How Pay Is The Most Important Idea That Motivates Employees

Decent Essays
In previous chapters, we discussed that pay is not the most important idea that motivates employees. However if you want to keep great talent that employed and working to build the company. Pay is a great way to stimulate performance. In 2006 a study concluded that 45 percent of employers thought the pay was the cause of losing their best workers, 71 percent of these workers specified that it was the number one cause for them leaving (Robbins & Judge, 2009). "Good introductory paragraph Performance evaluationGood use of headings;

Through my own personal experience, rewards are certainly a motivator of performance. I went from being rewarded for my performance through bonuses and annual merit increases, to being rewarded by the same variable pay program through the use of merit increases and an intrinsic reward system. Four years ago my organization was providing its top performers with decent pay including bonuses, annual merit increases, and job enlargement. However in the past three years my previous employer, a private for-profit higher education institution, went bankrupt and sold the company and most of their holdings to a private non-profit higher education institution. Leading up to the sale of the company, the previous employer informed us that they could no longer provide merit increases until there was improved performance from the employees. This was unacceptable for most of us in lower paying roles, however, they wanted us to work on employee motivation can
Get Access