IMPROVING EMPLOYEE MOTIVATION WITH MONEY.   Term Paper ID:29964 Click to get this paper

Essay Subject: Examines whether pay/wages is a useful method of improving employee motivation.... More...

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Paper Abstract: Examines whether pay/wages is a useful method of improving employee motivation. Links the concept of money to motivation theory & link with job satisfaction. Discusses causal models; hierarchy of needs model; Expectancy theory; goal setting; Management-By-Objectives (MBO). Assessment of money as the prime motivator. Performance-based compensation system. Concludes that compensation is not the only motivator. Paper Introduction: MONEY AS A MOTIVATOR: A REVIEW Introduction This review focuses on the following question: How useful is pay as a method of improving employee motivation? In the review, the concept of money as a motivator is linked to motivation theory. Defining Motivation and Motivation Theory Motivation is the process of persuading individuals to act in a desired way. Within most organizational environments, motivation is the process of persuading members of the organization to perform in a productive manner. The need to motivate members of an organization to perform in a productive manner is a well-accepted premise. Disagreement exists, however, in relation to the best means of motivating individuals within organizatio Text of the Paper: The entire text of the paper is shown below. However, the text is somewhat scrambled. We want to give you as much information as we possibly can about our papers and essays, but we cannot give them away for free. In the text below you will find that while disordered, many of the phrases are essentially intact. From this text you will be able to get a solid sense of the writing style, the concepts addressed, and the sources used in the research paper. ofmoney as a motivator is linked to to perform in aproductive manner The motivating individualswithin organizational environments Luthans Several theoretical approaches for the of job satisfaction The early efforts to measure of satisfaction that in turn would or and assessed theeffects of motivating factors accurately define the relationships betweenmotivation job satisfaction and various job satisfaction and could motivate individualswithin organizational environments human needs into higher andlower orders The lower satisfaction of thoseneeds become the center of the individual's life contended that in modern societies be introduced that would enhance anindividual's opportunity to attain hygiene factors and motivation factors Maslow'shierarchy in a disincentive for the individual toperform productively By contrast gain responsibility and soforth as motivational Herzberg's two-factor theory continues to be tested One such testfound hygiene factorswere found to be sources of job satisfaction a person's affective staterelative to several job facets or averaged them into aglobal measure Other widely used offered the expectancy theory of motivation Expectancy theory as an Mastrofski Ritti Snipes p Expectancy mustbe in place the performance reward expectancy the an analysis of an individual's performance on any job however be thought of as specific performing aparticular action Locke Latham McClelland offered a Another concept management by objectives are related torewards for the attainment of experts and commentators to contend thatmoney is the highly potent motivator Used wisely with the ability to acquire material Relying on money as the prime motivator however does benefit system when the company committee devised twocompensation plans that were eventually found a third plan which was found to be the best the company failed to realize initially however was the level firms have encountered similar problems Rosenberg reviewed the practice in such a scheme both reduces conflicts recommends that professional firms develop performance-basedcompensation systems what isrequired of them reward the values held compensation systemestablishes a link between something to the other in performance Rubery Performance-based compensation is gaining is not always rewarded Marsden Richardson in their jobs p If the contentions undermines anemployee's sense of intrinsic task interest p This contention economy is not structuredto depend individuals The author however also compensation of such workers to reflectcomparative performance deteriorations and benefits management can leadto success The approach adopted motivator Seldom however will compensation Business Bassett G March-April Merit pay increases are a Gummer B Spring What's in it Compensation and Benefits Review Herzberg F Work and V A Relationships among facultypractice involvement perception of role nature and causes of job satisfaction InDunnette M job satisfaction among public and private sectors PublicPersonnel psychology of science A reconnaissance January Not all partners are created equal CPA-Journal l L M Hulin C L Motivational tools that can work is pay as amethod of improving Within most organizational environments motivation is theprocess of is a well-accepted premise Disagreementexists however in relation to fall into content and processcategories attempted to identify and assessthe types models were primarily those associated with individual needs andindividual values completelysatisfactory Locke The causal models did job satisfaction Blegan Researchers then oriented studies toward the motivation and job satisfaction Scott Maslow dealt with motivation through involveaffiliation love for others and self-actualization When the lower desiresto satisfy their higher order needs Maslow Maslow recognized beemployed to motivate individual within organizational Maslow's hierarchy of needs Thetwo-factor so forth in the hygiene group An unsatisfactory ofperformance Herzberg's motivational factors included such things in any disincentive to perform Asatisfactory status for these factors extent than was true among private sector employees For and theinterrelationships between these factors Operationally motivation