Over the last two hundred years, management has changed and along with it have the motivators within the workplace. It is vital that managers are able to motivate employees to perform at maximum productivity and due to the importance of motivation, several theories have been developed to ensure this. While some theories have been around longer than others, the information found within them can still help managers motivate staff today with some being more effective than others. The principal agent theory as stated by Frey B (2002, p. 60) questions “How can mangers, as representatives of the organisation, best ensure their subordinates do what is best for the organisation”. Managers must then be able to provide their employees with an …show more content…
“The materialistic type represents the classic view of man of... “Pay for performance”” (North, K, Gueldenberg, S 2011, p. 56). These types of workers will only increase their productivity consistent with an increase in money. There are several ways in which managers are able to motivate these types of workers, the most common being performance related variable wages, along with this, managers can choose to motivate their staff through a whole variety of stock option plans. Performance related variable wages work by splitting an employee’s annual income into two portions, fixed and variable. The variable portion acts as a motivator which helps employees achieve personal objectives set to them via the company / supervisor, and only if these objectives are achieved is the employee paid his salary in full. There is no doubt that for income maximisers and status seekers that remuneration is a real motivator. Income maximisers upon achieving their targets are then given the funds which enable them to purchase those goods and services which they desire, and are thus motivated to reach their set objectives. While status seekers focus their interests away from materialistic items and more towards ““assets of position” such as power, title, official designation and company cars” (North, Gueldenberg 2011, p. 57) the exclusivity of such items makes these items so desired
Employee motivation is, or at least must be, one of the key issues for directors, managers and personnel managers. The leader must be able to find the sensitive strings of his subordinates, which can be motivated by influencing them to achieve high performance. The correct use of motivation encourages staff to make more efficient use of their knowledge, skills, and talents. In today's turbulent, often chaotic environment, commercial success depends on the employee's talent and effort. Despite the many existing theories and practices, some of the motivation of leaders today remains a mystical term. This is partly due to the fact that people are motivated by different things and techniques.
Motivation is derived from an internal force that provides an individual the opportunity to achieve their needs or goals. People are motivated by a variety of things and often have different motivating factors. Employers should be mindful of individual motivating factors when attempting to motivate staff to increase performance. While some people may be motivated by money, many are motivated by things like: recognition, promotion, and increased responsibility. Once an employer has identified motivating factors they are able to analyze a variety of motivational theories to design and implement a program that will motivate employees to go above and beyond what is expected of them.
Motivation is a key aspect in the organization or workplace, and it is imperative to know the basic theory application and methods dealing with any problems that usually unavoidable for the employee and will come up in any work environment. This is a mandatory skills for a leader or future manager to know how important on how to motivate his or her employee to work more efficient. Motivating employees is a big dilemma for managers. To produce a higher level of performance and productivity, manager’s today are obliged to pay more attention on this matter. Every employee needs different types of motivation. In this paper will elaborate three motivational methods that a
In this report we will be discussing Motivation and how it has a large impact on the way employees perform within the workplace. We will be addressing the many benefits of having an adequate amount of motivation within the organization and the employees in it. How motivation within the workplace affects the company productivity will also be mentioned within this report. As an example of a company that has been succeeding taking motivation as a large factor leading to company success, we will be discussing how CIBC has been implementing the motivation strategy within their organization to bring forth success.
There are as many different methods of motivating employees today as there are companies operating in the global business environment. Still, some strategies are prevalent across all organizations striving to improve employee motivation. The best employee motivation efforts will focus on what the employees deem to be important. It may be that employees within the same department of the same organization will have different motivators. Many organizations today find that flexibility in job design and reward systems has resulted in employees ' increased longevity with the company, improved productivity, and better morale.
Management has changed significantly over the past 50 years. The role of leaders in an organization is an ever changing thing. At one point, a manager was also the owner of the company, and thus used a carrot and a stick to get his employees to work, just like a parent personally invested in the raising of their child. Not anymore. Nowadays, leaders are there to “serve” their employees. The focus is on motivating the individual, achieving organizational goals by integrating each and every individual into the system. We no longer rely on a one size fits all approach, and management theory is no longer focused on having a winning philosophy, or motivating large groups.
