IS MONEY THE BEST MO TIVATOR FOR EMPLOYEES?

It is a myth that MONEY is the best motivator. It is observed that people keep working for a company for money but do not necessarily produce any extraordinary results. On the contrary, people take initiative and produce extraordinary results because of their own motivation. It is rightly said, Money and job satisfaction are the two wings of a bird; one is enough for survival, but to fly high both are required. Most of us believe that it is very easy to motivate a person. However, it is true that nobody can motivate anybody. Motivation is an inner feeling, a desire, and an inclination that compels a person to act or behave in a certain manner. An individual gets either motivated or demotivated solely because of oneself. As a practicing manager we have a very limited role as far as job contents, design or working conditions are concerned. Nevertheless, we have an important role to play i.e. creating the right environment for people to feel motivated and perform. Another important role we need to play effectively is to carry out Performance Appraisal and provide feedback to our team members on a regular basis. Though all of us know recognition and rewards motivate a person yet on many occasion we fail to do so. Remember, Things that get rewarded get done. As a manager if we fail to reward the right behavior, most likely we get the wrong results A mistake most of us often commit is that we handle all our team members in the same manner. We forget what motivates one does not necessarily motivate the other. Different people have different needs; it is their craving for fulfilling these needs that pushes them to put in extraordinary efforts. For instance, a person in his early years of career may be more concerned for money. However, over a period instead of money, the job security matters to him more. At this stage he/she may not be as disappointed on not getting the incentive as on missing a promotion..

Introduction Money motivates is one of the most common motivated tools which is used by managers. Most managers believe that staff will be more enthusiastic with higher salaries. Exactly, it has obvious effort. However, money motivates is not suitable for everyone. In some cases, it does not only make staff worker harder but also it produces negative effects. Utilizing money to motivate staff is one of typical double edge sword. On one hand, money maybe the most straightforward way which gets effect instantly for motivation. Because most people always hope more money is better. On the other hand, money is the most unreliable, the most expensive cost and the hardest to operate. Managers cannot ensure that employees wages are proportional to working enthusiasm. Advantages of money motivated The relationship between employers and employees is supply and demand. Only give staff what they want, they will do what you want. Money has broad function in many industries. First of all, a motivation theory should be mentioned

which named Maslow's hierarchy of needs. Maslow proposed that humans needs can be divided by five stages in 1943. On the bottom it is called physiological which means the needs of basic goods in humans life, such as food, water, clothes and sleep, etc. The need up the physiological is called safety or security needs. It is said the security around the humans. For instance, individuals have personal body safety, property safety and so on. The higher stage is called social needs, in other words, it is love or belonging. It includes friendship, relationship. Self esteem is on the second stage. It means people needs respects by other people. Self actualisation is the most needs of humans, which is on the top. Motivation at work can be defined as an incentive that drives people towards fulfilling tasks set to them to perform well at work. The more the workers are motivated, the more likely they are to perform to the best of their potential. On the other hand, without motivation the workers are likely to become uncommitted resulting in a poor performance (see Smither, R. D., 1998). In order to clarify the given quote, it is necessary to differentiate between intrinsic and extrinsic motivators. Intrinsic motivators are those that come from persons own desire to gain personal satisfaction, something that comes from within the person without external intervention. One is said to be intrinsically motivated to perform an activity when one receives no apparent reward except the activity itself. (see Deci, 1971 cited in Staw, 1995, p. 13). Whilst on the other hand, extrinsic motivators are those that are generally applied by others higher in the organizations hierarchy including salaries or bonuses (see Bratton et al., 2010). The aim of this essay is to apply the motivation theories to discuss the significance of money as a motivator at work and prove that Ed Lockes statement fails for being too conclusive after taking into account some possibly much more important intrinsic motivators. By saying Money is the crucial incentive because, as a medium of exchange, it is the most instrumentalNo other incentive or motivational technique comes even close to money with respect to its instrumental value Ed Locke (1980) suggests that money as an extrinsic motivator is most the significant motivation at work. Therefore it implicitly rejects any type of intrinsic motivators since money is the instrumental medium of exchange and suggesting that it is a necessary tool with which employees can purchase anything materialistic they need. This approach to motivation is similar to Taylorism which viewed people as lazy, work-shy and the only way to motivate them is to use extrinsic...