researchers have considered the effects Lambert Still others consider the construct only on an individual's perceptions ofthe likelihood of opportunity to perform the instrumentality potential rewards must be commensurate with the effortrequired to setting Goal setting is acognitive theory of assumption that human behaviour is purposeful andthat goals direct and with situations McClelland however tended to emphasize the need subordinates jointly establish performanceobjectives for and Shaw are among the latest should design incentive schemes based This contention is based on the attribution of two primarycharacteristics This argument holds that moneymotivates people regardless performance TheUS Shoe Corp encountered managers was charged with the responsibility of creatinga success wasachieved and lessons were learned These that thereorganization would require substantial changes a focus on individual output though they do not make equalcontributions to the fact lead todissatisfaction and failure concluded fromconsultations with professional accounting firms that the compensationsystem the marketingdepartment p Performance-based compensation may In such a relationship each party makes of reward however compensation is usually considered to have mixed opinions about performance-basedcompensation The most consistent Bassett contended that performance-based compensation bribes employees to sustain their of compensation differentials Bassett contended further that the use that while legitimate and important differences of opinion in the motivation of workers toperform better and that rewards This problem is the choice loss of potentially talented workers Gummer its employees and the plan should bereviewed periodically to assess July The nature and causes of Ameta-analysis of related variables Nursing Work Gupta N Shaw J D March-April Let the evidence Snyderman B B The motivationto work New York John Wiley P A theory of goal setting andtask performance Englewood Organizational behavior th ed New York McGraw-Hill Maidani IndustrialRelations Maslow A H Motivation and police productivity in DUI enforcement Law Society Review McClelland natural and opensystems th ed Englewood Pittsburgh Pennsylvania University of Pittsburgh Press money as a motivator a review motivation theory Defining Motivation and Motivation Theory Motivation is need to motivate members of an explanation and development ofmotivation within organizational environments have been advanced motivation and job satisfaction resulted inthe development of causal models would not motivate themto perform on organizational outcomes primarily withinthe context of organizational outcomes and todevelop effective strategies to promote desirable Locke This body of work order needs are primary such as food shelter sex In most modernsocieties however the primary needs these needs weregenerally met Thus self-actualization Herzberg Mausner and Snyderman developed the two-factor of needs and Herzberg's two-factor model are not identical Herzberg however a satisfactory status for thefactors factors in the organizational life that public sector workers tended to value extrinsic or Maidani Most contemporary content theories of motivation and job satisfactionfocus including the supervisor the work itself measures of job satisfaction divide theconstruct example of a universally applied theory ofmotivation theory functions through four factors as follows theeffort performance level of effortrequired to obtain a specific level of reward the theory would be less useful in the outcomes or goals they hope dynamic theory of needs that implied thatmotivation was need MBO also is used tomotivate individuals in organizational the objectives a combination that isintended strongest motivator in relation to obtaining desired levels oforganizational performance moneyas an incentive can result benefits and second money represents status and worth in society not ease thetask of developing an effective compensation and benefits reorganized itsmanufacturing processes around a to be limited Despite thefailure for the company Burchard p of difficulty that was involved in maintaining many public accounting firms wherein the and fostersteamwork Rosenberg p Rosenberg however that that account for varying to be most important by partners performance and reward With respect return Thus employees exchange their performance in popularity as amotivational technique Employees in Wright argued further that higher performancegoals often are attained through of this author are correct however however is a minority opinion and it too heavily on altruism Gummer in contrast to Bassett drew attention to astructural problem A failure to adjust performance-based compensation plans by an organization however must conformto the be the onlymotivator and frequently may not mistake Compensation and Benefits Review for me Perspectives on thedistribution the nature of man New stress and psychologicalhardiness of nurse educators Journal of D Ed Handbook of industrial and organizationalpsychology New Management Marsden D Richardson R June Performing for NewYork Harper Row Publishers Mastrofski S D Ritti R R Rubery J September Performance-related pay and theprospects for gender pay The measurementof satisfaction in work and retirement Chicago Rand too well Compensation and BenefitsReview employee motivation In the review the concept persuading members of the organization to the best means of Motivation is closely linked with the concept of organizational phenomena that influenced individualperceptions The causal models then measured not provide the strength and preciseness ofanalysis required to identification of the specificfactors that affected the theory of thehierarchy of needs The hierarchy divided orderneeds are absent in the life of an individual the the significance of lower order needs asmotivators yet structures Specifically factors had to model divided the factors involved in an individual'sorganizational life into status of any ofthese hygiene factors could result asopportunities to achieve opportunities to would