Organization Reward and Motivation - 2162 Words

Organization reward and motivation Introduction Motivation Definition Motivating behaviors Individual characteristics and motivation Money as motivation Pay and motivation Pay administration Pricing job Wage and salary surveys Pay range 10.Evaluating the results of pay for performance Reward Definition Equity in reward Compensation as reward Objectives of compensation management Basic aspects of compensation Challenge affect compensation Merit of reward Relationship between reward and motivation Conclusion Reference Money as motivator The issue on money as a motivator first needs clear understanding on†¦show more content†¦In the long run all lasting motivation is self-motivation. In connection to this, the important thing that mangers must maintain is understanding each employee needs and how they pursue the fulfillment of those needs, keeping in mind that at all times all people are seeking need satisfaction and that a fully satisfied need doesn`t motivate behavior. Once a need is satisfied its no longer a motivator, but the level at which its satisfied must be maintained improved or it will become a dissatisfier. This is precisely why a periodic pay increase seems so important to an employee -- the increase thats granted does little or nothing to motivate the person to perform, but if the increase isnt forthcoming then pay becomes a dissatisfier. From the above point what we understand is motivating forces are of course largely psychological in their influence, so as long as pay is perceived a fair and theres a reasonable sense of job security it should follow that lasting motivation comes mostly from the fulfillment of psychological needs and little from material rewards. In general, the most effective obtainable means of motivating employees are recognition, respect, inclusion, fair treatment, and satisfying and fulfilling work than pay (money). Pricing job Before continuing our discussion on job evaluation it is better to understand what we mean salary and benefit. Salary is aShow MoreRelatedMotivation - Extrinsic and Intrinsic1014 Words   |  5 Pagesï » ¿ ESSAY #2 Motivation: Extrinsic to Intrinsic Motivation is a key factor in determining business success or failure. Successful organizations relentlessly seek to operate with a clear understanding of employee needs , and develop specific focus’ on how to meet them. Two key theories in organizational motivation are expectancy theory and equity theory. Both theories focus on the outcomes of a given decision or system rather than on individual employee needs. The goal of both processRead MoreTypes of Motivation1118 Words   |  5 PagesMotivation is defined as the accumulation of different process which influence and direct our behavior to achieve a goal (Negussie, 2012). 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