It is not a choice of one...Different factors influences employees during different levels & varied responsibilities in any organization. I find a good blend would provide a nice platform for employee to grow and excel in career. As Employee works in a team and his actions are influenced by his direct boss so having a great boss is one of the important factor as well.

Intro 1
Money makes the world go round, and nowhere is this more true than in the workplace. Employers know that money is one of the best motivators. However, are bonuses or cash awards always the best way to reward employees? In this essay, I will look at some of the arguments for cash as a reward.

Intro 2
In the past, when people did not have much money, they were eager to work and to get a big salary. Today, however, most people are well paid and comfortable in their jobs, and it is hard to motivate them by simply offering cash. This essay will discuss different ways of motivating employees and suggest that money is not always the best motivator.

Intro 3
Many people argue that cash incentives are an unfair means of motivating employees. Others love the simple, practical, down-to-earth gift of money for a job well done. I feel that while there are some circumstances where money is the best recognition for extra work, there are other times it is inappropriate.

Intro 4
Many companies give outstanding members of staff bonuses for good work. I firmly believe that this is demeaning, trivializing, and bad for morale.

Intro 5
People are motivated by different things. Some employees have financial goals, others have professional goals, and others have personal goals. The same incentives cannot work for all. This essay outlines some of the reasons why cash is not always a suitable motivator for excellent employees.

Intro 6
The primary reason why people have to work is because of money. Employers know this, and many companies reward outstanding employees with bonuses and cash rewards. In this essay, I will show that most people are motivated by money, and cash is a fair and effective way for management to show appreciation to hardworking staff.

Intro 7
I remember working in restaurants when I was in college and begging my manager for as many extra hours as I could in order to earn more money. Today, however, in my job, I would prefer to earn less and have more time off. In this essay, I will say why I think money is only one way to motivate employees.

Money awards are effective;

1. 2. 3. 4. Money motivates people, and extra money motivates people to work extra Employees compete to raise productivity or standards It is not always possible to promote people, so money is a simple way to reward workers Money is acceptable for all workers some may not appreciate a particular present, or some gifts may be insulting

Money is only sometimes effective, or sometimes does not work:

1. If employees are highly paid, money may not be sufficient. They may prefer other benefits, such as an award ceremony or dinner, a club membership, a travel ticket, a car, a window office, etc 2. Money may set employees against each other, leading to conflict in the office 3. It may be difficult to determine the standard or basis for the decision to award the employee 4. Employees may feel forced to compete

Money is not effective:

Employees work for a salary they do not want to perform like circus animals if paid more Money trivializes work, which for many professional employees should be its own reward The amount may not bear relation to what the employee does If the employer finds it motivating to award money, perhaps the salaries are too low There are many other ways to motivate employees

1. 2. 3. 4.

The Payoff
Psychologists call money a "deficiency need." Money motivates people only when they feel deficient in it-when they feel they do not have enough. What can an employer do to be of assistance to employees in times of financial difficulty, or even financial success? How can an employer help people with money without "just paying more?" Can a company inspire loyalty in employees by adding a benefit that transforms their lives? It can, and the answer is relatively simple: if the organization can teach employees to be debt free, it will help them on the road to financial independence, which will result in motivated, loyal employees.

Self-discipline is the most important personal quality for assuring long term financial success. By teaching employees financial discipline, and offering these lessons as an employee benefit, companies can help their employees transform their lives. Basically, companies can help employees learn to live on less of their money in the short term, while teaching them to aim for long term success. Moreover, companies can essentially give employees as much as a 40% raise by teaching them to eliminate debtwithout spending huge amounts of money. In essence, employers can increase pay without raising pay.

