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Is Money the Primary Motivator - Assignment Example

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This paper highlights that various researchers have proposed their own factors that motivate employees, some give precedence to money over other factors and others are of the perspective that money is not the primary motivator. For example, McClelland proposed the theory of needs…
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Is Money the Primary Motivator
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Download file to see previous pages One of the compulsory functions of human resource department of any organization is to retain employees. They believe that employees can be retained if they are paid higher wages is completely a myth, if this would have been true then highly paid members of an organization would not have left their jobs for better positions and learning opportunities In this writing, the focus will be on the factors that motivate employees and how managers can use these factors to get the work done from employees.
Currently, the economic conditions throughout the world are experiencing a downward sloping curve, organizations are finding it difficult to make profits and due to the decrease in profitability, they have even cut down on employee wages. Even under these economic circumstances, several employees stay loyal to their organizations and are even ready to work for lower wages.
This is because the organizations they are working in are providing them with opportunities to learn and opportunities to develop their knowledge, skills, and abilities and are helping employees in advancing their careers. While making managerial decisions regarding recruit, selection, and retention, managers need to know that money can purchase the best employees in the industry but money cannot surely purchase employee loyalty.
There are several methods through which employers can attain the target of motivating employees, one such method is the management of human value, which is defined as the creation of value with the assistance of people and delivering value to people. The environment has become very inconsistent and changes are taking place at all times, this means that one fixed approach cannot be used by organizations while they operate or while they motivate employees. ...Download file to see next pagesRead More
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