The Best Way to Increase Work Motivation for an Organisation Is Through Financial Rewards. Discuss.

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Introduction The purpose of this essay is to distinctively identify the effects of financial rewards on the work motivation of an organization and also whether or not this system of reward can cause an increase in the levels of work motivation already present in the organization. It furthermore aims to discuss weather Financial Rewards are the best way to increase the work motivation present. Although the essay shall primary be focused on Financial Rewards and Work Motivation, other factors that may have an effect on work motivation shall be discussed. For this purpose the understanding of work motivation shall be taken as such: The factors that are internal and external to employees that determine when he or she works, how hard he…show more content…
. (Zani, Rahim, Junos, Samanol, Ahmad, Merican, Saad and Ahmad, 2011, pp.328-329) Since money is the basis or foundation of financial rewards and most Reward Systems the value of money against work motivation can be directly quoted as follows: “Money is not everything, Many would be happy with more time off, or more job security, than more money. People are prepared to trade off things for money once they have enough or grow weary of the game.”(Furnham, 2006, p.26-27) Furthermore several studies that have been carried out regarding the relative importance of pay or money have shown that money or pay ranks below factors such as job satisfaction, recognition, good people to work with etc., But the tendency of people to rate the things and factors which are regarded as more socially acceptable or less socially acceptable higher or lower respectively, the results of such studies could have varied or misleading results (Armstrong, 2010, p.143-144). In

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