By all means yes, money definitely plays a major part in motivating human resource, as far as motivation factor is concerned, that too in the work place. It is only the need for the money, that makes people work, either it be for a thousand rupees or lakhs or corers, quantity doesn’t matter, but it is THE motivating factor. If there is plenty and more than sufficient any one would hardly want to work.…
Why do people work? This question seems to be unusual. However, it is primary question in people’s life, because they want not only earning for fundamental goods but also valuable life. While in ancient times, people usually worked for survival, as civilization progresses, they have made their desires to variety. Therefore, in every work places, employers need to control employees’ desires for efficient performance. Fundamentally, they were required to approach which factors influence people to work harder and faster. As one of the result of the approaching, in 1943, Maslow established his theory about individual development and motivation. He classified needs into five sets; physiological, safety, love, esteem, and self- actualization. The theory as is called Maslow’s hierarchy of needs is the best known and widely used need theory of motivation. In this essay, the legitimacy of the theory and acceptable situations in work place if it is true are illustrated.…
While money is most favorably ranked among motivational factor in the workplace, research now suggests that other motivating factors are gaining equal importance in context to motivational theories. Findings reveal that challenging work and worker appreciation are equally as significant to improved employee motivation as cash rewards.…
Employees’ behavior mostly will lead to positive or negative outcomes; therefore, motivated employees play an important role in the workplace. According to Linder (1998), motivated employees help organizations to be survival and adapt to the rapid changing business environment. The term of motivation could be defined to reword organization goals and satisfy the employees’ needs. There are two categories of motivation theories: content theories and process theories. “Content theories describe the specific factors that motivate employees, such as Maslow’s hierarchy of needs, McGregor, McClelland and Herzberg. And then, process theories which are concerned with the thought processes that influence behavior, for instance, Vroom and Porter-Lawler expectancy theories and Adam’s equity theory” (Hall et al, 2008:374). Due to that there is an argument of that non financial motivation method plays litter impacts in the workplace, as a result of this, “a fair day’s pay for a fair day’s” work has been stressed its role in the workplace. Consequently, the objective of this essay attempts to exam a number of motivation theories associated with examples, including Taylor’s scientific management, Maslow’s hierarchy of needs and MaClelland’s managerial needs. These theories attempt to provide an explanation of financial motivation and non financial motivation.…
Motivation can be broadly defined as ‘the process whereby goal-directed activity is instigated and sustained’ (Pintrich & Schunk 2002). For a employee, the goal-directed activity gives them a reason to work towards a certain direction and in most instances, closely connected to his or her emotions (Freemantle 2001). Scientifitic school of thoughts have always considered monetary incentive to be the only effective motivator to employees. However, humanistic theorists strongly critised this view. They categorized monetary incentives as external motivators and therefore, only a mere extrinsic factor that motives employees (John & Saks 2008). In other words, money can be an effective motivator but its effect is very much limited.…
Motivation is the idea of about the difference between getting things done and not getting things done; energises people; and directs activities to goals. While it is true that most people believe on motivation as illustrated in various theories, it is argued that not all these theories are applicable in all conditions particularly on the aspect of employee motivation. In general perspective, this paper discusses the motivation theory and various theories including Maslow’s Hierarchy of Needs, Herzberg’s motivation and hygiene factors theory, McClelland’s Three-need theory, and Vroom’s Expectancy Theory. Several definitions of motivation are presented. But the focus of the paper is on the disagreement that not all motivation theories are sort of…
Theoretical background The relationship between people and their work has long attracted psychologists, behavioral scientists and, also, economic scientists. Researchers’ interests, dating back to the early years of the twentieth century, reflect the development of the financial psychology and vocational guidance disciplines. Their work dealt with measurement of aptitudes and abilities to improve the job-person fit. The study of motivation now forms an integral part of both financial and vocational psychology. However, in both fields, concepts like need, motive, goal, incentive and attitude are appearing with greater frequency than are the concepts of aptitude, ability and skill. Three assumptions guide contemporary research on human motivation: 1. Motivation is inferred from a systematic analysis of how personal, task and environmental characteristics influence behavior and job performance. 2. Motivation is not a fixed trait. It refers to a dynamic internal state resulting from the influence of personal and situational factors. As such, motivation may change with changes in…
X and Theory Y, Victor Vroom’s Expectancy Theory, and J. Stacy Adams’ Equity Theory. It is worth noting that the paper will give some highlights of the above mentioned theories so as to give a bigger picture on the subject of motivation, further the paper will give brief definitions of some key concepts such as motivation and job satisfaction. It is also important to state here that the paper will restrict itself to the two factor theory by giving a brief explanation on the theory and then zero in on each of the hygiene factors in detail after which the position of the author on the subject under discussion will be outlined and the conclusion shall follow with the bibliography.…
