Recent events in the banking sector have brought the issue of bonus payments into the spotlight. With reference to appropriate motivation theories, critically evaluate the statement that “money motivates”.
Some people suppose that money is a main and the only one motivator, which influence on workers and their productivity, but it is not always completely true as there are many others factors on which working capacity depends. For instance, it is working conditions, environment and the peoples we work with. Money has rather small value. If to be beyond satisfaction of ours real requirements money in itself is less appreciated that on them it is possible to purchase, than that they the ability certificate to achieve success. James A. Lincoln (1998). Money plays a crucial role in labor relations, whether but main? Whether it is enough to pay to the employees the good salary that they yielded the maximum result? As show numerous researches in the field of organizational psychology – isn't present.
As I have mentioned, there are many way to motivate people. However, what exactly we understood under the word “motivation”? There are different explanations of the meaning of this word. For instance, Edvard De Bono (1981) consider that ‘Motivation is a great catchword. If people are properly motivated they will do anything and enjoy it’ (p. 78), whereas Mitchell (1982) defines it as ‘those psychological processes that cause the arousal, direction, and persistence of voluntary actions that are goal directed’ (p. 81). More precise explanation of the motivation in general and the purpose of motivation theories can be obtained from Bernard Weiner’s (1992) researches, where he provide the idea that ‘Motivation is the study of the determinants of thought and action – it addresses why behavior is initiated, persists and stops, as well as what choices are made. In attempting to develop a scientific explanation that examines these questions, researchers have formulated general theories that are guided by metaphors of what a person “is”. … [But these theories] only offer languages and general interpretations that are applicable across variety of observations and situations’ (p. 17), Which, in other words, means that motivational theories don't give exact and absolutely exact description of that precisely factors motivate each person or that actions of people will be in various situations, but they help to make enough relevant provisions about both of these points which could be applied to the huge majority of people. Money can really motivate us and not in the same time. More reach people are inclined to be happier than poorer people, the poor will be motivate in how can, they could success in an exit from a poverty conduct of life through management of money funds, a rate of motivation or the development program and skills training. When their financial position has, are stabilized with corresponding personal economy, motivation level can be, change for various people. In other words they could continue, remain as employment in the company before retirement age or decision achievement their idea of own business to increase their incomes, whatever influences them, determine on appetite of risk, experience and capability.
Mechanism action «money — motivation — result» is better speaks the theory of psychologist A. Maslow about human wants. His “Hierarchy of needs pyramid” (1954) where a need is understood as ‘a deficiency that a person is experiencing at any point in time’ (Noe, 2002, p. 114). That theory was named due to its basis of the idea that all of the human needs can be divided into five core groups – Physiological needs, Security needs, Social needs, Self-esteem needs and Self-actualization needs. According to the theory of Maslow all requirements can be grouped in strict hierarchical sequence, i.e. physiological requirements, requirements for safety and security concern primary requirements, and all the others belong to...
References: Alderfer, C. P. (1972). Existence, relatedness, and growth : human needs in organizational settings. New York: Free Press; London: Collier-Macmillan.
Berlyne, D. (1968). Behavior theory as personality theory. In E.F. Borgatta and W.W. Lambert (Eds.), Handbook of personality theory and research. Chicago: Rand McNally.
Buck, R. (1976). Human Motivation and Emotion. John Wiley and Sons, Inc.
Buhler, P. (1988). Motivation: What Is Behind The Motivation Of Employees. Supervision; June 1988; 50, 6; ABI/INFORM Global pg. 18.
De Bono, E. (1981). Atlas of Management Thinking. European Services Ltd. London.
Elliot, E. M. and Williams, F. P. (1995). When You no Longer Need Maslow: Exchange Professionalism, and decentralization in management of criminal justice agencies. Public Administration Quarterly, 19(1), 74-83.
Franken, R. E. (2002). Human Motivation (Fifth Edition). Wadsworth Group.
Halepota H.A. (2005). Motivation Theories and Their Application in Construction. Cost Engineering; March 2005; 47, 3 ABI/INFORM Global pg. 14
Maslow, A. H. (1987): Motivation and personality (Third Edition). New York: Harper and Row.
Maslow, A.H. (1968) Toward a Psychology of Being, 2nd ed. New York: Van Nostrand Reinhold.
Milton, C. R. (1981). Human Behavior in Organizations: Three Levels of Behavior. Prentice-Hall, Inc., Englewood cliffs.
Mitchell, T. R. (1982). Motivation: New Direction For Theory, Research, and Practice. Academy of Management Review, 7(1), 80-88.
Noe, R.A. (2002). Employee Training and Development. Englewood Cliffs, NJ: McGraw-Hill Irwin.
Raudseff, E. (1978). Motivating and Managing Creative Individuals. Princeton Creative Research.
Weiner, B. (1992). Human Motivation: Metaphors, Theories and Research. SAGE Publications. Newbury Park, London.
Wilson I. and Madsen S.R. (2008). The Influence Of Maslow’s Humanistic Views on an Employee’s Motivation to Learn. Journal of Applied Management and Entrepreneurship. Apr 2008; 13, 2; ABI/INFORM Global pg.46.
Please join StudyMode to read the full document