Nowadays, salary and non-financial incentives constitute part of the methods that companies and managers use to motivate people. Through the study of different theories of motivation and needs, we explain the most important catalysts of motivational behavior. There are no doubts that all employees have different needs to satisfy in order to be motivated at work. His satisfaction being a source of motivation, it is important to answer his needs and recognize what he gives to his company in terms of time and performance.
That is why financial and non-financial incentives are key points to motivate employees in their daily work. Besides, salary is definitely something important for people because it determines a dedicated standard of living as well as a contribution in exchange of efforts made by employees. However, above all, people are looking for more and more pleasant working conditions and social relationships with their supervisors and collaborators. As a result, managers must define motivators through other methods such as an appropriate management style, internal communication, participative decision-making process, etc.
If motivation is quite personal, it rests with managers to inspire and maintain motivation amongst employees. There are no doubts that motivational strategies were more dedicated to high potential people, but today, we have understood that all hierarchical levels of companies are accounted for even if top managers are still the privileged ones.
That is why employees are not afraid to get various professional experiences or training in order to get a fair remuneration compared to what they bring to their companies. But money is definitely not the only factor that motivates people to work efficiently. Thus, this paper aims at implementing several motivational strategies that can be used to motivate employees at work such as financial and non-financial incentives.
[...] Thus, nobody will be harmed and a feeling of control and transparency will come up, entailing more motivation to work individually and together. Then, managers have to trust people, so that employees find their job very fulfilling and no doubt that this feeling will develop their motivation. Therefore, employees have to have an action space in order to take their own decisions to reach their objectives. The role of the manager will only be to delegate and control the achievement of such or such task. [...]
[...] Source: http://www.valuebasedmanagement.net/methods_alderfer_erg_theory.html The works of Maslow, Alderfer and Herzberg profoundly marked companies in the sense here they were the first ones to think that other factors than remuneration enabled the motivation of employees. Besides, several researchers came up with new models based on the motivation process and not about needs theories anymore. The most known are the ones dealing with expectancy and equity. Both theories try to explain why certain results become desirable for individuals. Vroom's Expectancy theory According to http://books.google.fr/books?id=z239tBfhu_cC&pg=PA188&lpg=PA188&dq=Vroom+mot ivation+multiplicative+function&source=bl&ots=L1nWt2Vn0p&sig=o_6pNCdSkmfCpvy rkGLzEqpyGm8&hl=fr&ei=Vq8fTKa9M- CP4gbNpaShDg&sa=X&oi=book_result&ct=result&resnum=8&ved=0CEUQ6AEwBw#v=onepag e&q=Vroom%20motivation%20multiplicative%20function&f=false, motivation at work for Vroom is a multiplicative function of employees' expectations towards future results and towards the personal value they grant these results. [...]
[...] Indeed, in acting on the different components of remuneration, CEOs and managers tend to increase motivation of their employees and more precisely their performances. The permanent objective of the remuneration policy is to offer salaries that are competitive on the market, that correspond to the position and skills and finally to remunerate people in a fair way according to performance. Besides, there are no doubts that salaries are often perceived as the main concern for employees and lots of companies use it as a motivation tool. [...]
[...] Thus, this paper aims at implementing several motivational strategies that can be used to motivate employees at work such as financial and non-financial incentives. THE MOTIVATION THEORIES First of all, it would be judicious to define motivation. According to http://www.radical-leadership-management.com/definition-of-motivation.html, motivation can be defined as process of boosting the morale of employees to encourage them to willingly give their best in accomplishing assigned tasks”. Moreover, there exist several motivation theories that can be divided into several categories. The first ones deal with different needs such as physiological, psychological or sociological. [...]
[...] NON-FINANCIAL INCENTIVES AS MOTIVATORS According to http://findarticles.com/p/articles/mi_qn5305/is_20041004/ai_n24914613/, lots of employees look for other incentives that are not related to money. Quality of life at work is also an important issue for them and this section is going to deal with various points referring to this trend. Working conditions Nowadays, big companies have developed new useful services for their employees in order to help them in the daily life, so that they are less stressed out by external factors and feel more involved at work. [...]
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