1 INTRODUCTION There are a few factors that determine an individual’s well-being as essential as income. Income is paramount to live a sufficient lifestyle for self and those who are dependent on us. Income is a stable aspect of job to the workers, organizations and the society in general. Income has huge role to play in determining the behaviors, attitude and perceptions of individuals in an organization and this can be a major driver of organization behavior. Using utility theory, in particular the concepts of marginal utility and marginal rate of substitution the author analyzes how the job satisfaction and wages of family employees differ from those of regular employees. The objective is to infer that the family employees have more job satisfaction than regular employees while receiving lower wages. Income can cause both positive and negative affect work and family balance. The effects of income has not been widely discussed as one of the major contributor to organizational behavior topic and instead topics such as monetary incentives and pay-for-performance schemes have been documented exhaustively. Finally, some (e.g. Lea & Webley, 2006) have argued that the psychology of money is a visceral one, exhibiting similarities to the effects of other visceral influences on human behavior such as hunger and thirst and, as Loewenstein (1996) notes, visceral influences are often underestimated by individuals, partly because people tend to forget how important they were in
In the case study titled Walt Henderson, Walt Henderson works for a drafting company along side thirty other technicians that are supervised by two inspectors. Walt is demonstrating issues of a negative or unfavorable attitude at work. According to this class’s textbook “Attitudes are evaluative statements – either favorable or unfavorable – about objects, people, or events” (Robbins, and Judge 66). The study at hand, shows that Walt is a hard working individual that at times takes his work home to ensure projects are completed on time. In doing so, he finishes work quickly at the job and proceeds to work on personal matters in the office. Walt believes that because he completes his work early by using his personal off time that he has the right to work on personal matters in the work place. Doing personal work at the work place violates some of the rules of the work place and has been instructed to him by his supervision on the matter in the past. This paper will answer a few questions that are: What is Walt Henderson’s attitude toward work? What are the main components of Walt Henderson’s attitude toward work? If Walt Henderson becomes dissatisfied in his work, what is he likely to do about it: exit the organization, voice his dissatisfaction, remain loyal, or neglect his work? And lastly, what can Walt Henderson’s supervisor do to ensure Walt’s job satisfaction without endangering
The challenges of an organization can influence the performance of an organization from a satisfaction with pay (Gomez-Mejia, Balkin, & Cardy, 2016, p. 296). The employee salary within an organization is a huge cause for turnover of employees (p. 296). First, the topic of employee salary is of great importance for the current and potential workforce (Lee & Lin, 2014, p. 1577). In addition, employees that have the perception on receiving lower compensation that others within their market will lack in performance and have a desire to leave the organization (p. 1577). In retrospect, the regular evaluation of compensation within the organization is vital to the reduction of employee turnover (p. 1577).
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
The financial or economic interest is an important motivating factor for employees; however, when the gap in salaries is high, it could result in dissatisfaction and affect the business economically.
Comcast is known as the top cable TV provider in the nation with the fastest internet speeds along. Even though Comcast has many great achievement and awards there were still business issues that had existed in the organization. In the past Comcast did receive some bad publicity in regards to their customer service as it impacted the customer experience. Every great company has went through many obstacles but it is all about how the organization overcomes those obstacles. The key towards success was not built over night but over time for a successful future. "Good introductory paragraph
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
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).
Cases revolving income inequality happen all over the world and is very important to reduce or eliminate this problem. The articles discussed in class describe a number of income inequalities such as the articles revolving around the compensation of CEO’s and other wealthy individuals compared to the average employees and managers. Economic inequality should be looked upon as a large problem that needs to be solved. If countries, businesses, and certain individuals reduce the amount of money they make by donating or taking a pay cut, the benefits for society could greatly increases. These actions could also increase the aggregate welfare for the population below high class individuals. For this reason the three articles that will be discussed in this paper are unjust from my point of view. Finally I will be tackling an objection that could be made about the unjust
The challenges of an organization can influence the performance of an organization from a satisfaction with pay (Gomez-Mejia, Balkin, & Cardy, 2016, p. 296). The employee salary within an organization is a huge cause for turnover of employees (p. 296). First, the topic of employee salary is of great importance for the current and potential workforce (Lee & Lin, 2014, p. 1577). In addition, employees that have the perception on receiving lower compensation that others within their market will lack in performance and have a desire to leave the organization (p. 1577). In retrospect, the regular evaluation of compensation within the organization is vital to the reduction of employee turnover (p. 1577).
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
This chapter discusses the concept of job satisfaction, human resource management, human resource practices, human resource planning, recruitment and selection, training and development, performance appraisal, compensation, employee relation, safety and health issues relating job satisfaction. The literature review is conducted in a systematic manner to unfold the disciplines of human resource management and job satisfaction.
Job satisfaction is a highly complex mixture of individual perceptions and individual rewards. Job dissatisfaction often leads to employee turnover which is costly financially, frustrating to unit managers, and also detrimental in regard to patient care and outcomes. Maintaining registered nurse (RN) job satisfaction is directly related to staffing levels (Kalisch & Hee Lee, 2014). Teamwork and collaboration between all medical staff members can increase job satisfaction and provide better outcomes in patient care. Absence of teamwork and communication can result from cultural and rank barriers (McCulloch, Rathbone, & Catchpole, 2011). Several studies have been performed to measure job satisfaction in nursing staff, but the aim of this study examines the links between actual unit-level staffing and job satisfaction of RNs and nursing assistants (NAs) (Kalisch & Hee Lee, 2014) in order to identify factors that lead to employee turnover. The first question the researchers were interested in states, “What is the relationship between staffing and job satisfaction of RNs and NAs controlling for demographic variables and patient acuity?” The second research question states, “Are there any differences as to the significant predictors for job satisfaction between RNs and NAs?” The RNs and NAs were surveyed using a questionnaire to rate job satisfaction while also providing demographic data. The researchers used 131 patient care units in 11 different hospitals based in Michigan and
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
According to the annual list of 500 major leading companies has ranked by Fortune 500 Apple lies 5th in its list. Apple is amongst the most valuable and highly money-making companies in the world with its revolutionary iPhone. It is able to gain remarkable success by the ability to create innovative products. Certainly, it is able to gain such huge success due to its products but not only that, there are other factors that plays role such as distinct leading faces of Steve Job and currently Tim Cook along with different strategies applied to motivate its employees and make the company what it is today.
It is difficult to satisfy individual demands because everyone would move to the next more advanced platform of the hierarchical pyramid that Maslow created frequently once the prior need is met, especially in modern society. Meanwhile, when setting Maslow’s model into the business to understand the motivation behind employees’ behaviours, it is not amazing to find that there are also have similar five levels of needs which including wages, safety, social belongingness, self-esteem and finally self-actualization. Maslow and Stephens (2000) have posited out that individuals will not spend an inordinate amount of time to think about their salaries if they are fairly paid. After being paid adequate salary, employee seeks safety physically and mentally on the jobs. And then the stage of needs moves to the third level subsequently-seeking social