Motivation And Monetary Motivation

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Motivation has been a hotly debated topic since the 1930s. Numerous studies have been done to identify the different forms of motivation that can guide an employee’s behaviour; and the effects of said motivation on an organization’s productivity.
Understanding and managing motivators that drive an employee to increase output and efficiency has always been one of management's most important and challenging tasks. These motivators are aimed at psychological processes that stimulate enthusiasm and persistence of voluntary actions towards a goal. Because motivation can be highly individualized, managers need to adopt a wide range of techniques to keep their employees motivated in order to achieve optimal performance at work. This will in turn increase productivity and efficiency in a workplace.
This paper will discuss if monetary compensation is and should be the only form of motivation for an employee and also, why and how the manager (principal) can motivate an employee by fulfilling other needs that one may have, needs that go beyond that of survival. Some theories and models developed by noted psychologists and researchers will be further explored in this paper to substantiate the idea that managers should fulfil …show more content…

Edward Deci, a professor in Psychology and theorist, defines intrinsic motivation as “engaging in an activity purely for the pleasure and satisfaction derived from performing the activity” while extrinsic motivation pertains to “a wide variety of behaviours that are engaged in as a means to an end and not for their own sake”. So while monetary compensation has proven to be one of the bases for employee motivation, many other factors that motivate an individual are equally crucial and have to be put into consideration by the modern day

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