Development programs are not made for the poor

Most of the development programmes do not benefit the poor. Even if it does, it does in a skewed manner. Although a large amount of monetary resource is sanctioned but unfortunately it is only 15-17% of the development project's fund does have a real trickle-down effect. The remaining 83-85% is usually eaten up by the intermediaries, systems, dishonest bureaucrats, even politicians. This is the tragedy of the development programmes in a developing country, particularly in Asian countries. Political as well as social bankruptcy have emerged as all-pervading force in these countries. We hear a lot from our so-called Govt. officials and politicians, development programs meant for the poor, particularly meant for the poor!!!! But are they actually helping them??? India, a wide diversified country where innumerable so-called politicians, governmental and non-governmental organizations stand on the dais and promise to take India towards a better future by eliminating poverty and fulfilling the demands of the destitute. But are they not just back-stabbing and back-biting us??? Friends, it is true that we do not know everything under the sun....Although a large amount of monetary resources are sanctioned each year, but dear friends, unfortunately it is only 15-17% of the development projects that have a tickle down effect!!! The remaining 83-85% is usually eaten up by the intermediaries systems, dishonest bureaucrats and even betraying politicians....... This is the tragedy of the development programs in a developing country like India...I am pretty sure.you all must have heard about the well-known development programs, PDS (Public distribution system). It meant to provide subsidized food grains and other essential commodities to the poor people in both rural and urban areas. But did it really help?? Where 60% of the beneficiaries of this development program are not the REAL Poor, where most of the time PDS outlets are closed and where the private dealers often resort to many types of malpractices, causing tremendous alterations in the PDS. Seeing this scenario, would u call THIS DEVELOPMENT FOR THE POOR???? Look up at another program, IRDP (Integrated Rural Development Program) which aimed at providing loans to the people in need. Again, did this actually benefited??? Where most of the beneficiaries misused the program resources, many deliberately swindled the money and many others who really aspired to benefit from it couldn't do so due to a variety of reasons, including inadequacy of funding, lack of proper training and nonavailability of infrastructural support.... In the end i would just like to conclude that; If this is the Development full of delinquencies and loopholes that our government pledge to the poor. Then I would really apprehend there is actually no need of betraying the innocent poors!!!! No need of playing with their meaningful lives!!!! Rather do something which in reality benefits them......

A movie can affect one soul directly

In most of the cases it has been seen that a movie can affect one soul directly. Even though most people dont think about this, the people who have been involved in a crime tend to take every precaution before going to the movies because they were attacked at the place where they could relax and have a good time watching their favorite movies. Nowadays parents are not aware of the amount of violence that is in the movies. This is a story that opens your mind to the brutality thats happening with us: July 20, 2012. Aurora, Colorado. Crowds are lining up to see The Dark Knight Rises at the Century 16 Cinema at midnight. Everyone is charged up to see the final part of the trilogy. As they enter the theater, they feel darkness fall around them. People take their seats. Some people decide to chat, some start to eat their popcorn, while some go to twitter to tweet about their activity. Then, the movie starts. As soon as it began, everything was real intense. Then there was a gun fight in the movie. All around the dark room, smoke began to come out from the sides. Everyone thought that it was part of the special effects they were experiencing. Then the gunshots started in the movie. It was like they were in the movie. But those special effects were part of a plan by someone in the audience. As soon as the smoke started, he took out his guns and started shooting anyone in sight. He didnt even think for a second about what would happen afterward. This man was arrested in about 2 hours. He had dressed as the Joker in the The Dark Knight. His hair was dyed red to match the characters appearance. He had brought a bag filled with guns and smoke bombs. In the end, he had killed about five people and injured twenty others. This incident proves that movies do affect real-life crimes. Movies that have violence, like fist fighting, gun fights, dangerous stunts, etc. tend to increase the crime rate. It is shown that people between the ages of 18-24 have the most crime rate inspired by movies.