How Pay Is The Most Important Idea That Motivates Employees

carefully planned out and considered, the total closure or failure of the organization could be at hand in the near future. In our modern age, employers know that salary is not the only factor that should be considered and that salary alone will not lead to better or more highly profitable workers alone. This is why compensation planning is important and why pay should have some connection between performance and compensation. This is why the human resources department should consider many monetary and non-monetary factors when considering how to properly compensate and motivate employees (Dessler, 2013).

A recent survey conducted by Mercer Consulting Firm found that salary is the reward component most profoundly appreciated by employees; however, just 55 percent are happy with what they earn. When employees believe, they are being paid short of what

A belief in what the organisation is looking to achieve will allow individuals pride and drive to motivate them.

A well-articulated compensation philosophy drives organizational success by aligning pay and other rewards with business strategy. It provides the foundation for plan design and administration and anchors current and future plans to the company's culture and values (Kaplan, 2006, p.32). Recognizing and rewarding achievement is the cornerstone of the company A’s compensation philosophy. The mission of the company is to attract, select, place and promote all individuals based on their qualifications. The company believes that performance-based compensation helps attract, develop and retain talented professionals. In addition to base pay which based upon local market conditions and targeted to be above market, the company provides the following types of potential compensation to reward performance:

First, the reward should be valued. Reward will not provide motivation for higher performance if it had no value. According to different situation, the reward should be various for different level of staff. For example, an extra compensation package can be given annually to those valuable skilled physicians. It is a useful way to attract and retain good doctors, which will have a aggregation effect for those experienced personnel. These aggregation effect could increase the FSC performance and make a benefits to the organization effectively.

Pay and Rewards – pay and rewards attract, motivate and retain staff. The employment contract which lists rewards, whether it be pay, bonus or benefits, can remove animosity amongst employees and employers. However, recent research reveals that employees are no longer motivated by a financial reward alone, but

There are five major components of job satisfaction, one being monetary benefits (Ghillyer 2010). According to Ghillyer (2012) an employee’s behavior towards their pay may affect their work performance. The issue that arises with employee motivation is that management is unable to satisfy all (Ghillyer 2010). This becomes an even larger problem when employees being joining unions, resigning and being frequently absent (Ghillyer 2010).

A motivated workforce can be a significant success when employees are motivated to work at a higher levels of productivity. Also this means the whole organization is more effective at reaching it’s goals. Rewards can be a positive outcome when it comes to boosting your organizations self-confidence and higher employee satisfaction. Having a reward system can always be a good outcomes because this shows how much your workers are willing to work to achieving a goal in order to receive something in return. This not only gets things done but brings out another side of your organizations as a whole.

Being that there are differences in intrinsic and extrinsic motivators for the current working generations, leaders are responsible for creating diversified compensation packages to better reflect these different motivators in order to keep a competitive

Pay for performance systems have further been proven to have two advantages for organizations: attracting more high-quality employees and motivating employees to exert more effort at their jobs. (Gordon, Kaswin) This paper will show the positive benefits of performance pay as

One of the best ways to keep employees from walking out the door is to pay a higher salary. Paying employees more in salary, however, won't necessarily align them with the company's priorities. In order to do that, companies need

Pay and pay incentives: it is an important factor for the employee when deciding to accept a job offer at a company. Incentives are a great way to motivate staff to achieve goals, and it becomes a reward for great achievements.

The objective of the research in this study is to examine whether increasing salaries of employees is the best motivator to employees. Towards this end, this study conducts a review of literature including journal articles, peer-reviewed academic and professional publications and other sources including information located online that represent valid sources.

Typically one thinks of regular raises as a great motivator of employees. In fact it is understood that the absence of raises can lower morale and affect job performance. Often due to economic downturns, however, companies may go for years without the ability to provide raises, making it imperative that the company find other ways to motivate employees. While raises may motivate employees, the amount of money one makes is not the only driver of motivation. However, raises can be an effective means if the employees are able to recognize that the raise represents a reward for good performance. Even when raises and bonuses are available, more often than not, they are not enough to motivate employees for long periods of time, such as the whole year. After a few short months, the impact of a raise can fade which will reduce the motivation associated with the raise (Blank, n.p.). Employees continually need to feel that their efforts and job performance are noticed and appreciated (Nornberg, 2014). Similar to children, who need instant gratification, some employees can be less motivated by rewards that are too far in the future. Employers may be able to more effectively motivate their employees for good performance and positive behavior if they engage in giving frequent rewards, such as paid time off or gifts (Blank).

Being rewarded and recognised for their work or contribution is what keeps an employee motivated to work towards achieving the organisational as well as personal goals. When the employees is motivated by rewards, they will have job satisfaction consequently increasing the productivity of the organisation. It necessitates the need of managers to pay more attention in understanding their employees and come up with suitable types of reward systems for the organisation so that the employees are intrinsically and extrinsically motivated all the time. The hypotheses that I put forward here is to support this statement that effective reward management is critical to