workers to be unproductive and highly unmotivated on their job. Furthermore Taylor stated that management should not only be about surplus and high productivity but also be concerned about the welfare of the workers because if the workers are well motivated they would work harder to increase productivity and any surplus arising therefore can be shared between management and workers. Organisational management in the day of Taylor disbelieved this theory and as such they could not employ the ideas of Taylor on time, however they came to realise the importance of Taylor ideas and as such embraced it. According to Jim...
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