Money as a Motivator
This paper will discuss the subject of money as a motivator. In addition to research and a cohesive review of literature it will include two interviews with prominent managers which will be analyzed to further enrich the knowledge of the subject by taking advantage of their hands-on experience.
I- Introduction: Money, A motivator?Money! That is the violent war between employers and employees. Indeed, motivating employees through the use of money as a material reward or motivator for work achievement is and has always been a matter of controversy. Many theorists tackling motivation theories, human nature in general and motivation in particular, have accordingly examined this issue and yet they did not give the same answer as whether money can motivate workers for work or not. This shall form the main core of this projectBut before tackling this sensitive issue, let us see what does Motivation in general entails? Motivation suggests the strong desire to do one 's job well with an initiation to receive a complement either of moral or material satisfaction. Employers have employed material incentives in the form of extra hours with extra pay, some others give too much importance to the stability of the workers with satisfying their necessaries of life; whereas others have much stressed human relations, good contacts with prospective outcomes, promotion, and occupation with high responsibilities potential.
There is no shortage of theories about motivation, and the relation between money and motivation in particular was central to most of them since money has always been held as the bread and butter of each worker and the carrot or the stick with which the employers control the goal achievement processes. Next we briefly review some of the most important motivation theories and there approach on money.
II- Review of literature and previous studies:(A) Theories of Human motivation and their relation to money:* The Hierarchy of NeedsThis theory is probably the
I- Introduction: Money, A motivator?Money! That is the violent war between employers and employees. Indeed, motivating employees through the use of money as a material reward or motivator for work achievement is and has always been a matter of controversy. Many theorists tackling motivation theories, human nature in general and motivation in particular, have accordingly examined this issue and yet they did not give the same answer as whether money can motivate workers for work or not. This shall form the main core of this projectBut before tackling this sensitive issue, let us see what does Motivation in general entails? Motivation suggests the strong desire to do one 's job well with an initiation to receive a complement either of moral or material satisfaction. Employers have employed material incentives in the form of extra hours with extra pay, some others give too much importance to the stability of the workers with satisfying their necessaries of life; whereas others have much stressed human relations, good contacts with prospective outcomes, promotion, and occupation with high responsibilities potential.
There is no shortage of theories about motivation, and the relation between money and motivation in particular was central to most of them since money has always been held as the bread and butter of each worker and the carrot or the stick with which the employers control the goal achievement processes. Next we briefly review some of the most important motivation theories and there approach on money.
II- Review of literature and previous studies:(A) Theories of Human motivation and their relation to money:* The Hierarchy of NeedsThis theory is probably the
References: ttp://www.forexprofitingpro.com/sites/ldintino/_files/Image/MoneyGlobeOnFinger.JPGClarifying money 's role in motivating- Lynn W. Robbins University of Kentucky- Journal of Food Distribution ResearchGetting more bang for your buck- Martin Price is the director of HR Equations Ltd- employment today NOVEMBER 2005Motivating the work force (chapter ten) - McGraw -Hill/IrwinMoney not the motivator - The Herald Sun - Thursday, 08 December 2005Money can be a big demotivator- John Fisher, Managing director, Oxford motivation August 2oo7 Human resources 23Money isn 't everything … or is it? - Karen Meudell and Karen Rodham- International Journal of Contemporary Hospitality Management 10/4 [1998] 128-132Keeping Good Employees: Money as an Internal Motivator- Dr. Brian Grossman www.drbriangrossman.comMoney and employee motivation- James Houran- www.2020skills.comTheories of Human Motivation- 13th September 2004- BBC.co.ukIs Money An Effective Motivator At Work? - By Robert II Smith- http://interpret.co.za/Money not key motivator for most employees- Business First Friday, June 22, 2001Survey: Money not the biggest factor in employee turnover- Memphis Business Journal Tuesday, March 23, 2004