Classical Theories of Motivation
February 12, 2025
We are now aware that reinsurance companies are created especially for taking up risk from other insurance companies. Most people believe that this is the end of the value chain. This means that the risk stays on the books of the reinsurance company till it is extinguished. However, this is not the case. Reinsurance companies […]
The global insurance industry is at a strange crossroad. On the one hand, the market is completely saturated in countries which are known to be the developed market. On the other hand, the developing countries are completely underserved. It has been estimated that at the present moment, insurance products have less than 5% penetration in […]
External Sources of Funding Though the term nonprofits refers to organizations whose motive is not to make profits, they still need funding for financing their day to day operations that include paying salaries, running expenditure, and costs incurred for maintaining the offices and running the campaigns. There are many sources of funding for nonprofits and […]
Reinsurance contracts tend to be very complicated. As we have already studied in the previous articles, a wide variety of complicated structures with various cash flow probabilities are associated with reinsurance contracts. Hence, it needs to be understood that the complicated nature of these reinsurance contracts sometimes ends up creating complicated accounting policies as well. […]
Lisa works as a Brand Executive with a reputed multinational firm. She was asked to deliver a presentation on her assignments and achievements. Her appraisal was due that month, and she did not get her promotion. No points for guessing, her presentation played the culprit. Her thoughts were not at all clear and she could […]
“I am in this job because I have no other option.” If this is what an employee of your company feels, read on to know how this statement can be changed to something more positive - “I love what I do.”
First things first - whose responsibility is it to ensure that an employee loves his job? While an employee would say - the employer, the human resource experts have a different point of view which sounds fair. It’s both the employer and the employee who should work together to make work fun for each other.
It is interesting to know here, that employees do not rank ’salary’ as the top factor in determining whether they like their jobs or not. What is important to them then - the opportunity to do what is ’important’. Almost all the employees would like to feel part of the big picture and would want to contribute to the organizational goals in some way or the other. Doing the mundane, routine work will never excite them - what excites them is - work that challenges them to use their talent. Right Management Consultants conducted a survey sometime back and found that 83% of about 500 workers surveyed were motivated by “challenges at work”. Also, as per an executive editor of the Harvard Business Review, while salary and promotions could do a great job of demotivating people if handled ineffectively, they aren’t so much effective in motivating people.
So then what needs to be done for effective motivation at workplace?
![]() | Link Rewards directly to Performance- An organization should adopt a fair reward structure which provides incentive to the most deserving employee. Have an incentive structure in place doesn’t solve the problem... what makes it workable is the employees trust in the system and believe that they will be rewarded if they perform well. |
![]() | Compliment employees- Even though an employee’s name has not appeared in the list of people getting incentives, go ahead and compliment that employee for a job well done - no matter how small. There is nothing more satisfying to an employee than a pat on his back. |
![]() | Be transparent- While there may be some strategic decisions which you might want to share with the employees at a later stage, make sure employees do not give in to the rumours. Stay in touch with the employees. |
![]() | Work on your PDP- Every employee is responsible for his/her own career. He/she should work towards his ’Personal Development Plan’ [PDP] as discussed and agreed by his manager. Find out what are the training company offers and which is best suited to his development needs. How this will motivate you - remember training always increase your marketability and enhance your career. |
![]() | Participate and Network- Remember you work for a company where a one-on-one attention might not be possible. Do not wait for an invitation to participate in a discussion. If you are a part of a forum, then you have full right to express your opinion and be a part of the process. Expressing yourself is a good way of motivating yourself. |
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