...Motivation and Reward Systems Reward system is an organization’s most essential instrument for building and sustaining motivation in the workplace. A reward system is defined as the informal and formal processes by which performance of the members of the organization is identified, assessed, and rewarded. Obviously, rewards that are connected particularly to performance have the strongest effect on improving employee performance and motivation. Performance-based rewards fulfill numerous functions and objectives in organizations. The main principles comprise the correlation between motivation and rewards (Griffin & Moorhead, 2011). In particular, organizations would like their members to perform well and, consequently, have to motivate them to do so. When the reward system is related to greater performance, employees will most likely be driven to exert greater effort to get those rewards. When that happens, employee motivation becomes strongly tied to the organization’s goals. Proponents of behavioral sciences have long promoted the value of reward systems, the methods by which managers distribute rewards based on performance, tenure, or other aspects (Yukl, 2009). Obviously, reward systems are essential because employees accomplish the tasks they are rewarded for and poorly perform those which do not have any reward. However, before initiating organizational change, the reward system must be examined to identify whether it will positively or negatively contribute...
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...HOW DO YOU MOTIVATE AND COMPENSATE YOUR SALESPEOPLE? How do you motivate your sales people? The academic and classically accurate answer is you can’t motivate people. Motivation is internal to the particular person and the only factors that can truly motivate a person lie within the person themselves. So why do we spend so much time talking about it? Why do we devote so much time and effort trying to make motivation happen? The answer is that although you can’t control motivation, good leaders and coaches certainly can affect and inspire motivation. They create conditions in which people want to be motivated and therefore motivate themselves. When this occurs, we say the leader “motivates” because he or she has helped to shape an environment in which individuals are energized and motivated to achieve successful results. The strongest motivators for most people are achievement and its opposite – the avoidance of failure. People are never motivated by failure itself, but for some competitive people, achievement for the purpose of avoiding failure can be a stronger motivator than achievement for its own sake. The other strong motivator is recognition. This occurs when someone achieves something and someone else recognizes the accomplishment in some way. Some of the best examples of motivation driven by achievement, avoidance of failure and recognition can be found in sports. The coach or leader of a successful team never executes a play, the players...
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...------------------------------------------------- Top of Form Case: Texas Roadhouse Won’t Scrimp on Making Employees Happy In: Business and Management Case: Texas Roadhouse Won’t Scrimp on Making Employees Happy “If we take care of our employees, they will take care of our customers” is a common phrase. In your experience, is it actually practiced or is it just a cliché on the wall? Discuss the implications of your answer. Solution: The above phrase holds true in today’s competitive world and is actually practiced, where the focus is on the customer. The phrase is very much applicable for the service-oriented companies, where employees play a huge role in the success of the company. It is believed that employee job satisfaction is directly related to customer satisfaction. The management should take decisions and develop measures to increase the motivation of its employees to serve their customers better. An employee can increase the service quality through five important dimensions, namely, discussed as below: Reliability: The ability of the employees to deliver the promised service to the customer, in promised time and error free transactions, would increase the customer base and boost sales. Assurance: The politeness, knowledge and courtesy of the employees towards customers, in dealing with the products sales and after-sales service, builds a huge amount of trust and confidence. Tangibles: The personality and well-dressed attire of employees, attractive and simple...
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...accomplishing a task. Each way is supposedly, the best way to get the best results. The fact is, the no two people are the same and each has a different motivating factor. The thing that motivates one may not be what motivates the other. I am motivated by the positions of authority and money. Any other recognition would barely hold water with. My wife, has a different motivation. She enjoys helping people and gets a greats sense of worth from being appreciated, and recognized and valued as an employee. The way she sees it, someone taking the time out of their schedule to show appreciation is valued more than money. She will likely give you more effort and dedication for those types of praises. She will become more loyal at every show of appreciation; working for appraisal versus simply a normal pay raise. For me, money is what motivates me finding ways to increase the dollar value is always a challenge. The company, Bobby’s Burger, Bobby Jones is challenged with a similar situation; how to challenge his managers to exert more effort and put more satisfaction in their work. He is contemplating giving 500 shares of stock hoping that this would provide them some sense of ownership within the company hoping that he would gain loyalty and dedication in return. 1. Critically evaluate the propose stock plan. Does owning stock in a company make an employee feel valued? I wonder if givin them 500 shares will even...