motivate an individual to seekexceptional levels of performance public sector employees both motivation factors and andjob satisfaction has been investigated as of thesefactors separately whereas others have summed in a global context Bagozzi Blegen Vroom and Yetton obtaining desired outcomes contingent on specificactions by the individual ofperformance a recognized linkage between specific behavior and reward obtain them Expectancy theory thus could be appliedeffectively in motivation based on the premise that people have needsthat can sustain an individual's energies towards to wield power asa prime motivator the subordinate The objectives typically of that group of humanresources management theorists on the premisethat money is an effective and of money that motivate people First money providespeople of the type of work in which they are involved problems when the company attempted to redefineits compensation and new compensation and benefits plan This insights were then used in thedesign of to its compensation andbenefits system What to afocus on work group output Professional organizational success p Firms observing thispractice argue that to maximize performance p Rosenberg thus should be based on performance motivate partners to perform be applied in organizations otherthan professional firms A performance-based demands onthe other and each party provides to be the primary reward for criticism is that allocation systems areunfair and thus good performance interest and to exert effort of money as a motivator exist in relation tothe performance-based compensation the American enable organizations to attract moretalented of either overpaying average workers orcontinually reducing the Conclusion Different approaches to compensation such conformance Compensation will alwaysbe an important self-esteem performance and satisfaction Journal of Research Burchard T March An experiment an compensation IIE-Solutions speak Financial incentives are effective Sons Inc Lambert C Lambert Cliffs New Jersey Prentice-Hall Inc Locke E A The E A Comparative study of Herzberg's two-factortheory of personality New York Harper Bros Publishers Maslow A H The D The achieving society New York IrvingtonBooks Rosenberg M L Cliffs New Jersey Prentice-Hall Inc Smith P A Kendall Wright P M May-June Goal setting and monetary incentives Introduction This review focuses on the following question How useful the process of persuading individuals to act in adesired way organization toperform in a productive manner At ageneral level these theories tend Locke The causal models wereprocess-oriented in that the researchers productively Phenomenological factors incorporated in thecausal need-value conflict These models were not organizational outcomesthrough the enhancement of motivation and hascome to be known as content theories of and physical security while the higher order needs are satisfied Thus real motivation-especially within organizational structures-results from individual it was Maslow's contention that other means had to modelof motivation that is often confused with included such factors as compensation working conditions and would not motivate the individual to exceptional levels of an individual the absence of which would not result hygiene factors to a greater on specific factors of job organization and individual pay promotion opportunities and coworkers Smith Kendall Hulin Blegen Some into intrinsic and extrinsic components Lambert is a cognitive theory based expectancy individuals must perceive that they possessboth the ability and must be known and thereward cost balance prediction of career choicedecisions Another motivational theory is goal to obtain Goal theory makes the driven and that need drivers change environments Under an MBO regime organizational superiors and to motivate performance Luthans Assessing Money as a Motivator Gupta and commitment They contend that humanresource managers in substantial benefits Gupta Shaw p therefore more money equals moresuccess Gupta Shaw p system that canbe isolated from other factors affecting organizational team-based work group structure Acommittee of eight of these early initiatives a moderate level of US Shoe recognized at the outset perceptions ofcompensation equity which shifting from firms pay all their partners equally even contendsthat this model of compensation management may in levels of capabilitiesand contributions by perform Rosenberg be perceived as fair by partners flexible and involve toorganizational commitment organizations and their employees are in anexchange relationship for organizational reward within aninstitutional structure There are several types organizations where the approach hasbeen applied however tend trade-offs in product quality levels one couldquestion to entire concept is important to bear in mind pointed out thatcompensation has been found to be effective associated with a performance-based compensation system according to performance outcomes however causesan organization to risk the needs of the organization and be the strongest motivator References Bagozzi R P Blegan M A January February Nurses' job satisfaction of rewards in organizations Administration in Social York WorldPublishing Herzberg F Mausner B Nursing Education Locke E A Latham G York John Wiley Sons Luthans F pay Theeffects of merit pay on motivation British Journal of Snipes J B Expectancytheory and equity Journal of Management Studies Scott W R Organizations Rational McNally Vroom V H Yetton P W Leadership and decision-making ofmoney as a motivator is linked to to perform in aproductive manner The motivating individualswithin organizational environments Luthans Several theoretical approaches for the of job satisfaction The early efforts to measure of satisfaction that in turn would or and assessed theeffects of motivating factors accurately define the relationships betweenmotivation job satisfaction and various job satisfaction and could motivate individualswithin organizational environments human needs into higher andlower orders The lower satisfaction of thoseneeds become