A motivated employee works hard and effectively because of the satisfactory feeling of fulfillment. In business management, motivation is an important research field. Over the years, there have been many motivation theories developed. One of the most famous theories is on the basis of Abraham Maslow's hierarchy of needs. Maslow (1954) argued that individuals have a hierarchy of needs, and true motivation is achieved by fulfilling higher level of needs. Emphasized by various motivation theories, income (money) has been an essential factor which can affect motivation. Someone who has low income jobs tends to have low motivation. Consequently, low motivation will result in low effectiveness and high rate of staff turnover, which has a negative influence on company’s performances. As a multi-national company, Subway has achieved international success over the years. In the UK and Ireland, since the first store opened in 1996, Subway is continuing to expand at a substantial rate, with an average of five stores opening every week (www.subway.co.uk). During the past two years, Subway has provided more than 7000 jobs in UK and Ireland (www.subway.co.uk). Therefore, the research based the case study of Subway will have a wide range of indications in terms of employee motivation.…
The purpose of this essay is to distinctively identify the effects of financial rewards on the work motivation of an organization and also whether or not this system of reward can cause an increase in the levels of work motivation already present in the organization. It furthermore aims to discuss weather Financial Rewards are the best way to increase the work motivation present. Although the essay shall primary be focused on Financial Rewards and Work Motivation, other factors that may have an effect on work motivation shall be discussed. For this purpose the understanding of work motivation shall be taken as such: The factors that are internal and external to employees that determine when he or she works, how hard he or she works and how long he or she works (Colquitt, Lepine and Wesson, 2009, pp.178-179). Furthermore the understanding of Financial Rewards to be undertaken is : The entire Reward System which focuses on Salary, Bonuses, Incentives etc., which aims to increase the amount of effort put in by the employees to achieve their work goals and increase work motivation in the organization as a whole (Hollyforde and Whiddett, 2002, p.166). By the conclusion of this essay the need for Financial Rewards its importance and status as apparently “the best way” to increase work motivation shall understood.…
today have more or less fulfilled most of their first and second hierarchy needs, in…
The concept of motivation has many facets, but if one were to frame the topic in terms of human resource management then a properly motivated employee would be a person who has a predisposition to behave in a manner as to achieve specific, unmet goals (Buford et al, 1995). A common, and now very antiquated method for improving employee motivation was solely to increase extrinsic benefits, a practice that was thought to yield positive results during times of greater scarcity and primarily because of the primitive understanding of the dynamics of overall job satisfaction. While simple increases in levels of extrinsic benefits may satisfy a workers most basic need according to Maslow’s hierarchy (1943), modern studies have shown that salary level has extremely low levels of correlation with job satisfaction and overall employee motivation. This is especially true when increases in extrinsic benefits are based on predetermined time intervals and workers need only maintain a minimum level of output to retain continued employment (Judge et al, 2010). According to Herzberg’s Two Factor Theory of Motivation, salary level alone can even act as an agent of demotivation when an employee derives no intrinsic rewards from their work and is merely performing a repetitive task for financial gain (Herzberg, 1968). A 2012 survey conducted by McKinsey Group Incorporated also showed that on average, employees placed higher value on nonfinancial incentives (See Appendix A). Today’s global marketplace is experiencing an influx of multifaceted, transnational corporations employing people in a vast array of job skills, qualifications, and duties. The ability to motivate them all through one system requires more than simply finding the right balance between the two arms of Herzberg’s theory, but instead to find a way to make them act as a function of each other and then link that result to the employee’s overall performance. It should be noted that this methodology could…
Khurana Sharma wrote an article in 2010 which states “Motivation is a complex subject, although it seems very interesting to all of us, but it has many facets for different people.” Motivation has many theories written by various authors, one such theory is Reward and Punishment theory also known as Theory X, another name of which is Carrot and stick. . Motivation is a factor in all aspects of human endeavor; as long as we exist we are constantly motivated to pursue one need or another. In this review however, we will be focusing on motivation in the work place. We will be also looking at two articles that present various notions and ideas on motivational theory.…
To further explain the aspect of motivation, Bizhelp (para. 1) explains the Herzberg’s Two Factor Theory of motivation, which has it that there are two types. First of all are the factors that motivate the individuals to continue working. These are the factors that make the people appreciate their job; hence they continue putting all their efforts at it. On the other hand, there are the factors, which prevent job satisfaction. These are not, in whichever way, related to the happiness of the individuals. Rather, they just remove the unhappiness from work; hence making the people work more comfortably. In other words, they are referred to as the hygiene factors. Business Plan Hut explains that there are many ways of motivating the employees and those monetary incentives are one of the many ways (para. 3).…
Motivation relates to the drive that influences what people do, how much effort they contribute and the length of time they keep trying. Motivation influences performance in the workplace and organisations strive to motivate workers in order to encourage the highest level of performance and productivity. A number of theorists have investigated motivation in the workplace and proposed contrasting theories. The following essay examines whether money is the greatest motivator for workers or whether there are other factors, which can be more influential.…