Is money the sole motivator for

That may be true for top performers who are well above average.

money as a motivator theory

Then other issues become more important: Self-discipline, motivation or culture. Many people in this world base their decisionson money, fame, and power over conscience.

Pay and motivation theory

Simply put, motivation is the reason why an individual wants to do something. Examples appear in the newspapers and in other information resources every week. Therefore, small businesses need to focus on motivating their employees to get superior performance. Pay actually came fifth in the reasons people gave for leaving their jobs. This leads to smart and thought through decisions which lead to very beneficial outcomes. That may be true for top performers who are well above average. The fact is that the average employee does need extrinsic motivation. They are pursuing their dream to achieve something special for them, whatever that might be. Herzberg acknowledged the complexity of the salary issue money, earnings, etc , and concluded that money is not a motivator in the way that the primary motivators are, such as achievement and recognition. Introduction: Money is the biggest motivator for many employees. Conclusion Are employees primarily motivated by money? Management makes use of financial incentives for example wages and salaries, bonus, retirement benefits, health insurance, medical reimbursement, etc. When I first started, this caused me not to enjoy the job. The transition to paid employment has meant increased prosperity and freedom for those who take part in it.

It is the interest in this side of human beings that provides increased value in a developed economy. Employees need to know that there are consequences associated with poor performance. I had only the extrinsic motivator of money. Others who give up their jobs do so to buy or start and run their own businesses.

How to cite this page Choose cite format:. There are many arguments that are both for and against money being the key motivator in the workplace. Anecdotal Herzberg Herzberg addressed money particularly referring specifically to 'salary' in his study and analysis. The basic motivational model explains that needs and expectations will result in a driving force to achieve desired goals, which ultimately provide fulfilment, thus leading to new needs and expectations.

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Money Is Nice, But It's Not Enough to Motivate Employees