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Motivation and Rewards Assignment Brief: The Current Economic Conditions are Creating Uncertain Job Conditions - Essay Example

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Topic: Motivation and Rewards Assignment Brief Name Professor Institution Course Date Motivation Motivation refers to the internal and external factors within and outside an organization that stimulate desire and energy among employees to make them committed to the attainment of organizational goals (Kontodimopoulos, Paleologou & Niakas, 2009, p…
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Motivation and Rewards Assignment Brief: The Current Economic Conditions are Creating Uncertain Job Conditions
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Download file to see previous pages The other factor is the expectations of the employee or the management of the organization. Motivation is an essential element in human learning. In the context of an organization, motivation ensures the success of the organization because humans are a central component of the organization. It is difficult for employees to carry out their jobs in effective manner without an element of motivation. This is supported by the fact that the failure of an organization to motivate employees hinders its potential to use knowledge in an efficient manner. It is thus important for organizations to identify different approaches of motivating employees or else the organization faces the risk of having difficulties with maintaining its workforce and achieving its goal. A good number of organizations are faced with a number of questions such as how do we motivate employees? Is money the best motivating factor? Given a choice between money and work enjoyment, what motivating factor will be preferred by most of the employees? These are some of the questions that guide organizations whenever they make decisions to pursue particular motivation programmes. In the current economic conditions, organizations are facing hard economic times that have seen them take different approaches to address the situation. Some of the organizations are even taking steps towards cutting employee pay or even dismissing their employees. This is given the fact that most of the organizations have been implementing reward programmes for their employees. They spend a lot of money on such programmes because of the reason that such rewards have the effect of increasing motivation among employees and also retain employees by making them stay longer. However, there is the question of whether money is the only motivating factor that can make things happen. Pay-for-performance has been a long established management practice that has been used to boost employee morale in addition to performance. According to the expectancy theory developed by Victor Vroom in 1964, employees are expected to increase their efforts whenever there is offering of rewards. The discovery of the expectancy theory has led to a number of criticisms with a number of researchers refuting claims that money is not the absolute motivating factor among employees of an organization. According to Hawthorne studies conducted by Elton Mayo, employees are more motivated by human relations and the understanding of attitudes than money. The studies concluded that employees always seek the attention of managers and this makes them become loyal to the organization. It is therefore important to understand financial and non-financial rewards used by organizations in response to the prevailing difficult economic conditions. This is to enhance the understanding of how organizations utilize different forms of motivation in enhancing the performance of employees towards achieving organizational goals. Defining financial and non-financial rewards Financial Incentives Research studies indicate that money is considered to be the most powerful and influential incentive (Islam & Ismail, 2008, p. 349). Money is commonly used in motivating employees in organization. According to Islam and Ismail (2008, p. 100), financial incentives may take the form of direct monetary gain such as personal income. Fagbenle, Adeyemi and ...Download file to see next pagesRead More
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