...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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...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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...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...
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...school. I also needed to show them the way that life works because if they don’t graduate from high school and don’t get a GED then it will be hard for them to get a job. My husband and my family also convinced me to get back in school to refresh my memories in order to get me a degree in some kind of study program. I am glad that I have a loving family like mines because some people do not have people to motivate them in a positive way. I generally motivate myself by relying on my own interpersonal motivation; God also generally motivates me to finish in order to obtaining a degree. I can better myself and my family in perusing my dreams. I would hope that one day they would come true. I can teach my children when they eventually grow up. The need that I fall in is esteem need in the Maslow’s hierarchy and the reason I say that is because you have to achieve your goals. These are some of the other roles that play a part in the esteem need they are your activities, academics and etc. I think that these roles do play a huge part in the Maslow’s hierarchy. The strategies that I use to motivate myself are doing exercises to keep my mind open, So that I can concentrate on my work. I would also say getting in a quiet environment in order to focus on my class of study. Feed my children and put them to bed, turn off the television eat me a nutrition meal, and then prepare myself to study for my class. I would also use a quote that I made up myself and it is “You Can...
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...Analyzing Managerial Decisions: Granting Stock Options Ronald J. Sanders Saint Leo University MBA540 Analyzing Managerial Decisions: Granting Stock Option There are a number of studies that would argue a different method of motivating employees or offer advice in ways of 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...
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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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...“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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...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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...Yesun-Erdene.B Can Money Buy Happiness? We live in a society of shopaholics. This process of shopping and purchasing things that we want is the major part of any economy and a main factor that is developing society; therefore, many people have become more materialistic and give a lot importance to money and chasing it. They think that money can’t buy happiness, however; it can. Moreover, money plays an important role in our lives because it helps us to value things in our lives and it motivates people to work hard to make money to have the things they desire. Money helps us to value things in our lives. We human beings are very greedy and we have endless demands. In order to obtain our demands, some amount of money is necessary because it is difficult to be happy when we don’t have access to the necessities. So, once we have gotten our basic demands, these things could make our lives more valuable even if it’s a little bit. For example, when we are stressed out for some reason we just want to take a break or vacation to somewhere with our family where we can relax and enjoy, but it costs a lot of money and there are many people who can’t afford to go to the vacation. However, one of the human necessities is exactly taking a rest. Thus, people must get some rest sometimes, because it will make them happier and give them more energy to live. Otherwise, people will get depressed easily and stressed out often and it becomes a major health problem. Second...
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...Motivation is concerned with the factors that influence people to behave in certain ways. Motivating people is about getting them to follow in the direction you want them to go in order to achieve a result. Motivation can be described as goal-oriented behavior. People are motivated when they expect that a course of action is likely to lead to the attainment of a goal and valued reward. (Arnold et al, 1991) The organization as a whole should provide the context within which high levels of motivation can be achieved by providing incentives and rewards, opportunities for growth, etc. The importance of motivation is one that cannot be neglected. The Hay Group calculates that if the under-performance was tacked successfully, the value of UK output would rise by more than £350 billion a year (Marcousé, 2008). Therefore, motivation matters. In the short run, a lack of motivation may lead to reduced effort and lack of commitment. In the long run, a lack of motivation may result in high level of absenteeism, industrial strife and decreasing profit for the whole organization. Approaches to motivation are underpinned by motivation theories. The most influential theories are classified as follows: The first theory has one main principle: if people do one thing, it will lead to another. In other word, this theory states that people are motivated by financial needs. The theory puts emphasis on economic outcome, which has its root from Taylor’s Scientific Management. He wrote: “It...
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...stimulate people. Some people think that financial methods are the best way to motivate all employees. However, financial methods of motivation are not always the most suitable way to motivate employees, and moreover not all employees. According some study, people have obvious motivation for working. On the contrary, from companies' aspect, using financial reward schemes to motivate also have several problems, summarized as follows: First, are financial rewards costs or investment? Financial rewards are salary or wages, for a company is money. Money is both cost and investment, but Managers have different opinion. Some managers who think financial rewards as company's cost set low payment standard naturally, as little as possible raise, even no raise. Other managers who think financial rewards as the investment expect to motivate employees through high payment, high benefits, and bonuses, raises. They also expect to get a return from this investment. The two views reflect the very different management philosophy, resulting in a distinct managerial effect. Second, are financial rewards needs of high level or low level? It seems money is the low-level, at least not enough noble. In fact, under normal situation, money can help people to achieve any level of Maslow's hierarchy of needs: physiological, safety, belongingness and love, esteem and self-actualization. For most people, income is a flag of achievement to measure McClelland's achievement motivation. The money pursuing is...
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...advertising the vacancy to training and development. That’s why it is much better to retain the employees by keeping them motivated instead of losing them and recruit new once. It will save lots of time, money and efforts. Motivation as defined by the business directory is: “Internal and external factors that stimulate desire and energy in people to be continually interested and committed to a job, role or subject or to make an effort to attain a goal”. Motivation is very important because it increases employee’s productivity and loyalty. People woks harder when they are motivated and satisfied. Companies with motivated staff are more productive and profitable than companies with demotivated staff. To motivate any employee you should know first what motivates him individually and then you can work on a plan and strategies to motivate him. There are many different motivators for the employees like recognition and appreciation, money, popularity, health, learning and development. It’s a very big mistake to think is the cash is the main motivator. More money does not always leads to happy employees. Money only is not enough. Extra money can be spent and forgotten easily and companies cannot just pay money when their employees are demotivated. There are many other ways to motivate the employees. For example: having accurate and clear job descriptions will help retaining the employees because they may leave the company when they are given more roles which is not included in their...
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...Motivation is the key to keeping employees interested in working hard and meeting daily demands from a company. In my point of view managers must be able to successfully motivate their employees in order to prevent high turnovers, satisfy employee needs, and keep an overall good reputation for the company. With a happy employee you will have happy customers as well. Motivational Strategies I believe that in order to properly motivate your employees a manager must first find out how and what different strategies will work for which employees. There are many ways to motivate workers, but I think there are more effective strategies that work on some workers than others. That being said I believe that managers must get on some sort of personal level with their workers in order to efficiently motivate them to work harder and reach the company’s goals. Money The most controversial idea of motivational strategies is money. I personally think that if an employee is not being paid what they believe to be suitable the will be unhappy regardless of any other motivator. Unless the need or want for money is being met, the employee will most likely feel unappreciated and unhappy regardless of any other motivation strategies that an employer might use. A personal example I would like to use is when I worked as a receptionist at Supercuts, I was held responsible for doing a lot of managerial work, without being compensated for it. I soon became overloaded with work, tired, and I was still...
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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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