StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...

Are Bonus Schemes an Effective Way of Motivating Employees - Research Paper Example

Comments (0) Cite this document
Summary
The paper "Are Bonus Schemes an Effective Way of Motivating Employees" discusses that bonus schemes are meant to reward excellent employee performance and act as a stimulant to other employees to enhance performance in the future while retaining food performing employees…
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER97.3% of users find it useful
Are Bonus Schemes an Effective Way of Motivating Employees
Read Text Preview

Extract of sample "Are Bonus Schemes an Effective Way of Motivating Employees"

Download file to see previous pages The definite development of interest in employee motivation can be traced back by about a hundred years to the beginning of the twentieth century, when in essence behavioural scientists studied the behaviour and the response to stimuli, with particular emphasis on material benefits derived from work, for the initial studies had led to the belief that workers increased their effort, based on the monetary benefits received. This led to material benefits and its impact on employee motivation becoming the focus of studies and the basis of motivational action within business environments during approximately fifty years of the history of employee motivation (Latham, 2006). 2. Literature Review Several content and process theories on work motivation have emerged from the efforts put in by work motivational theorists, leading to the requirement of further classification in any study of work motivational studies. This classification is based on human behaviour and that which underlies human motivation in the form of needs, reinforcement, cognition, job characteristics and feelings or emotions (Ramlall, 2004). In 1954, the behavioural scientist Maslow published his theory in motivation called Maslow’s need hierarchy theory or the hierarchy of needs theory. In this theory, Maslow postulates that the main driver in human behaviour is the satisfaction of an individual’s needs and he categorised these needs consisting of physiological needs, safety needs, social needs, esteem needs and self-actualization needs and put them into five levels (Halepota, 2005). Incentive schemes in business organizations are set up with the purpose of enhancing performance through meeting the needs of the employees. The success of incentive schemes would be high or low depending on the personal context of the employee. In the case of employees at the lower levels of Maslow’s need hierarchy cash rewards by itself act as a means to meeting these basic needs, Those at the higher levels of Maslow’s need hierarchy may require in addition to cash rewards other rewards, which we could term as ‘satisfaction income’ in terms appreciation, interesting work, freedom at the work and empowerment for satisfaction at the workplace. Such rewards have to be fair and irrespective of the various other aspects of motivation at the workplace cash rewards still remain a key incentive for employee performance (Rai, 2004). Kauhanen and Piekkola, 2006, evaluating the motivational effects of performance-related pay schemes and bonus schemes on upper white-collar employees in Finland found several important features. Among these features was the finding that for performance-related pay schemes and bonus schemes, the levels of these schemes should be high and frequent enough for positive motivational effects. Lower levels of performance-related pay schemes and bonus schemes do not bring about the desired increase in motivational levels for higher performance behaviour (Kauhanen & Piekkola, 2006) ...Download file to see next pages Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(Are Bonus Schemes an Effective Way of Motivating Employees Research Paper, n.d.)
Are Bonus Schemes an Effective Way of Motivating Employees Research Paper. Retrieved from https://studentshare.org/management/1424378-research-methodology-assignment
(Are Bonus Schemes an Effective Way of Motivating Employees Research Paper)
Are Bonus Schemes an Effective Way of Motivating Employees Research Paper. https://studentshare.org/management/1424378-research-methodology-assignment.
“Are Bonus Schemes an Effective Way of Motivating Employees Research Paper”, n.d. https://studentshare.org/management/1424378-research-methodology-assignment.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Are Bonus Schemes an Effective Way of Motivating Employees

Effective Alignment of Information Technology

Considering reports and issues such as privacy regulations, data protection, risk management compliance, project management and governance, information security, business continuity management and effective corporate governance, an effective IT infrastructure seems to be the primary tool for the implementation of practical and strategic solutions. An updated IT infrastructure is important for improving corporate governance and shareholder returns (Kaen 2003; Trites, 2004).
According to the Global Corporate Governance Principles, "Corporate governance" refers to the "relationship among various participants in determining the direction and performance of corporations. The primary participants are (1) the shareholders, (2) the m...
44 Pages (11000 words) Research Proposal

An Effective Planning Process

Managements first and the most fundamental problem is selecting the right individuals with the prospective for development. evenly important is the placement of those individuals in positions in the organizational structure where their talents are most desired.
Manpower development instigates with human resources planning also known as manpower planning, which establishes a firm's specific personnel rations. These are attained by a qualitative fortitude of the individual job specifications and of the specific characteristics required of a person for the successful performance of each job. Once these job requirements are recognized, it is essential to forecast the number of persons desired for each job. This stage of employmen...
11 Pages (2750 words) Coursework

How Effective Are the Current Environment and Ethical/Social Policies of Tesco

 Tesco has been accused of indulging in unfair and monopolistic activities, unethical price of price undercutting thus creating a squeeze on the competition and the local farming community. The volumes of goods traded and retailed leave a large carbon footprint. However, Tesco has stood it is for quite some time now by creating and implementing policies for ethical and responsible for not only fending media accusations but also by stating, and implementing ethical and social policies.