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...of whether money motivates or money does not motivate employees I will be examining both viewpoints and then providing my own personal observation and opinion of the topic at hand. When I think of the subject and the importance of “Money” in a working environment I am reminded of the scene in the movie Jerry McGuire where actor Cuba Gooding Jr. who plays “Rod Tidwell” a professional football player is on the phone with his sports agent Jerry McGuire played by Tom Cruise and Rod is looking for a new professional contract. McGuire asks Rod “What can I do for you Rod, what can I do for you?” and Rod tell him it’s “a personal and very important thing, are you ready?” McGuire says “I’m ready”. Rod says “Here it is” and tells McGuire to “Show Me The Money”, “Show Me The Money Jerry” and starts dancing in his kitchen. He then spells out the word M O N E Y and has Jerry screaming the phrase “Show Me the Money” back to him with passion like he really means it over the phone. (http://www.youtube.com/watch?v=OaiSHcHM0PA). Now this may be a simplistic way of illustrating how money can be important to some individuals but it nonetheless shows that for some individuals it can be the only thing. Let us briefly examine that point of view first. Money Motivates There is no question that money motivates people. We are all looking to be paid a fair wage in whatever working profession that we are earning a living and according to studies money is a motivator...
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...almost everyone works for money. This incentive, for most people is enough to motivate them. Money is all they need at the end of the day to see them through there working career. Some find it easy enough to be motivated just by receiving wages, for some money, as motivation is enough until boredom & stress sets in. For some people money just isn’t enough to motivate them in the workplace. In most circumstances it is impossible just to have one way of motivating staff, different people work in different ways. A business needs to adapt methods to suit both them and the employees. For those who enjoy there job motivation can often be easily gained, for those whom do not particularly like there current job motivation is a key factor of making them work. In a company there are many different ways to motivate staff, there is not one ideal method to do so. Different people act different to different things. A wide range of motivation methods is the best policy to adapt to make the workers in the company motivated and willing to work. In some circumstances the way of motivating doesn’t have to be large, even the small things such as praise is enough to motivate staff. At the end of the day the best way for an employee to work is to feel good about themselves in the workplace, which can be achieved by different types of motivation, types of motivation can be split into financial methods of motivation which are more from the theory X approach to business were money is a key factor in motivation...
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...Contents Is money a motivator? 2 Maslow’s Hierarchy of Needs 2 Path-Goal Framework 3 Herzberg’s Motivation-Hygiene Theory 3 Conclusion 4 Question two 5 2.1 Traits 5 Behavioural 5 Contingency 5 2.2 6 Question Three 7 Is money a motivator? Money is a topic that is talked, argued and even dreamt about. It consumes our energy both physically and emotionally. Even Joel Gray in his song proclaims that “money makes the world go round”. It is important we all know that (Mitchell & Mickel, 1999). We find in society as a whole many of us want more money, therefore as employees we are fascinated with obtaining more money so it comes as no surprise when it is said that money is a motivator but in the past we didn’t have much money and therefore people were eager to work hard to achieve bigger salaries, whereas these days most people are paid well and it therefore becomes hard to motivate them (Wyld, 2011). In this essay I will show that there are other ways of motivating people. A current survey of employed workers shows that although money can motivate it is not a top motivator. The survey showed that intangibles such as recognition, involvement, challenge, pride, communication, meaningful work, and opportunity for growth are more powerful employee motivators. This is in no way saying that money does not motivate because it does to a point. The strength to which it motivates will depend on the individual. For example an unemployed person or someone with bills...
