Role of Money as a Motivator

Introduction

Motivation is defined as a process which account for a persons intensity, direction, and persistence of effort toward attaining a goal. (S Robins, 2004) As an extrinsic rewards and one of the well known motivational techniques, money is proved to be a well-accepted inducement for a long history. It is normally reflected in leave rise, bonus or share option. It is an effective inducement but not in all cases. Drawing from virtually of the famous motivation theories, this article discusses from the individual employees perspective on different occasions and effectiveness of money as a motivator. The study will focus on hierarchy of take theory, expectation theory and equity theory to explore the interaction between a person and the environment with money motivator in place. The study is to shed a light on how to use money as a motivator pause by analyzing employees level of ineluctably, defining a healthy performance-reward administration and paying attention to equity so as to stack a motivation plan accordingly in the sincere business environment in order to achieve great performance from the employees.

1.         Money motives employees with different level of postulate differently.

In the hierarchy of Needs Theory, Maslow defined that there are five levels of unavoidably in human being grouped into two orders. Lower-order needs include desire to fulfill physiological, safety and social needs.



Higher-order needs include desire to fulfill esteem and self-actualization needs. (Maslow, 1954)

Money usually plays an of the essence(p) role in meeting low-order needs for most people. So when identifying the employees as people desiring to meet their low-end needs, the managers can make close utilization of monetary motivations by offering handsome pay package to keep prod their better performance with high intensity, continuous persistence and aligned goals with the organizational objective. A latest report shows that the resign rate...

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