MSG Team's other articles

11801 Ways for Organizations to Increase Human Capital

Let us go through various ways which help an organization to increase its human capital: Constant Trainings It is rightly said that the success and failure of any organization depends on its employees. Every employee in his/her own way contributes to the development of organization. One of the major responsibilities of a human resource professional […]

9320 Access To Finance – Barrier to Youth Entrepreneurship Development

When the countries are focussed on creating and nurturing an environment conducive to Youth Entrepreneurship, it becomes imperative to study the current situation, identify the pitfalls and shortcomings and design new strategies to overcome and remove the obstacles and make the path easier and clear for the youth to pursue. The other area of importance […]

11358 Special Training Programs

Most of training is either technical or behavioural in nature, but there are still other trainings that are neither. These fall under the ambit of special training programs and are conducted with an agenda of smoothening the work process within the organisation. Workforce diversity can be both positive and negative for the organisation. Positive in […]

9571 What is Blind Hiring and How it Promotes Diversity and Inclusivity Efforts in Corporates

How a Typical Hiring Process Works and Why the Hidden Identity Markers Matter Typically, the hiring and recruitment process in corporates entails receiving resumes for the advertised openings, short listing some of them for the next round of tests and interviews, the actual interview process, and then, the decision to hire or reject. In this […]

12141 The Midlife Crisis of the Middle Manager! What it is and What can be Done to Address the Problem

What Is Midlife Crisis, Whom Does It Affect, and what are the Manifestations of It? Midlife is especially challenging for anyone and more so for those in their careers when they get stuck in a job that has lost meaning. Indeed, the term midlife crisis is very popular to describe the feelings of listlessness and […]

Search with tags

  • No tags available.

Motivation

All of us need to be motivated to get work done.

We might be motivated by the lure of financial rewards like bonuses, pay hikes, and other monetary benefits.

We also might be motivated by recognition, reward, fame, and glory.

Thirdly, there are some of us who are motivated by the fulfillment that comes from doing a good job.

Finally, we might be motivated by altruistic desires of helping society and building a better world.

This is the model of motivation that has been described by the legendary organizational behavior theorist, Abraham Maslow. The different levels of motivation in each case correspond to the different life stages that an individual goes through and hence, the level of motivation and the drivers of motivation vary from individual to individual.

The Hygiene theory makes the case for the presence and absence of motivators. In this theory, we would be demoralized if the motivators are not in place and when they are in place, the base level of motivation is guaranteed. Hence, the implications of the theories of motivation are that rewards (financial and non-financial) play an extremely important role in motivating individuals.

Reward Systems

Given the background described above, organizations must evolve reward systems that motivate each individual according to his or her level of self-development and need for either monetary benefit or fulfillment imperative. In this context, it is important to note that many multinational companies have a financial component that motivates employees and a non-financial component like honoring the employees, publicizing their achievements, and making senior management talk to these employees for their contributions.

The point here is that both financial and non-financial rewards are important for individuals to be motivated and organizations must design reward systems that take into account these aspects.

In many companies, it is the practice to earmark certain employees as those in the “Fast Track” or “High Potentials” and then devise specific reward systems for these employees. This is the practice in companies like Infosys where employees are identified early on and appropriate reward systems designed to ensure that they retain their motivation levels throughout their careers with the company.

The important aspect here is that one need to stay focused and motivated throughout one’s career and it is easy to lose focus and be demoralized at each stage of one’s career. As those in the corporate sector would attest, once one loses focus and is distracted, the downward slope is swift and steep. After all, in many sectors, the last performance is the one, which counts, and hence, there is a need for individuals to stay focused throughout.

Closing Thoughts

Organizations must match the reward systems with the motivational needs of employees and hence, the package that they offer to potential and existing employees must be a mix of financial and non-financial rewards.

As economists would point out, the role of incentives in motivating employees is indeed high and hence the right kind of incentives must be rolled out. It is not simply enough if companies keep raising the salaries or giving higher bonuses. It is also not enough if companies flatter their employees and publicize their achievements. The key aspect is the match between the rewards that are offered to the employee and his or her inner needs.

Article Written by

MSG Team

An insightful writer passionate about sharing expertise, trends, and tips, dedicated to inspiring and informing readers through engaging and thoughtful content.

Leave a reply

Your email address will not be published. Required fields are marked *

Related Articles

The Problem with ESOP’s

MSG Team

Towards a Total Rewards Management System

MSG Team

Role of Bonuses in Rewards Management

MSG Team