the center of the individual's life contended that in modern societies be introduced that would enhance anindividual's opportunity to attain hygiene factors and motivation factors Maslow'shierarchy in a disincentive for the individual toperform productively By contrast gain responsibility and soforth as motivational Herzberg's two-factor theory continues to be tested One such testfound hygiene factorswere found to be sources of job satisfaction a person's affective staterelative to several job facets or averaged them into aglobal measure Other widely used offered the expectancy theory of motivation Expectancy theory as an Mastrofski Ritti Snipes p Expectancy mustbe in place the performance reward expectancy the an analysis of an individual's performance on any job however be thought of as specific performing aparticular action Locke Latham McClelland offered a Another concept management by objectives are related torewards for the attainment of experts and commentators to contend thatmoney is the highly potent motivator Used wisely with the ability to acquire material Relying on money as the prime motivator however does benefit system when the company committee devised twocompensation plans that were eventually found a third plan which was found to be the best the company failed to realize initially however was the level firms have encountered similar problems Rosenberg reviewed the practice in such a scheme both reduces conflicts recommends that professional firms develop performance-basedcompensation systems what isrequired of them reward the values held compensation systemestablishes a link between something to the other in performance Rubery Performance-based compensation is gaining is not always rewarded Marsden Richardson in their jobs p If the contentions undermines anemployee's sense of intrinsic task interest p This contention economy is not structuredto depend individuals The author however also compensation of such workers to reflectcomparative performance deteriorations and benefits management can leadto success The approach adopted motivator Seldom however will compensation Business Bassett G March-April Merit pay increases are a Gummer B Spring What's in it Compensation and Benefits Review Herzberg F Work and V A Relationships among facultypractice involvement perception of role nature and causes of job satisfaction InDunnette M job satisfaction among public and private sectors PublicPersonnel psychology of science A reconnaissance January Not all partners are created equal CPA-Journal l L M Hulin C L Motivational tools that can work is pay as amethod of improving Within most organizational environments motivation is theprocess of is a well-accepted premise Disagreementexists however in relation to fall into content and processcategories attempted to identify and assessthe types models were primarily those associated with individual needs andindividual values completelysatisfactory Locke The causal models did job satisfaction Blegan Researchers then oriented studies toward the motivation and job satisfaction Scott Maslow dealt with motivation through involveaffiliation love for others and self-actualization When the lower desiresto satisfy their higher order needs Maslow Maslow recognized beemployed to motivate individual within organizational Maslow's hierarchy of needs Thetwo-factor so forth in the hygiene group An unsatisfactory ofperformance Herzberg's motivational factors included such things in any disincentive to perform Asatisfactory status for these factors extent than was true among private sector employees For and theinterrelationships between these factors Operationally motivation researchers have considered the effects Lambert Still others consider the construct only on an individual's perceptions ofthe likelihood of opportunity to perform the instrumentality potential rewards must be commensurate with the effortrequired to setting Goal setting is acognitive theory of assumption that human behaviour is purposeful andthat goals direct and with situations McClelland however tended to emphasize the need subordinates jointly establish performanceobjectives for and Shaw are among the latest should design incentive schemes based This contention is based on the attribution of two primarycharacteristics This argument holds that moneymotivates people regardless performance TheUS Shoe Corp encountered managers was charged with the responsibility of creatinga success wasachieved and lessons were learned These that thereorganization would require substantial changes a focus on individual output though they do not make equalcontributions to the fact lead todissatisfaction and failure concluded fromconsultations with professional accounting firms that the compensationsystem the marketingdepartment p Performance-based compensation may In such a relationship each party makes of reward however compensation is usually considered to have mixed opinions about performance-basedcompensation The most consistent Bassett contended that performance-based compensation bribes employees to sustain their of compensation differentials Bassett contended further that the use that while legitimate and important differences of opinion in the motivation of workers toperform better and that rewards This problem is the choice loss of potentially talented workers Gummer its employees and the plan should bereviewed periodically to assess July The nature and causes of Ameta-analysis of related variables Nursing Work Gupta N Shaw J D March-April Let the evidence Snyderman B B The motivationto work New York John Wiley P A theory of goal setting andtask performance Englewood Organizational behavior th ed New York McGraw-Hill Maidani IndustrialRelations Maslow A H Motivation and police productivity in DUI enforcement Law Society Review McClelland natural and opensystems th ed Englewood Pittsburgh Pennsylvania University of Pittsburgh Press If this paper is not what you are looking for, you can search again: Search for: or Click here to request an essay written just for you.

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