Money is not the only Motivating Factor Introduction The aim of this academic research assignment is to look into the area of why I believe Money is not the only motivating factor in our current working society these days. We live in a day & age where people are no longer just interested in being able to earn for a living, although it does enable us to fulfill the basic necessities of our daily lives, like paying for our bills, our transport expenses, etc. However, more than just that, people are now looking for more in their jobs. Nowadays, people don’t want just a good salary, or a good payment package from their employers, they are also looking for greater meaning & purpose in what they are doing. It takes a combination …show more content…
At this level, it’s already way beyond just their need for survival. Research has shown that only 29 per cent of Australian public service employees say they feel valued for their contributions to their work (McShane, 2010, Organisational Behavior on the Pacific Rim, p. 174). Comparing the Levels of Needs Let’s take some time to look at the 5 needs we have mentioned above, and compare them. It is true that every human being is naturally wired with the same need for survival. Food, water, a place to live in, all these are a part of what we have come to term as “Basic Necessities”. Let’s take a look at 2 different scenarios: (a) An employee that is struggling with financial debts. If an employee is struggling financially in his life at the point where he has a job, its natural that he’s first priority is for his survival. The ability to acquire income so that he can pay for his food, his transport, or even his rent. The fear of not having enough money to eat, or to take public transport, or even having to stay on the streets is what keeps that individual motivated to keep his job & do well. (b) An employee that has been working for 1-2 years in a company & has a stable salary. If we look at another employee who has already been working for a couple of years, and is no longer struggling financially, then perhaps the employee will not need to worry about his basic necessities that much.
Americans that are living pay check by pay are struggling to pay their bills every month, of these, most of them earn only minimum wage which is “$ 7 .25” Epstein, R, & Bedford, K. (2014) , p,3. Working full time, 40 hours a week and 52 week a year. The average Americans that are working minimum wage jobs are providing for families on a full time salary which is not enough to pay for the hose hold bills and proved for every day necessities; this forces them to find a second job. In 1996 the number of people holding two or more jobs averaged Barabara Ehrenreich (2011) “7.8 million or 6.2 percent in the workforce” (p.45). According to Michelle Conlin a senior writer and editor of the Working Life Department and Aaron Bemstein a senior writer on Workplace and social issues, 63% of United States families below the federal poverty line have one or more job. More than a “third are 18-25- year old” Conlin, M., & Bemstein, A. (2007), p, 2, who are trying to work their way up the ladder with little to no help. In today’s society more than “28 million people” Conlin, M., & Bemstein, A, (2007), p, 2, which is about a quarter of the workforce between the ages of “18 and 64, earn less than $9.04 an hour” Conlin, M., & Bemstein,A. (2007), p, 2. This is well below what most American’s would consider a decent stander of living. The increase in the cost of living means parents earning the national minimum wage struggle to support families. Raising the rent for apartment and houses are
First reason, raising the minimum wage would help many employees out of poverty . For
Another issue that shows the minimum wage has to be raised is the lack of motivation for middle-class. The first problem these families face is the inability to provide basic living facilities that include housing, spending, and other human needs such as health insurance, and so on. Manet noticed that "Dupont lived with her mother,(‘I try to live within my means, but sometimes you just can't.) the Houston, Texas, resident told a reporter last March. Dupont said she had no health insurance, was behind on her car payments and had taken
One of the primary reasons that raising minimum pay sustenance poor people. This increased will improved living standers, according to Williams (2015), a later examination by CNN was significantly
A class assignment on the cost of living showed me that if I were to take a minimum wage job right out of high school, I would be living barely above the poverty line. I’m fortunate that I’ve never had to worry about basic needs, however, if I were suddenly on my own, I would need two jobs to afford food and a place to live in my area. This exercise made me realize the incredible difficulties many people face just to subsist. For me, it translates into this fundamental problem: If a person working full-time cannot earn enough to provide food and shelter for themselves, the system is failing them.
To many people lack the vision of opportunity if a paycheck isn't attached to it.
In the article “Hardworking Americans should not be living in poverty” stress is a major part of low income employment. Worrying about how bills will be paid or where the next meal
There are some low-wage workers who are unable to find employment.Even if they have a higher education, it does not always secure
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).
At the present time, the current minimum wage is not prominent enough to allow employees to afford their basic everyday essentials. According to an anonymous advocate for raising the minimum wage, "66% of US workers earning less than $10 an hour report that they 'just meet' or 'don't even have enough to meet' their basic living expenses"' ("Website: Minimum Wage – ProCon" 36) One can infer from this piece of evidence, that a whopping more than half of the US employees suffer from the poor earning in jobs. This disregard for worker's life necessities is
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
There are very many factors that motivate employees to do outstanding work in their jobs. Though most of them are non-monetary factors like participative decision making, work teams, challenging jobs, goals in life or in the company, power and other factors. Most of the employees that emerge in their workplace, either in a small cubicle or a mega office have got some drive that enable them to perform in their work, but the key question is, is money is the key motivation in their workplace? In this essay both sides will be argued in order to find the answer to this (Robbins, Odendaal & Roodt, 2003).
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