There is a theory, that if an employer increases their employees pay then people function better at their jobs. Research shows that this theory is true, especially if you are doing more algorithmic work. If workers are doing work involving creativity, then employers need the workers to be focused on the actual creative work at hand. To make sure employees to not be distressed by the issue of
Gains are shared with unit/department employees on a monthly, quarterly, semiannual or annual basis according to some predetermined formula calculated on the value of gains of production over labor and other costs. The plan lets employees reap some of the rewards of their efforts through teamwork and cooperation and by working smarter and harder. Gain sharing plans offer the following: · Directly ties pay to some important measure of company performance · Results in productivity improvements when installed · Appropriate for all groups of employees · Improves communications and teamwork among employees · Increases employee awareness of "the big picture" · Improves job satisfaction and employee relations · Increases employee participation through involvement in the system Gain sharing pay programs have the following disadvantages: · Time consuming to design, implement and administer · Requires employee orientation, education and training · Accurate and timely production and cost data must be available · If not already in place, gain sharing requires a shift to participative management and employee involvement Once you decide to add a gain sharing plan to your company you must pick the type of plan you wish to implement into your company. The following is a description of different types of plans a company could implement. A Value Added Plan is the cost of materials and services is subtracted from sales to determine a value added figure.
Introduction: Evidence suggests that peoples’ actions are often governed by self-interest. “The self-interest motive is singularly powerful, according to many of the most influential theories of human behavior and laypersons alike (Miller, 1999, p. 1)”. Consequently an effective and responsible manager uses rewards and punishment as a means to improve efficiency of employees and productivity of the company. Whether self-interest alone is responsible for human motivation is a debatable issue and a manager must take this factor into account. Factors other than rewards and punishment also affect motivation.
(Armstrong M. & Murlis, H., 2007) Motivation is the pleasurable emotional state which comes with the outcome of the (reward) the job (Locke 1976). Employers are considered as the spine of the organisation. This gives them the responsibility of creating a pleasurable working condition to boost the motivation of the employees. It is generally believed that employees in every business sector are motivated by wages. It is not uncommon to find organisations increasing wages in recruiting and in retaining key employees in the world of business.
The employee goal will be the production rate and every time they achieve that, bonuses shall be doled out. • Feedback from the employees should be valued and evaluated as this will help the management to reduce costs and maximize revenues. • Employees will be self-motivated to achieve the desired production rate as beyond a certain payroll value they will be eligible for the bonus. This strategy will keep them on the run towards achieving a high production rate. • Employee engagement schemes such as organizing workshops bridges the gap between the management and the employee as listening to the employee grievances solves half of the problem.
Properly motivating employees is crucial to the success of any business. When an organization has a motivated workforce, the staff will yield higher productivity which leads to an increased likelihood that a business will achieve its organizational goals and objectives. Motivating employees can be especially challenging for an organization, as employees are motivated by different incentives. Organizations must create incentives, both monetary and non-monetary, that will not only create employee satisfaction, but it must also create a level of performance that will create an increasing and sustainable growth. During a time when you felt unmotivated or unsatisfied at work, why did you feel that way?
Incentive systems play a vital role in underlying the companies’ goals or desired results. By linking them together, employees are informed and motivated to perform at a higher level, hence meet the desired results. There are a number of incentives used by companies, some are monetary rewards and some are non-monetary rewards. The most common one is incentive pay or pay-for-performance, which has been widely used among companies across the globe even in not-for-profit organisations. However, putting a large amount of money behind the desired results can lead to counterproductive results that are; employees narrowly focus on achieving what is measured or rewarded and neglect any other aspects which are crucial for a company’s growth; or top
Organizational Motivation Plan The internal power of humankind that drives him towards performance in the organization is motivation. Motivation is demonstrated and measured by a number of theories and these explain the reasons why people behave in a certain way. As mentioned before, clever management does not simply outsource or cut back the workforce, but seeks other, more successful ways to increase the workforce productivity by analyzing and choosing better approaches. The best incentive Organization plan to achieve high job satisfaction, hi... ... middle of paper ... ...ure, distribute and serve goods and services can lower the costs and increase the profits. Employees need to be trained on how to successfully utilize to achieve given tasks in a timely matter with expected outcomes.
What is Motivation? Motivation is the force that makes us do things: this is a result of our individual needs being satisfied (or met) so that we have inspiration to complete the task. These needs vary from person to person as everybody has their individual needs to motivate themselves. Depending on how motivated we are, it may further determine the effort we put into our work and therefore increase the standard of the output. When we suggest factors (or needs) that determine the motivation of employees in the workplace, almost everyone would immediately think of a high salary.
Novak refers to “the defeat of envy through upward mobility” (Jennings, 2009) which basically is saying that promotion within the workplace gives people a reason to continue working hard because they will be rewarded. Reward is the basic premise for employment in a capitalistic culture. Because there are few or scarce resources, people will be rewarded according to how hard they work, and how well they work. According to a secondary source Capitalism Crib-Sheet, (Anxiety Culture.com, n.d.) who quotes from the Wealth of the Nations by Smith, “By rewarding the most efficient, competitive people, efficiency and competition are promoted, and everyone benefits more than if inefficiency was rewarded.” (Smith, 1776) The second set of responsibilities refers to external stakehol... ... middle of paper ... ...ecology”, which I interpreted as meaning love thy neighbor as thyself and do unto others as you would have them do unto you, while still following the laws and making a profit. References Anxiety Culture.com.