According to Walley (2005), sustainable practices are best developed with an interplay of forces outside organizations like laws, regulations, and competition and organizational policies like governance, and social and ethical practic...
10 Pages (2500 words) Assignment

Effective Methods of Teaching Anatomy

Herein, comparisons will be made to highlight the differences in using anatomical models for study versus self-directed (usually textbook) learning. As well, the use of tutors as an advantage in the medical classroom will be discussed.

Some students are hands-on learners. For them, three-dimensional (3D) anatomical models are effective. “Exploratory tools enable users to investigate structures in ways not possible in the real world” (Implementing, para. 3). These 3D models can represent just about any part of the human body. Models are available of small structures, like the head, or of the entire human skeleton. Models of the entire human body can also be purchased. Some of them even have removable parts so...
6 Pages (1500 words) Report

Measures of an Effective Organizational Performance

Social capital has an important role in the goal-attainment of actors through the support of relationships. Actors could either be individual people or groups such as firms and other organizations. In groups, the social relations matter most between, and not within, the groups (ibid). Apparently, it cannot be discounted that within the group and individual has social capital in associations between people, yet then the significant actors are the members of an organization, not the organization as a whole. Like physical and human capital, social capital also demands investment to construct.
Entrepreneurs and managers nowadays are venturing into the realm of social capital because of two important elements that trail with it, w...
10 Pages (2500 words) Assignment

Effective and Ineffective Evaluation Tool

It has been an endless matter of debate for decades as to which methods reap effective results and which not.
One of the most effective tools for assessing students’ annual performance has to the one with a more comprehensive approach. The feedback by the teachers is very crucial for the students. It is the assessment plan which is developed by the teachers upon the on-going students’ achievements throughout the course and not merely upon the written traditional examinations1. It is considered to be an effective assessment tool because it reflects directly on the teaching and learning process of the teachers and students respectively. Feedbacks also help the students to engage in reflective, constructive and analy...
7 Pages (1750 words) Assignment

Response of Effective Leaders to Diverse Team Environments

An effective leader is the one who adapts to the changing scenarios in terms of the team he leads and also in terms of the circumstances that the team faces. Herscovitch and Meyer (2002) have confirmed that workplaces are faced with endless change (s), and Paton and McCalman, (2000) have further stated that effective management of that change is an important competency currently required by an organization

Advancement in technology, travel options, communications and liberalization of international business regulations has incorporated numerous possibilities of conditions with diverse natures within the work environment. This trend was found to increase in the early nineties. The transference of a command-driven economy...
7 Pages (1750 words) Case Study

Impact of Motivational Factors upon Employees at Bank AlFalah and Standard Chartered Pakistan

The impacts of these policies upon the employees of the banks will be studied with the help of the responses of the employees of both of the banks. The proposed research study will present the case studies of these two banks by employing a qualitative research approach. The data and information for the study will be collected through secondary and primary resources i.e. through literature review and in-depth interviews of the employees of both the banks. The study will help in the identification of the major strengths and weaknesses present in the motivational policies of these banks and will allow proposing the formulation of improved policies.

Motivation basically refers to satisfying one’s needs through differe...
14 Pages (3500 words) Research Proposal

Humanistic Buddhism: A Way of Nirvana for Modern Man

However, how many people in today’s modern world are ready to renounce their life of comfort and materialistic pleasure to know the ultimate truth of life? Hardly anyone will be ready to renounce the pleasures of life. Hence, as Buddhism was believed to be a religion of suffering and severe self-discipline, very few people from the modern world were ready to practice it. However, Humanistic Buddhism, by modifying the teachings and simplifying the practices of the religion, gave a fresh and renewed beginning to Buddhism. Humanistic Buddhism, by modifying its practices to suit the social demands of modern life, has not just saved Buddhism from dying out but has also helped people to find happiness and satisfaction in life by s...
8 Pages (2000 words) Assignment

Ideal Way of Achieving the American Dream

According to the American dream, everyone is equal despite his or her gender while pursuing the dream. Majority of Americans interpret it as the attainment of wealth; the dream embodies the attainment of materialistic goals. However, others view the dream as more than the achievement of material wealth. Furthermore, the American dream depicts America as the country full of opportunities (Bloom & Blake 5).
Over the years, Americans have perceived the American dream differently. The dream has changed significantly since the days of the founding fathers. First, it promised Americans equal opportunities then it became the achievement of material wealth (Kochan 3). F. Scott Fitzgerald illustrates the American Dream aptly in hi...
11 Pages (2750 words) Literature review
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Research Paper on topic Are Bonus Schemes an Effective Way of Motivating Employees for FREE!

Contact Us