• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month
Page
  1. 1
    1
  2. 2
    2
  3. 3
    3
  4. 4
    4
  5. 5
    5
  6. 6
    6
  7. 7
    7
  8. 8
    8
  9. 9
    9
  10. 10
    10
  11. 11
    11
  12. 12
    12
  13. 13
    13

METHODS FOR MOTIVATING EMPLOYEES

Extracts from this document...

Introduction

1. MOTIVATING EMPLOYEES 1.1. Introduction Motivation is one of the key factors to our company. How the employees feel, generally and specifically, about their jobs directly affect the company's "bottom- line" profit. Motivation is the motive force that moves employees to perform at their best. Just as a locomotive pulls a train, so a company's workforce will pull a company to profit or ruin. Motivating employees can be a complicated task based on total compensation for the work performed for a company. Compensation, as it is used in this context, is not strictly for explaining the total financial package to pay an employee. The purpose of this report is to discuss some of the possibilities in motivating employees to be productive in the workplace. The areas to be discussed are Financial Motivation and Non-Financial Motivation. Both are powerful forces in determining the drive, productivity, and effectiveness of every company employee. 2. Financial Motivation Managers find many ways to motivate their employees, so they desire to perform to the best of their abilities. Financial rewards and incentives are common in the business world today; although, most experts agree money is not the best motivator because the motivational effect of most financial rewards does not last. According to Donna Deeprose (1994), "For one thing, while the presence of money may not be a very good motivator, the absence of it is a strong de-motivator". Therefore, financial rewards are an absolutely necessary base to successfully motivate a company's workers. The most common types of financial rewards that will be discussed in this paper are salary increases, profit sharing, incentive travel, and paid time-off. 2.1. Salary increases As has been mentioned, the absence of salary increases or bonuses can be a strong de- motivator, primarily because people use money as a scorecard to measure their achievement. Money is also an indicator to the person of how important he or she is perceived to be within the organization. ...read more.

Middle

task fits into the larger scheme and profit of a company will feel a sense of belonging and importance because they understand the ultimate end and importance of performing that task "(Weinstein, 2002). "Setting goals is a good way to define an employee's purpose in a company and helps to set a standard for them to gauge their success. Managers can then focus on the success of the individual by illustrating his or her performance in comparison to the goal, either with public or private recognition. In this way, the organization develops an atmosphere of attainment against measurable objectives and becomes energized with each win" (Nelson, 1997). The process of defining the roles and objectives of the staff brings an invaluable opportunity for sharing communication between the employee and management. 3.3. Communication The flow of information in a company can be a powerful tool in motivating its workforce. Communication of clearly stated goals and paths to achievement is the best way to begin developing employee talent. Registering and acting on the communication of employees also gives a powerful message about their value to the company and management. Employees want their company and team to succeed; and when management uses the input to help them be productive, a sense of empowerment and ownership of the process develops. The open communication also gives a measure of control over their work environment and allows for the improvement of each individual working situation. The reward employees receive for communicating is not always what managers might view as an award. As Matejka (1991) says, "Giving an employee something pleasant is not the only way to reward. You are also rewarding (making life more pleasant) when you take something away that the employee dislikes." Enhancing the work life, thereby compensating the employee for the communication, is a way to build rapport and loyalty. When the work environment is pleasant, the employee's satisfaction and motivation increase. ...read more.

Conclusion

These types of rewards lead to employee empowerment. Goal setting, communication, autonomy, responsibility, and flexibility are considered non- financial motivational rewards. Goal setting gives employees opportunities to be involved in the decision-making aspects of a company. Working autonomously with responsibility and flexibility also empower employees to perform at their highest level of expertise. Financial and non-financial motivational techniques can be used effectively together to maximize employee performance and company profits. Motivated employees are the backbone of any profitable company, and sometimes motivation is the sole reason for profitability as illustrated by McCormick and Company. When coupled together as a complete compensation package, financial and non- financial rewards can be used to retain employees and enhance productivity. The caution for managers is to be aware that although staff may appear to be well motivated, if they are running on coping strategies a larger problem is developing. Therefore managers should not be complacent, but should investigate whether this is happening with their staff and take remedial action now. We have every reason to believe that well motivated production staffs are willing to deliver high work outcomes. There is no need to live with a disappointing performance. Glossary * Skill Variety. The degree to which a job requires a variety of different activities in carrying out the work, which involve the use of a number of skills and talents of the employee. * Autonomy. The degree to which the job provides substantial freedom, independence and discretion to the employee in scheduling his or her work and in determining the procedures to be used in carrying it out. * Job Security. The degree to which the employee feels secure in the organisation. * Productivity. Is the measurement of the efficiency with which a firm turns production inputs in to out puts? * Motivation. The will to work due to the enjoyment of the work itself. If you do a good job it is because you want to do a god job. * Peers. Some one whose views on work place behaviour and attitudes may be highly influential. ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our GCSE People in Business section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related GCSE People in Business essays

  1. "Managers should do everything they can to enhance job satisfaction of their employees? Do ...

    The satisfaction-performance relationship at the organizational level may be stronger than the relationship at individual level. Some of argued that commitment may result in high performance and may decrease turnover. Yankelovich (1979/1983) concluded that one major factor contributing to slow productivity in the United States is worker's attitudes.

  2. Report: Type of ownership of J-Sainsbury

    responding quickly to complaints, organising meetings, photocopying documents, providing security systems and staff for the business, providing cleaning and maintenance staff for the business. As you can see j-Sainsbury's administration department has a lot of duties to do. Dealing with post and emails correctly and quickly is important for J-Sainsbury's

  1. Business at Work - ASDA

    A DETAILED ANALYSIS OF THE IMPACT OF ICT ON INTERNAL AND EXTERNAL COMMUNICATIONS OF THE BUSINESS This area has previously been covered in conjunction with E6 (The use and impact of ICT for internal and external communications of the business).

  2. This is a report on Marks and Spencer a well known retail company in ...

    The external sources of communication which Marks and Spencer's comes across within the firm through mainly stakeholders, customers, suppliers etc are: E-mail, Business to customers, Mail, Letters, Advertising, Meetings, Fax, Arranging conferences, the Internet and the Websites of all leading brokers.

  1. Investigate about the important roles that management plays in achieving my chosen organisation aims ...

    proven to be beneficial to Tescos, To retain and attract costumers and workers, all the outlets of Tescos are safe and healthy because the managers comply by the different regulations like Health and Safety at Workplace Act 1974, RIDDOR, etc which stipulate that the management have to provide a safe and healthy working environment to anyone setting foot there.

  2. This report is an attempt to investigate Hewlett Packard, a huge corporate, to gain ...

    This was proving to be a major disadvantage in an era of fast-growing business. The company had 83 different product divisions and was more bureaucratic. Executives left HP because they had to spend most of their time managing internal bureaucracy.

  1. Customer service within the travel and tourism industry

    Within this interview, is a description of importance of customer service, the potential of customer service, and effectiveness of customer service: Importance of Customer service for Thistle Hotels What is the importance of customer service? Customer service is of primary importance because through good customer service, our organisation is able

  2. Gulf States Metals Inc. (GSM)

    Another issue from the human resources frame is that the physical work environment is unpleasant, with machines that are old and corrdoed, chemical smells and a lack of protection from the weather. Significantly, safety appears not be a priority, as many staff do not wear goggles, even though they are required to do so.

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work