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Determing the Most Effective Motivational Scheme: Monetary or Non-Monetary Incentives - Research Paper Example

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Research Proposal Determining the Most Effective Motivational Scheme: Monetary or Non-Monetary Incentives Date Determining the Most Effective Motivational Scheme: Monetary or Non-Monetary Incentives Problem Identification Statement The success in any organizational endeavor depends highly on the productivity and performance of its human resources…
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Determing the Most Effective Motivational Scheme: Monetary or Non-Monetary Incentives
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Research Proposal Determining the Most Effective Motivational Scheme: Monetary or Non-Monetary Incentives Determining the Most Effective Motivational Scheme: Monetary or Non-Monetary Incentives Problem Identification Statement The success in any organizational endeavor depends highly on the productivity and performance of its human resources. Human resources functions range from job organization and information, acquisition, maintenance, development and research (Martires, 2004). One of the most important facets of maintaining one’s employees is to keep them satisfied with their job and therefore design an appropriate motivational scheme that would enhance productivity and above average performance. According to Ballentine, McKenzie, Wysocki, and Kepner (2009), “research suggests that desired monetary incentives differ for associates based on career stage and generation. Surveys by the American Association of Retired Persons (AARP) have shown that most workers will work past retirement age if offered flexible schedules, part-time hours, and temporary employment (Nelson, 1999)” (Ballentine, McKenzie, Wysocki, & Kepner, 2009). In this regard, the aim of the current research is to determine with among the motivational incentive scheme would be most effective to employees: monetary or non-monetary incentives. To achieve this objective, the study proposes to design a survey through questionnaire method to be distributed to the employees of the author’s father’s family business to focus on the topic. Specifically, the objective is proposed to be achieved through responding to the following research questions, to wit: 1. Does implementing a motivational program or incentive scheme effective in improving employees’ performance? 2. If so, what is most motivating to employees: monetary incentives or non-monetary incentives? 3. From among non-monetary incentive schemes, what is most important: a. Flexible hours or 8hr shifts. b. Health insurance (mental, dental or both) c. Paid vacations leaves d. Educational benefits for higher education 4. From among the monetary incentive schemes, what is most important: a. Fixed salary, hourly wage or profit sharing. b. Performance bonus. 5. What other incentive schemes would most motivate employees in times that organizations are affected by financial or economic crisis? 6. Is there a link between performance and motivational schemes? Research Methodology As previously indicated, a questionnaire-survey method would be design to assist in achieving the defined problem and to generate appropriate findings to the indicated research questions. The demographic profile and other pertinent background information of the employees must be appropriately defined and recorded to establish any link or pattern to the preferred motivational schemes. The employees of the author’s father’s business are earmarked to answer the questionnaire with the ultimate aim of determining with motivational scheme is most effective to them. Through tabulating the results and using statistical mean, averages, frequency distribution and percentages, the findings that would be generated would be evaluated in terms of patterns of majority of outcomes. Further, a review of related literature using secondary authoritative sources on the subject would assist in validating the results. References Ballentine, A., McKenzie, N., Wysocki, A., & Kepner, K. (2009). The Role of Monetary and Non-Monetary Incentives in the Workplace as Influenced by Career Stage. Retrieved December 26, 2011, from University of Florida: http://edis.ifas.ufl.edu/hr016 Martires, C. (2004). Human Resources Management: Principles and Practices. Quezon City: National Bookstore. Response to Students’ Posts: Employee Engagement and Retention at XYZ Corporation The research topic is relevant and applicable in contemporary organizational setting. As part of the development function of human resources management, training has proven to be most effective in according employees with the opportunities for both personal and professional development. Not only would the organizations benefit from training their own staff, but also, the employees’ who were appropriately trained would be more motivated to perform and produce well. The repercussive positive effects would be beneficial for the organizations’ various stakeholders, including coordinating with supplier and with the local community. Social Media and the Impact on Profitability and Productivity in the Workplace This is an interesting research topic given the controversial nature of allowing employees to access social networking sited or even the internet while within the official work schedule. The traditional view has always revealed that organizations would be compromised and at a disadvantage if they allow their employees to access electronic sites during work hours. However, the information presented by Duncan, which averred that “according to a University of Melbourne study, those employees who engage in “workplace internet leisure browsing” such as watching videos and keeping up to date with friends while at work are 9 percent more productive than those who don’t” should be validated and supported by authoritative and academic peer reviewed sources to increase its validity and credibility. Read More
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