Why Should A Firm Seek Help Motivate And Satisfy It Employees?

1289 Words Aug 15th, 2014 6 Pages
As a response to the economic recession of 2009, many companies have been forced to tighten their belts and re-energize focus on areas of their businesses that derive their competitive advantage. While cost cutting and streamlined production would likely play a part of the competitive strategy, organizations may also choose to look inwards towards internal resources as an area to exploit in the pursuit of business survival (Porter, 1999). As Watson noted “motivated and satisfied workforce’s can deliver powerfully to the bottom line”, where as in the case of Xerox in the late 80’s saw that a company focus on increased employee motivation and satisfaction correlated directly with the overall business effectiveness (Watson, 1994, p. 4).

Increasingly businesses are recognizing the importance of motivated workforces, thus the issue becomes a question of how should a firm seek to motivate and satisfy it employees? Conventional wisdom may tell us that the answer to this question is money, however, what numerous theories and frameworks have demonstrated over time is that motivation is not merely as simple as money. Motivation involves a far more complex set of drivers both internal and external to encourage employees (Buchanan & Huczynski, 2013). This paper will seek to critically examine three main theoretical perspectives on motivation that guide much of the contemporary people management programs in place across many of the world’s most successful companies. Firstly, an…
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