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The one best way to increase work motivation for an organization is through financial rewards. Discuss. There are some factors, definitions, tendencies in motivation, efforts and practices, either they are in positive or negative. The types of conception used in motivation and financial reward, I would talk about the reasons, contradicting theories, historically views, giving advantages and disadvantages. For the following part, I would find some research for discussing motivation and financial rewards. And also I would show that how it works best with motivation and points giving and to justify my assumptions.
Work motivation is an individual's being and initiate work-related behavior, to determine its form intensity and set of energetic forces, duration and direction. Motivation is avoids negative incentives and a person's internal disposition concerned with and approach positive incentive. To further work motivation, an incentive is aversive event available in the environment or the anticipated reward. Maslow's hierarchy of needs is represented a pyramid with the more basic needs. For the basic level, employees are motivated to work to satisfy basic physiological needs. For the next level of need safety, it could be interpreted to mean living in a safe neighborhood or adequate housing. Then, the next three levels in is relating to psycho-emotional needs and intellectual: love and belonging, esteem. Finally the highest is self-actualization and order need.
An interpretation of Maslow's hierarchy of needs isn't rigid description of human motivation rather scenario for "ideal" conditions. It is limited predictive power, ethnocentric. Ethnocentric is social philosophy and reflecting American middle- class values. Analysis of these critical incident narratives showed that factors which led to job satisfaction were different from those which led to job dissatisfaction. Herzberg called this a "two factor theory of motivation", the two sets of factors being motivator factors and hygiene factors. According this theory, the redesign of jobs to increase motivation and performance should thus focus on motivators or content factors. Improvement in the hygiene or context factors, Herzberg (1968) argued, will remove dissatisfaction, but will not increase motivation and performance. He suggested using vertical loading factors, to achieve job enrichment.
When work motivation can used to be a tool to predict some behavior, it should be combined with environmental factors and ability to influence behavior performance and varies greatly among individuals. It is because the motivation's role in affecting performance and workplace behavior, the major part for organizations is build a work environment to support more productive behaviors, understand and discourage. These are not productive. And why companies need to make the employees have motivation to work? It is because of motivated employees try to work the best of their skill and perform organizational goals.
Why we need to motivated employees? It is because "survival" (Smith, 1994). The research illustrate that motivated employees are more productive. Their performance will better than other unmotivated employees. It is because motivated employees to work the best to business goals or realize their personal. The objectives of managers are confirmed the work force is motivated. This has some argue that the most complex function the manager needs to perform. Because of individual motivation need to keep changing constantly" (Bowen & Radhakrishna, 1991). Financial rewarding is one way to motivating employees to do their work. However academic researches demonstrate that use other way and methods to motivate employees can have a stronger impact on the production of their job. This includes goal setting theory and self-efficacy.
Motivation is "the psychological process that gives behavior purpose and direction"(Kreitner, 1995), "a predisposition to behave in a purposive manner to achieve specific, unmet needs" (Buford, Bedeian, & Lindner, 1995), "the drive to satisfy an unsatisfied need of an individual" (Higgins, 1994) and "the will to achieve" (Bedeian, 1993). These are the three concepts of motivation, Effort, Extrinsic and. Intrinsic. Intrinsic motivation is one of the motivations that come from the employee. There are some examples of intrinsic motivation. They are skill development, enjoyment and knowledge gain. "It is motivation that is controlled by some contingency that depends on task performance" (Colquitt, page 184). Extrinsic motivation is the employee motivated by external rewards.
The following are some definitions of motivation from some experts cited by Moekijat (2002:5), namely:
George R. Terry argued that "motivation is the desire". Harold Koontz argued that the "motivation refers to the drive and effort to satisfy a goal or Want". Committee Term Management and Construction Management Education Institute (Dictionary of Terms Management) suggested that "the motivation is the process or factors that encourage people to act or behave a certain way". Then according to Veithzal Rival (2005:455), "Motivation is a set of attitudes and values that influence individuals to achieve specific things in accordance with individual goals". Then Yuniarsih grandchildren, et al (1998:149-150) argues "Motivation is a psychological process that is inside every person, a driving force (inner drives) that will produce the behavior to perform an action or activity". Gibson et al (1996:185) argues that "Motivation is the force that drives someone who raises and directs employee behavior". Moreover, Malay S.P. Hasibuan (2003:92) points out that "motivation come from the Latin word meaning movere pengerak impetus or power. Motivation is granted only to humans, especially to his subordinates or followers. Motivations questioned how to encourage morale subordinates, so they want to work hard to provide all the capabilities and skills to achieve company goals".
Traditional financial rewards such as cash bonuses or money need explanation. Nowadays, this type of compensation system and reward are still the most useful in the company. As a result, employees are commonly expecting financial reward for their compensation. Therefore, when an employee is considering several chances, normally it is start of negotiations. Most of employers do not understand when to execute the system to maximum effectiveness but employers should understand how to perform the system. Accountemps said that financial executives choose cash or shares to be non-monetary rewards. Cash Still King: Bonuses Best Reward After Major Projects, CFOs Surveyed say that"43% of (CFOs) cited bonuses are effectiveness method to admit a job is good".
Firstly, Financial reward the aims is designed to employees for their contribution throughout the bonus year to the company. Therefore, when they can meet the standard of the company's target, they will be suitable to receive a bonus payment. Financial system is an employee benefits and rewards that companies provide for their employees for their implication and work. Positive results are very important to employee behavior. Financial reward systems pass into critical to employee performance and business success. Also, the financial reward can serve the strategic intention of motivating, retaining employees and attracting.
Secondly, these are some payment systems that a company can use to motivate the employees. Salaries are commonly paid per hour and the employees will receive money at the end of the week. Overtime is paid for extra work hours during the week. But salaries are paid at the end of each month. Financial reward systems are the bonus and stock options to the employees. When they often cover both of these incentives, it may also include other promotions, recognition, reassignment and awards.