Theory X and Y

“Incentives are the cornerstone of modern life”(Levitt and Dubner 12). Levitt and Dubner once mentioned in their book “Freakonomics”. According to Oxford dictionary, incentives are something tends to incite to action or greater effort, as a reward offered for increased productivity (“incentives”). In business field, incentives are something given by bosses to encourage their employees to endeavour in bringing benefits to their business. For a simple example, the employee who hits the monthly or year sales target will get cash or prizes as incentives. Apparently, these incentives are something that motivates employees maintains their great performance and also to motivate other employee, whoever wants to get the incentives, work harder.

Good performance is rewarded through timely job promotions, special recognition and in some cases monetary rewards and incentives.

➢ The need to discipline employees is reduced because employee job performance meets customer expectations more often. This creates a more pleasant work environment for managers and their employees.

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

For example after seeing the film pertaining to White Castle it is evident that both types of approaches utilized together makes an organization more effective and enables it to be run more efficiently. While having a “one” best way to get a task done, a manager should also understand their employees and their state of mind. Even though a manager might have a plan on how to execute a task, it is necessary that the manager understand an employee’s ability to carry through that task. After Ingram the CEO of White Castle met with his employees and saw some of their concerns, he was better able to understand his role as a manager and also what his company needed in order to not only better itself, but also to make his employees more happy and comfortable. In a segment of the video, it is shown that one of the supervisor was afraid of messing up because of constantly being watched by camera, Ingram saw that and he stated he would seek a way to make his employers more

By offering employees an increase based on good work performance or by completing jobs on a timely basis employees are motivated to do the best they can for the company. Employees will strive to do the best they can and excel at their job. The company also benefits by being able to set up guidelines of what is expected and by rewarding employees they will have employees that are accomplishing more and have a better attitude about their job. Long term by giving employees increases employees will be apt to stay with the company and this benefits the company in not having a high turn-over

The main purpose of reward within a performance management system are to retain, motivate employees and reduce turnover.

advantages of a total rewards program outlined in Chapter 2 of the textbook and discuss

On the other hand, here comes to the theory Y. On the contrary, it based on positive assumptions, and also more positive view of workers and the possibilities that create. For instance, they assumed that employees are ambitious, self-motivated and anxious to accept greater responsibility. Employees exercise self-control, self-direction, autonomy and empowerment, also exercise creativity and become forward looking. So, once the managers are adopted this theory, they believes that people want to do well at work, have a pool of unused creativity and that the satisfaction of doing a job

The rewards offered can be extrinsic such as wages, incentives and bonuses, or intrinsic such as job satisfaction, an internal feeling of worth and a sense of well being on the job.

Management has experienced remarkable shifts in the way that organizations conduct business particularly in the last century, due to the evolving workplace as well as tremendous changes in the roles of leaders in organizations. Early managers often relied on authoritative tactics to get the job done, which we have learned from history does not work very well for many modern organizations. In this paper, I will be analyzing the management approach my organization takes and whether this is the best approach to meet organizational goals and whether or not my organization may benefit from adopting a different approach or combining multiple approaches.

What intrinsic and extrinsic rewards could management provide to motivate and increase productivity in ES employees?

According to the survey (Chapman, 2002), my situation falls into a score of 45, which means that I am subject to generally Theory Y management. According to the second part of the same survey, I scored a 69, meaning that I strongly prefer Theory Y style management.

To motivate employees to work towards reaching organizational goals, managers frequently depend on some form of enticement. Beyond monetary compensation, awards and additional types of acknowledgment can be given, and the ability to choose a work schedule is a possibility. A reasonable pay system, which would be an incentive for individuals and groups to achieve organizational goals, is a hardship manager’s face (Jones & George, 2011). Within the company that I work for, every quarter awards are presented to Customer Service Agents who have maintained a 95 percent or above quality score. Monetary awards are given out as well as time off coupons.

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