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
Motivation in the workplace is one of the major concerns that managers face when trying to encourage their employees to work harder and do what is expected of them on a day-to-day basis. According to Organizational Behavior by John R. Schermerhorn, James G. Hunt and Richard N. Osborn the definition of motivation is "the individual forces that account for the direction, level, and persistence of a person's effort expended at work." They go on to say that "motivation is a key concern in firms across the globe." Through the years there have been several theories as to what motivates employees to do their best at work. In order to better understand these theories we will apply them to a fictitious organization that has the following
Motivating workers can be one of the most challenging for management. Management should ask their workers what motivates them the most. If management has a hard time deciding the staff’s motivators, then he/she should ask them what would make them more eager and thrilled about doing their job. If the individual appears to be uncertain or undecided, then management should recommend different types of motivators. While they are making these recommendations, they should also listen and observe the employee’s reactions and responses. For the most part, employees want strong and well- defined goals, objectives, and expectations that are jointly understood and decided upon. They want a strong boss who is a great leader and he/she can lead and guide their actions. Also, they want respect and fair treatment. Staff that are motivated want to have opportunities to grow within the organization, to have power and say-so about their work, participate in decision-making, and to have a role or be a part of a triumphant team.
The purpose of this essay is to highlight the use of management theories in relation to productivity and job satisfaction. This essay shall discuss how leaders can motivate employees in order to improve the overall productivity and job satisfaction. I will be looking at theories in relation to how they are categorised, also how different management theories can be implemented by a leader. The essay will analyse both the intrinsic and extrinsic factors that are relative to applicable management theories and from the analysis there will be a justification of methods the writer believes to be the most suitable for the leadership and motivation of
In today’s competitive workforce, compensation and benefit packages plays a crucial role on recruitment and retention for both the organization and the employee. Bumpbie finds itself in a situation where it could positively affect its employee’s morale, turnover rate and longevity; by making a strategic decision to implement compensation and benefit packages that will encourage current workers to stay and entice new applicants. Money is not always the inherent reason businesses experience high turnover rate, the constant shifting in the job market will always be a contributing factor as well as employee’s moral. Mayhew, R. (2016), explains that an “employee compensation plan” refers to all the components offered as well as the way in which they are paid, and the reason behind the employees getting the compensation case bonuses, salary increases and incentives. The fact that there are voluntary and mandatory benefits that organization provides to their employees give employees the freedom of choice, as well as the option to make the whether to stay with or leave an organization based on the benefits it provides. Variable Pay is also an option that some employers offer their employee which is performance based or results oriented. Whether it is profit sharing, merit based programs or incentive bonuses; it all comes down to which organization can provide employees with the compensation or benefits packages that best satisfy their needs.
Keeping employees motivated in addition to creating incentives and/or additional ways for employees to receive more compensation will create better performance overall within an organization. Contrary if company B gives their employees incentives to perform, without any motivational tactics they probably will not have as many top performances as company A, in addition the company may only seek short term rewards verses have long term success. Lack of motivation for employees within an organization, can cause long term damage for the company’s success. Different things motivate everyone; therefore there should be a system in place to keep employees motivated for the long term success of the company. In the MBM textbook under the concept of incentives, compensation, and motivation, there are a couple of different views of how it should be applied within an organization. We will discuss The Social Role of Profit, Personal Profit and Losses, and the way Market-Based Management view how incentives, compensation, and motivation should be applied and the things that effectively drive employees’ actions while at work.
Over the past few decades, managers have realized that the motivational capacity of most organizations has a significant impact on the productivity and on the profitability of a firm. Much of the old paradigms regarding management theories have focused extensively on a single way of developing worker productivity and motivation in the firm through the
Industrial/Organizational (I/O) Psychology is devoted to the study of employee behavior in the workplace and understanding the issues facing organizations and employees in today’s complex and ever changing environment. Motivation refers to the set of forces that influence people to choose various behaviors among several alternatives available to them. An organization depends on the ability of management to provide a positive, fostering and motivating environment for its employees in order to increase profits, productivity and lower turnover rates of its employees. The purpose of this paper is to discuss and compare six academic journal articles and explore the behavior, job, and need based theories of motivation that can aid management in motivating and understanding their employees. Finding that delicate balance to can sometimes be elusive so effectively learning how to motivate by understanding, controlling and influencing factors to manipulate behavior and choices that are available to employees can produce the desired outcome.
One of the first authors that dealt with the sources of motivation was Frederick Taylor who focussed on the overall productivity of an organisation. He linked this productivity to the effort an employee puts into their work which in turn is dependent on monetary rewards (Taylor, 1911). This theory was established in the context of the industrial age and thus is outdated for today’s analysis but it still provides a basic assumption which is often referred to by other authors. The total neglecting of a worker’s intrinsic motivators is a starting point for discussion for authors that conducted research in that area after Taylor.