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...Question one: For most people money is a fundamental reason to work because eit is measurable and tangible. Hence, it becomes a motivator by default though it may not be the primary one for many employees. People are motivated by different things.Some employees have financial goals, others have professional goals while some have personal goals. The same incentives cannot work for all. This essay outlines some of the reasons why cash is not always a suitable motivator for excellent employees. Daniel Pink in his book “Drive”, convincingly argues that money does not motivate employees. Generally, people are motivated to work harder when they have the ability to work on their own terms. This is equally visible in Herzbergs two factor motivaton theory. In this theory, Herzberg points out that motivator factors such as the work itself,achievement, recognition, responsibility and opportunities for advancement and growth are the source of work satisfaction. Herzberg futher states that a salary is a hygiene factor and will not motivate people. Howerver, when the organisation links a monetary reward, such as a merit bonus to the recognition of good performance, it acts as a motivator. This is not to suggest that money doesn’t motivate, in fact, to underplay the importance of money and benefits as motivation for workers would be a mistake. Daniel Pink states in his book that employees expect to be paid fairly, but over-paying employers do little to motivate them to work harder towards achieving...
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...towards customers, in dealing with the products sales and after-sales service, builds a huge amount of trust and confidence. Tangibles: The personality and well-dressed attire of employees, attractive and simple facilities, that are easy to understand, attracts the customers’ base. Empathy: Nowadays, customers demand caring and individual attention from the company’s employees, hence, personal attention provided to each customer helps in increasing the brand value and hence increase sales. Responsiveness: The ability and willingness of the employees to solve the queries of the customers, is an important aspect of service quality, which the customer demands. Texas Roadhouse uses money as a motivator for employees. In today’s economy, describe alternative methods that could be used to motivate their...
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...purposes of this report are to (1) explain why employees become unmotivated, (2) identify the consequences a company endures with unmotivated employees, (3) discuss strategies or techniques organizations can use to motivate their employees, and (4) show the positive consequences a company enjoys with motivated employees. Nine professional and scholarly journals were used for the report. Primary research consisted of personal interviews with Lonny Cooper, Jon Wenzel, and Reza Rich. Motivation in today’s workforce Findings from professional and scholarly journals and personal interviews revealed that employees become unmotivated when communication breaks down between management and subordinates. Lack of motivation in employees tends to increase carelessness, absenteeism, resource waste, and turnover rates in an organization. Because employees possess different values, they are motivated by different things. Communicating information, praising employees, and recognizing effective performance are key strategies a manager or supervisor can use to motivate employees. Production, sales rates, and morale all increase when employees become motivated. The results of this research revealed a surprising concept: money alone is not enough to motivate employees today. Recommendations for motivating employees Recommendations for motivating employees at First Bank of Kamloops include • offering bank tellers valued rewards for balancing their cash drawers perfectly...
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...“Herzberg (1968) argues that pay is a “hygiene factor”. Critically evaluate his position drawing on your understanding of what motivates individuals and groups.” This assignment will look at the origin of Herzberg’s theory, those who agree with Herzberg’s two-factor theory and those that disagree with his two-factor theory. The assignment will look into what motivation means to individuals, and how motivation creates job satisfaction. It will then be possible to evaluate the relevance of Herzberg’s and how relevant it is to all individuals. Herzberg carried out a survey interviewing 200 Engineers and Accountants from Pittsburgh in the 1950’s. From his findings he came up with the two-factor motivation theory which consisted of motivational factors and hygiene factors. Both factors affect motivation in the workplace, but are very different and are completely unrelated. “Motivators refer to factors intrinsic within the work itself like the recognition of a task completed” (Tietjen & Myers, 1998) while “hygiene factors tend to include extrinsic entities which do not pertain to the worker’s actual job” (Tietjen & Myers, 1998). Motivators make the employee content and when they are present they increase job satisfaction. They were named intrinsic factors as they are factors that are related to the job itself. Hygiene factors do not make the employee happy when they are present but they do dis-satisfy when they are not present or are in shortfall, the hygiene factors...
