A discussion on whether financial rewards are enough to motivate workers.
Written in 2009; 2,282 words; 17 sources; APA; $ 70.95
Paper Summary:
This paper discusses how a range of financial rewards, as opposed to simply money, can provide safety and security, a high degree of satisfaction with the job as well as power and prestige. In this discussion, the paper refers to two models of human motivation; the content model and the process model, as well as the theories of Abraham Herzberg and Frederick Maslow. The paper also looks at how Tesco and Asda use only money (in the form of discounts, bonuses, and other incentives) as a motivating factor for their employees and highlights the weaknesses in this approach. The paper contends that businesses would be wise to remember that there are options other than money which can be used to motivate their workers and keep them satisfied.
Outline:
Introduction
Models of Human Motivation
Real-World Examples and Motivation Techniques
Tesco and ASDA
Conclusion
From the Paper:
"There are many different things that motivate individuals throughout their daily lives and there are various theories that have been created to discuss these, many of which date back many years (Adams, 1965; Phillips, 1994). Many people still have the misguided belief that each and every employee will work much longer and harder if they are offered more money. This is, however, not entirely the case. A lot of people today are interested in other things besides money, and employers are being required to change some of their thinking so that they can better accommodate their employees."
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