Is Remuneration The Sole Motivator?

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

Employees are motivated by both intrinsic and extrinsic rewards. In order for the reward system to be effective, it must encompass both sources of motivation. Studies have found that among employees surveyed, money was not the most important motivator, and in some instances managers have found money to have a de-motivating or negative effect on employees.  This research paper addresses the definition of rewards in the work environment context, the importance of rewarding employees for their job performance, motivators to employee performance such as extrinsic and intrinsic rewards, Herzberg’s two-factor theory in relation to rewarding employees, Hackman and Oldman model of job enrichment that

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).

Motivation is the force that makes us do things, whether accomplishing personal goals or completing tasks at work. Most people are motivated as a result of their individual needs being satisfied, which gives them the inspiration to perform specific behaviors for which they receive rewards (Kinicki & Williams, 2011). These needs vary from person to person, as everybody has specific needs to be satisfied. When we consider factors that determine the motivation of employees, many of us think of a high salary. This answer is correct for the reason that some employees will be motivated by money, but mostly wrong for the reason that it does not satisfy other needs to a lasting degree (Bizhelp24, 2010). This supports the idea that human

Job satisfaction can be found in all jobs given the factors of wage, environment, and reward. Choosing a high paying jobs means sacrificing personal interest to most people and immersing themselves in an environment in which they would be forced to deal with working day to day with disinterest and mental taxation. All these disadvantages may put off most people when considering a job, yet when considering the long term rewards that such stressful jobs give, it can be seen that the job is worth taking. High paying jobs offer not only a sense of security, but the freedom to live any way anyone would

The article, “Better Pay and Benefits Loom Large in Job Satisfaction”, by Stephen Miller seeks to address how recognition and benefits affects the way employees determine their job satisfaction. The research problem being addressed is whether companies are able to retain the top talent employee and how the “compensation package” affects their decision to work at the company.

In most organisation, money is often seen as a prime motivator for employee in the government and corporate sectors. It empowers them to perform better and contribute to the organisation objective goals and productivity, however, following the shifting of economic conditions and social values, people's desire is dramatically changing. Most employee may feel that they are affected by internal and external

Money is not the only and best motivator at work. There is an abundant proof that money may not be one of the best techniques to motivate people. Indeed, it may be one of the worst techniques for motivation. The most successful managers stated that their basic motivation has been built for something enduring not just to make money.

Some popular theories claim that the amount a person is paid determines how well that person produces and performs. However, new research suggests that there are more variables at play pertaining to peak performance and link an employee’s happiness to his or her productivity and a company’s success.

Firstly, according to the needs theories, “behavior as being directed toward the satisfaction of human needs” (p.166). Salary is one of the employees’ needs, but not all of the needs. As Maslow 's Hierarchy of Needs (1943) stated, people has different kinds of needs which motivate human behavior, such as physiological needs, safety needs, love needs, esteem needs and self-actualization. High payment could satisfy the physiological needs, but when an employee is satisfy with his/her salary, he/she will pursue other levels need, such as

An organisation’s output is highly dependent on its workforce’s skills, experience, and level of motivation. In order to attract and retain highly skilled workers, organisations have traditionally used higher wages. This practice is supported by the Efficiency Wage Theory, which argues that firms have high chances of benefiting if they pay their personnel wages above the equilibrium wage in the labour market (Mankiw 2014, p. 425). But in order to continue to motivate their employees, most organisations implement reward programs such as pay for performance – merit pay – in the hope that their workforce will feel appreciated to continue exerting effort in their work (Hellriegel & Slocum 2008, p. 175). By motivating their employees, organisations forego the cost associated with job loss, they maintain their competitive advantage, and create a high performance culture.

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.

People just don’t work for money; there are other substantial reasons for working such as self-worth, self-esteem, acquaintance, to satisfy ambition, for a sense of achievement, independent, being productive and so on. These could be the factors that drive people to work in everyday life. This differs between people based on their personal circumstance, age, educational background, gender and social status. There are various research conducted which studied the work and why people work and found that money is not the only motivation for working, although it plays an important part in work motivation (Bass). Benefits like health care, extra holidays, flexible working arrangements and higher ranking job drives people to work.

pay per time period that he works (e.g. £5 per hour, £50 per day, £400