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... OUTLINE I. Introduction a. Why is motivation important? II. How to motivate? b. Setting goals c. Showing growth and progress III. Communicate to Motivate d. Why is communication important e. How does it motivate? f. How does it help improve employee motivation? IV. Employee Surveys & Evaluations g. Conducting research and surveys h. Why is a survey designed? i. Employee evaluations j. Questions to ask yourself when evaluating. V. Conclusion Introduction The question when it comes to motivating people is what motivates and how to motivate people? The last but not least is how to keep people motivated? There are many jobs people work and they’re just working for the money and nothing else. The key to keeping good/great employees and to have a low turnover rate is keeping people motivated. Not only that but also engaged with the work, having a positive work environment and wanting employees to help build, grow, and increase productivity. That’s why setting goals, monitoring employee’s growth and progression is the main theory for motivating employees. Also, modeling an evaluation program for the employees to advanced and enhances their job/career with the company to decrease employee turnover rate. Leaders of modern-day organizations must know how to motivate each of their employees in order for them to thrive in dynamic work environments. Understanding the...
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...financial rewards”. Discuss. This essay will discuss if money and financial rewards are truly the one best way to increase work motivation for an organization. This essay will point out both the pros and cons of making financial rewards the best work motivator in an organization. Why are companies’ making a major concern on motivating employees within our organization? This is because motivated employees perform better in their jobs. Especially with high-ranking officials whom make most of the companies’ important decisions, such as whether it’s a suitable move for a company to invest in a project, or whether it’s a smart choice for a company to expand overseas. If these officials happen to be not motivated, their job performance will show decline; therefore, causing the company to lose huge revenues which may in turn cause the loss of jobs of many. Thus, motivated employees play a huge role in bringing huge returns to a company that will benefit shareholders, employees themselves and also create new jobs for the public as the company expands. The American Heritage Dictionary of the English Language (2006) defined employee "as a person who works for another in return for financial or other compensation". Yes, what it defined an employee to be is correct. People do work in order to get returns financially or other compensation. In the modern era, the corporate world believes that the best way to motivate employees is by providing these employees with higher pays,...
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...AST1 Task 305.6.2-05 Distribution Strategies Washington Governors University Strategies for Motivating Dealerships as Intermediaries Company S is a new manufacturer entering the scooter market. The company’s objective is to motivate dealerships as intermediaries. Company S wants the existing scooter dealerships to sell its product instead of the competitions. The company will motivate the dealerships as intermediaries through Incentive Programs, Profit Opportunities, Sales Quotas, Decision Making, and Frequent/Timely Delivery. Incentive Program. Company S can motivate scooter dealerships as intermediaries by offering compelling incentives. The company could offer a quantity discount on large purchases. A discount will be given to a dealership when purchasing a large quantity of product. This incentive will encourage dealerships to sell the product from Company S versus the product from a competitor who doesn’t offer a quantity discount when making large purchases. The advantage to an incentive program is it creates a strong relationship between Company S and the dealership. Having a strong relationship means loyalty from both Company S and the dealership, which means repeat business for Company S. Repeat business means that the dealership has had an increase in demand for the product, resulting in an increase in Sales Volume for Company S. The disadvantage to an incentive program is the decrease in profit for Company S. Instead of selling 10 scooters profiting...
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...Do you really think that an adult is going to be handed more money just for showing up to work? No, so why should a kid get a trophy for just showing up to a game? According to the "Trophies for all" policy, youth athletes are being awarded with participation trophies. Everything in life should be earned. Also, there is too much money spent on the trophies. Instead of awarding all the time, do it when a youth athlete does something right. The problem is that youth athletes are entitled to getting the awards and you don’t want them to grow up that way. Some people think participation trophies motivate youth athletes. Participation awards shouldn’t be given to youth athletes. Everything in life should be earned as stated in "Trophies...
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