Management Issues: Literature Review and Report

As a manager the three motivational methods that should be used would be to provide monetary incentives, employee recognition, and training incentives. Monetary incentives are one method that can be used by a leader or a manager in his or her workplace, these incentives is to reward an employee for his or her outrageous work-related performance. These incentives may include such as profit-sharing within the company, stock options, performance bonuses, and scheduled bonuses. These different types of monetary incentives can increase the motivation of its workers and can lead to more productive, less absenteeism, and may improve one’s quality of service. Monetary incentives when awarded to one employee may also be a morale booster can also encourage other workers to improve his or her work performance, and maintain a healthy, friendly, positive work environment. A healthy workplace is a product of a successful and productive work environment. Working in this kind of economy, monetary incentives is the excellent method to use. However, these incentives may persuade others and may not to some; the result will be the same, increased quality work

Motivation provides individuals the drive to behave and act in a certain way in order to influence their work environments (Robbins & Judge, 2014, pp. 35-36). When employees are able to influence their work environments, they can make a psychological identity with their organization that provides a sense of purpose, or meaningfulness, to their existence in their job performance and involvement (Robbins & Judge, 2014, pp. 35-36). Thus, providing employees with a higher level of job satisfaction. To promote higher levels of job satisfaction, involvement and performance, managers will utilize motivational strategies to encourage their employees to perform certain tasks (McCoy, 2012, p. 2). However, managers are recognizing that traditional incentives are no longer providing the results of behavioral physics in their organization (McCoy, 2012, p. 3). To address this dilemma, managers are looking at motivational strategies where the incentives psychologically empower their employees in their daily activities.

In any workplace, workers are no doubt the essential mainstay that holds any business or corporation together. Employees achieve important tasks to help the company’s long term vision and goals to be successful and efficient. A business can’t be successful without a proper management that is why it is important for employees to enjoy going to work and they also have maintain a positive attitude while being productive and completing tasks. Motivation is what gives a person the purpose to perform or behave in a certain way with the desire or willingness to gain something. There are two types of motivations, motivation that comes from a person and motivation that comes from materially goals. It is very necessary that employers keep their employees motivated and encourage them to perform above expectations.

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.

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

This article examined the necessity of changes required to traditional reward systems in order for employees to remain motivated and productive in the workplace (Lawler & Worley, 2006).The changes that must occur are in response to shifting environmental demands, with reward systems and motivational tactics holding exceptional importance to the ongoing success and longevity to the organization. The article then emphasizes the ineffectiveness of traditional reward systems, such as merit pay. This is largely attributed to how merit pay salary increases are small and become a permanent part of an individual’s pay (Lawler & Worley, 2006). As a result, the relationship between pay and performance is weak and not particularly motivating. As a more effective alternative, companies should look to implement reward systems such as bonuses in the form of short-cycle business periods, as they have shown to be effective motivators as well as flexible enough to compensate for organizational changes. Lawler & Worley (2006) concluded that “traditional reward systems lead to lack lustre performance, and that in order to create a high performance organization, companies must employ different reward systems that motivate performance, reward change, and encourage the development of individual and organizational capabilities” (p.5).

Extrinsic motivation e.g. Money is the critical incentive to motivation in today's work environment However , motivation differs from individual to individual and with their respective beliefs and values, circumstances and culture. It is important for mangers to identify which motivation factor works with which employee and apply it respectively In any environment, both Intrinsic and Extrinsic motivations are needed for work satisfaction and work performance

Motivation is defined by Engleberg and Wynn (2013, p. 42) as giving an individual a cause or reason to act. When working in groups, motivation is an essential skill for unifying and persuading group members to achieve objectives and overcoming obstacles (Engleberg & Wynn, 2013). The Chief Executive Officer (CEO) of mGames, a gaming and mobile device developer, was motivated to act based on two categories of motivating factors (Engleberg & Wynn, 2013). Each of the categorical factors is associated with one of two reward employees for performance, extrinsic and intrinsic rewards (Engleberg & Wynn, 2013). Extrinsic rewards, influenced by the external environment factors such as a boss, usually result in monetary increases, fringe benefits, and special privileges (Engleberg & Wynn, 2013). Whereas intrinsic rewards are intangible, as they

People are motivated by different rewards and therefore, a manager must know each employee’s reason to why they are working at the organization (Ivancevich, Konopaske and Matteson, 2014). Even though there is no best theory of motivation as a manager you have to work even harder to try and understand all your personnel’s motivation (Ivancevich, Konopaske and Matteson, 2014). One aspect of the motivational construct is for certain, the best way to influence individual performance is to have a reward system (Ivancevich, Konopaske and Matteson, 2014). This reward system can also attract outside talent to come and work at the

A total rewards system is utilized to motivate, attract, and retain employees whom offer talents to an organization. Total rewards can be either intrinsic and extrinsic rewards, which can include compensation, benefits, and personal growth. It can be somewhat difficult to retain a steady and reliable staff due to the numerous opportunities that are available in today’s workforce and organizations must do all they can to keep their employees engaged and motivated. After companies assess, design, and execute their total rewards programs, the final and most overlooked phase is to evaluate its success, or failure. The evaluation phase shows management the benefits of their total reward system and if the investment has paid off or not. Employee productivity and job satisfaction are two methods which can be used for this purpose.

The motivational strategies developed by most companies refer to financial motivation, but also to other types of compensation and benefits that can stimulate employees' work improvements (McNamara, 2010). Such compensation and benefits usually refer to bonuses, paid vacations, public acknowledgement of results, paid subscriptions to health and fitness clubs, training programs intended to improve employees' skills, and others. There are numerous types of compensation and benefits that can be addressed, but the motivational strategy must develop

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.

Most organizations seek employees that are highly motivated. This helps employees be higher producers within the agency. Organizations expect their employees to do their best work to enhance company. My organization also focuses on motivating employees to be more productive. Managers have to be ready to motivation different types of people. However, most managers should be very diverse when it comes to motivating employees. Intrinsic and extrinsic rewards play a huge part in the success of an organization. As a manager, we have to be open to trying new theories that will increase the productivity of the organization. This paper is will give some insight on motivation and the roles it plays in my organization.

Financial compensation is an important factor to motivate employees and non financial rewards also make long term effects on the mind of the employee. So it is your (organisational) responsibility to ensure they using all the available resources to motivate them (Ulrich,2005).

Being rewarded and recognised for their work or contribution is what keeps an employee motivated to work towards achieving the organisational as well as personal goals. When the employees is motivated by rewards, they will have job satisfaction consequently increasing the productivity of the organisation. It necessitates the need of managers to pay more attention in understanding their employees and come up with suitable types of reward systems for the organisation so that the employees are intrinsically and extrinsically motivated all the time. The hypotheses that I put forward here is to support this statement that effective reward management is critical to