Answer To: Organisational Behaviour Research Essay – 30% (Individual Assessment 1) Due Date: 11:30 pm (Friday –...
Sarabjeet answered on Aug 13 2020
Organizational Behavior
Organizational Behaviour
Organizational Behavior August 13 2018
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Introduction
Most employers seek ways to increase employee’sefficiency and productivity. But how do you motivate employees to work hard to achieve this? A few people say it cannot be completed, the motive is intrinsic, so it's almost impossible to effect it with external methods. Others say that there are many ways to increase employee enthusiasm, and key is to find employee values. One of the prime tools employers seek to increase employee motivation (thus increasing efficiency, productivity and profitability) is money. Bonuses and rewards compensation programs are often seen as a way of changing employees' behaviour. Money and other economic rewards are an essential part of an employment relationship and can be effectively used to motivate employees. But this method has several advantages and disadvantages.
Money and other financial rewards are a fundamental part of the employment relationship and can be used effectively in motivating employees. Discuss pros and cons of this argument.
Pros to Using Monetary Incentives to Motivate Employees
Let's begin with the list of the advantages of providing incentives to encourage employees. It's a simple and seemingly simple way to impact specific behavior. It does not have to be personalized - everyone is paid, and almost everyone does not want to get more. Most employees do not like to get high performance recognition and rewards, which can increase employee retention and morale. Monetary incentives regularly achieve short-term objectives for the business. Incentive programs can expand employee attitudes as well as improve working conditions (Akanni and Ndubueze, 2017). If there are limitations that do not allow you to increase or increase, this can be a way to offer additional remuneration to the best artists. Such a system can be seen as a fair extra effort associated with additional funds, not like other methods, where whole employees receive the same salary regardless of how much effort they add to it. Incentive programs can also be utilized as recruitment tools.
Cons to Using Monetary Incentives to Motivate Employees
There is also a disadvantage. The following are few of potential pitfalls of utilizing a monetary incentive plan. If used continuously, bonuses or other rewards can be considered as rights rather than incentives. If the employer is not clear enough about the behavior he wants to motivate, it is easy to have unintended consequences(Barclay Roger, 2011). A typical instance of this is generating incentives (or commissions) for salespersons based solely upon revenue generated, regardless of profitability. The goods sold at the loss are usually not good! Unfortunately, this kind of plan might actually lose momentum, and the incentive plan does not always operate as expected. For instance, consider any employee who recently missed her or his goals (and consequently didn't get additional money). The employee's future motivation may be small(Barzoki and Rezaei, 2017). When monetary incentives are linked to group performance, there is a sense of frustration if there is an unequal input to group members. If the reward is based upon competition amongst employees, it will lead employees to actively try out the environment of their colleagues. On the surface, it may bring high performance, but in fact, it may cause employees to undermine the efforts of team members or commit to personal goals, thereby damaging the company's objectives. It takes effort and time to establish and track an incentive plan and confirm that it is paid correctly. Monetary incentives...