Motivation
Rewards whether monetary or non-monetary possess a motivational element. It is psychological; one always feels a sense of achievement when given a reward. However in today’s day and age people are more content with rewards of high value be it financial or materialistic. This could be due to the on-going recession most countries and individuals are experiencing. Then again, it depends on the individual; there are people who expect rewards with exponential value and there are those who are appreciative of just knowing that their job is secure. This difference is most likely due to the position the individual holds in a particular firm or organisation. This essay will analyze whether the best way to increase work motivation is through financial rewards.
When it comes to motivation, there are various theories espoused with the ultimate aim of increasing an employee’s work performance. Motivation is defined as being “the cognitive decision-making process through which goal-directed behaviour is initiated, energized, directed and maintained” (Buchanan & Huczynski, 2007, p.242). These are the factors that a manager must retain in order to motivate his/her employees profitably. An individual’s work motivation can be positively related to job performance and organisational commitment. (Colquitt et.al, 2011) As stated in the definition of motivation, there are various forces that determine employee motivation in the workplace. Intrinsic motivation is “a form of motivation that stresses valued outcomes or benefits that come from within the individual such as; feelings of satisfaction, competence, esteem and accomplishment” (Buchanan & Huczynski, 2007, p.435). This form of motivation has a lot to do with psychological empowerment, which will be discussed later in this essay. Extrinsic motivation on the other hand is “a form of motivation that stresses valued outcomes or benefits provided by others such as; promotion, pay increase, bigger office desk.” Both factors possess the
When it comes to motivation, there are various theories espoused with the ultimate aim of increasing an employee’s work performance. Motivation is defined as being “the cognitive decision-making process through which goal-directed behaviour is initiated, energized, directed and maintained” (Buchanan & Huczynski, 2007, p.242). These are the factors that a manager must retain in order to motivate his/her employees profitably. An individual’s work motivation can be positively related to job performance and organisational commitment. (Colquitt et.al, 2011) As stated in the definition of motivation, there are various forces that determine employee motivation in the workplace. Intrinsic motivation is “a form of motivation that stresses valued outcomes or benefits that come from within the individual such as; feelings of satisfaction, competence, esteem and accomplishment” (Buchanan & Huczynski, 2007, p.435). This form of motivation has a lot to do with psychological empowerment, which will be discussed later in this essay. Extrinsic motivation on the other hand is “a form of motivation that stresses valued outcomes or benefits provided by others such as; promotion, pay increase, bigger office desk.” Both factors possess the