Money is a motivator to employees within an organisation. Remuneration systems are designed to be fair and equitable and provides employees with "tangible rewards commensurate with their skills and provides recognition and a livelihood-. Remuneration has the potential to influence the work force which can gain maximum advantages for the corporation. Even the most career-minded person who takes success and recognition most seriously must, at some point in their working life, place great emphasis on matters relating to the monetary form of remuneration in the corporation. Money is becoming more and more corresponding with standard of life, social acceptance and opinion validity. Importance must be placed on money to provide for one's family and to generally maximise standard of life. It has been said that money cannot buy happiness, but that statement is becoming more and more outdated as money is increasingly being exchanged for more things than what it could have in the past. Therefore, money is going to be a huge incentive and motivator for employees to perform what is evidently necessary in order to gain more of it. With this in mind, organisations can adapt this motivation tool into their remuneration strategies, human resource plans and organisational plans and goals. Organisations can use this tool to send the message to employees about what is believed to be important and worth encouraging and should not be underestimated. Of course other aspects of the reward system can also be incorporated to increase the motivation power including, but not limited to, career path development and training, access to sporting facilities, improved maternity leave provisions, flexible hours and other lifestyle benefits. Once employees become motivated, money can also be used to attract and retain competent and qualified employees. There are many policy principles and issues that need to be taken into account when addressing remuneration schemes, but if integrated correctly in response to economic fluctuations, it can be a very influential motivation tool which organisations need to explore.
Modern society may possibly stimulate a typical employee as money desirer. ... Money is just the aspect that can indicate individuals' actual needs in modern society more correctly. ... Inspirations from colleagues make them motivated. ... Leadership Leadership is a process of motivating people. Effective leadership, indeed, is an important motivator. ...
In order to do this, the man will have to have money. The necessity of money becomes the man's drive in this situation. ... A man can also be motivated to work by incentives. ... The assumption was that people being motivated primarily by money, would maximize their work output if they were offered the incentive of extra money for each increment of work(Bowey). ... They get a bigger "kick" out of winning or solving a difficult problem than they get from any money or praise they receive(McCelland). ...
Motivating employees increases overall productivity which is very beneficial for the company. ... As a result, organizations continually spend a lot of money to ensure that their employees feel appreciated. ... While money is a significant motivator, it only goes so far particularly concerning job satisfaction. ... While money is an important factor, a long term strategy which enhances the morale of employees is quite vital. ... Some positions require highly motivated individuals compared to others. ...
Money as a Motivator Money is NOT the top motivator. ... Money is a need. ... Gerald Graham, professor of management at Wichita State University in Wichita, Kansas, also found that money wasn't a top motivator. ... Under theory Y; money is not the primary motivator. ... Frederick Taylor advocates money to motivate Frederick Taylor was one of the early advocates of using money to motivate workers. ...
Theme parks, such as Disney and Universal, offer discounts, free park entrance, and a form of money that can only be used at those parks. ... As a manager, a person would need to think of new and original ways to motivate his or her employees, and not let the "de-motivators" bring everyone down. Managers are paid more money to do exactly what their job descriptions say they do: manage. ... The happier the customers, the more money they are willing to spend, and money is the lifeline of any successful business. ... The first employee to do so, gets Universal only money, and gets to give th...
If a person works in a company only because of money or is money-motivated, that person can easily be purchased by that company's rival. ... That's why employers should understand that a money-motivated employee is a potential "snake" of the company. Money by itself is obviously not a sufficient motivator at work. ... The next factor that keeps the personnel motivated is the condition of their labor. ... Money is definitely now a good and certainly not the only motivator that should be used at work. ...
The company makes well over enough money to support all of our needs. ... He added, that his negotiating skills were not up to par it could cost him lots of money. ... Many things motivated him to be a leader. ... This motivates him to do his very best and he finds it rewarding to accomplish goals. ... This can save him a lot of money and headache in the long run. ...
In today's society it seems like money is everything. ... Money can help schools buy better equipment. ... It is a lot easier for the students to be motivated and easier to develop the skills with newer and nicer athletic equipment. ... Our teachers would probably be more motivated to teach if they knew that their extra effort would be worth a little more money to them. Money makes the world go round. ...
Keeping employees motivated is important for every organization, including Picerne Military Housing, because motivated employees are the key to maintaining a productive and successful business. Therefore, managers must find ways to motivate employees and make them want to live up to their full potential. ... Motivating employees can be one of your biggest challenges as an employer. ... Overall, Picerne does well at incorporating each theory to help inspire, motivate, and help their employees succeed but there is always room for improvement, Keywords: understand; overshadow; inspire; motivate...