Out-of-class essay: some employers reward members of staff for their exceptional contribution to the company by giving them extra money. This practice can act as an incentive for some but may also have a negative impact on others. To what extent is this style of management effective? Are there better ways of encouraging employees to work hard?
Nowadays employers frequently face a problem of recruiting experienced employees and good troupers. They encourage the employees to work hard by many different motivators: financial and non-financial. And today we discuss which ways of giving employees a boost are the most effective? The main incentive method is a financial motivation. Financial motivators are most common; they include payment schemes such as piece rate, commission based and bonus schemes. On the one hand, this may be an inducement for some people; on the other hand, it may have a deducting effect. No doubt we live in a money-motivated world. No amount of human relations between coworkers can compensate for a lack of monetary reward. If the reward is right, good human relations will give that extra zest to a team, motivating them to give of their best efforts. Insufficient monetary reward cannot be compensated by good human relations. On the other hand, it can also have a negative effect on some other workers. First of all we must bear in mind that nowadays team work has become the most effective way to obtain the possible results. The downside of monetary motivation appears when only a few members of a team are rewarded. Envy is the power that destroys team work. Everything that has been said illustrates that self-motivation can go only so far and it needs to be constantly reinforced by rewards. Let us start to consider the other, non-financial methods of motivation. Non-financial motivators may include: fringe benefits (such as a company car, cheap travel and holidays); terms and conditions of employment (working hours, holidays and working...
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