Introduction to Management Essay (Assessment Task 1)
‘Remuneration is the only real motivator in today’s workplace.’
In this day and age, performance in the workplace is paramount and all businesses strive to improve it. Whether strong or weak, employee performance is determined by a variety of factors. Of these factors, workers ability, the environment they work in and the workers motivation play the most significant roles. But while ability can be trained and environment can be altered, motivation to do and to perform well is often difficult to capture. To address this, many businesses focus on remuneration in the hopes of improving employee satisfaction and motivation and often apply ‘variable performance-related pay’ (better known as…show more content… This can be characterized by the psychologist Abraham Maslow’s theory of a hierarchy of needs which was proposed in his paper ‘A Theory of Human Motivation’ published in 1943. In his theory; Maslow outlined a hierarchy in which people’s needs were ranked in order of importance. Located at the bottom was physiological needs, followed by safety needs, the need for love and belonging, the need to have self-esteem and self-respect and the final need of self-actualization Maslow’s contention in this theory was that an individual must meet the needs at one level before they can focus and be motivated on achieving the next one. “When need deficiencies are prevalent, the individual is more susceptible to motivational efforts.” (Ankli, R & Palliam, R, 2012, p.8-9) If one has a physiological need such as hunger, remuneration can simply become a means to an end, and their motivation to work stems from their need to eat. Likewise, this can translate to any of the other needs in which their motivation is the satisfaction of their need and their wage is what allows it to be satisfied. Thus, while remuneration can motivate one to do their work, it often pales in comparison to the satisfaction of something that is necessary.
For some, remuneration plays a small role in their minds, as each and every individual has a different set of needs and desires. Differing from Maslow; David McClelland’s Socially Acquired Needs Theory delves into this and