Employee motivation

 

Introduction

Employee Motivation is an important  part Human Resource Management and it plays a crucial role in the long-term growth of an organization. Human resource mananger should think,

• ·         Why do workers work
• ·         How can they  work when properly motivated 

Employee motivation is related  to the psychological factors and processes that drive employees to perform at their best and contribute positively to their work environment. Motivated employees are more engaged, productive, and committed to their job responsibilities. Motivation can arise  from various sources, including intrinsic factors like personal fulfillment, job satisfaction, and a sense of achievement, as well as extrinsic factors like monetary rewards, recognition, and career advancement opportunities. Employers often use various strategies to increase  employee motivation, such as providing clear goals, offering rewards and incentives, fostering a positive work culture, promoting work-life balance, and offering opportunities for professional development and growth. Effective employee motivation is necessary to maintain  high levels of productivity, employee satisfaction, and overall organizational success.

Figure 1Motivated employees

Top of Form

Figure 2  Types of motivation

The main difference between financial and non-financial incentives is,

• Financial incentives - tangible rewards

 Example: money, bonuses, and benefits

•  Non-financial incentives- intangible rewards

Example; recognition, flexible hours, and a positive work environment

Figure 3 Types of motivation 2

According to the,https://www.shiksha.com/online-courses/articles/financial-and-nonfinancial-incentives

Aspect	Financial incentive	Non financial incentive
Nature of Reward	Monetary (e.g., bonuses, salaries)	Non-monetary (e.g., recognition, job satisfaction)
Motivation Type	Extrinsic (external financial rewards)	Intrinsic (internal satisfaction and personal growth)
Impact on Employees	Affects income and living standards	Enhances workplace environment and engagement
Measurability	Quantifiable and uniform	Subjective and varies individually
Examples	Salaries, commissions, stock options	Flexible hours, professional development opportunities

Table 1 Differences between financial incentives and non financial incentives

Financial incentives  

According to the (Bandaranayake, 2014) ;

1. Wages-Payment made by the employer to the employee for the work performed .This is not enough to motivate employee maximum.
2. Profit sharing-A certain percentage of profit made by the organization is distributed among the employees.
3. Productivity deals- The employer agree to  pay higher wages as per the increase of output by the employee
4. Bonus-Reward given to the employees for increasing the organization profit through greater productivity
5. Share ownership -Organizations give company shares free of charge to the employees and make them shareholders .There organization expect that employees will directed to increase the profitability
6. Fringe benefits( Perks).-Apart from wages ,organizations provide benefited to the employees

•  Free meals
• A company vehicle
• Membership in a medical or insurance scheme
• Low interest loans to buy houses or vehicles
• Opportunity to buy company products at lower price
• Covering the fees for courses of further education

Non financial incentives

• ·         flexible work hours,
• ·         recognition and appreciation,
• ·         career advancement opportunities
• ·         training and development programs
• ·         positive work environment,
• ·         work-life balance. 

Figure 4 How to motivate employees in work place

Source ;you tube

Figure 5 Benefits from motivated employees

How to motivate employee

.

Figure 6  ways of motivate employees 

Conclusion

Financial and non-financial incentives are tools organizations use to motivate and retain their employees. There financial incentives provide tangible rewards and help to  meet short-term goals, non-financial incentives help to increase job satisfaction, employee engagement and foster a positive work environment in the long run. Organizations must consider both  incentives to  increase productivity, efficiency and effectiveness organization.

Well motivate employees will work with greater effort, commitment and enthusiasm. It leads directly to the greater productivity and lower cost in the organization and ultimately to the economy. Following things should be provided to develop attitudes among employees.

• ·         Job security
• ·         Flexible working hours
• ·         Healthy work environment
• ·         Leave facilities
• ·         Pensions, provident fund, trust fund

• References

Anon., 2016. Teachers'guide Grade 13 Business Studiies. s.l.:nie.

Bandaranayake, P. J., 2014. A-L Business studies. In: Part 2. s.l.:ISBN

https://www.shiksha.com

Figure 1Motivated employees

Figure 2Types of motivation

Figure 3Types of motivation 2

Figure 4 How to motivate employees in work place

Figure 5 Benefits from motivated employees

Figure 6 a ways of motivate employees

Table 1 Differences between financial incentives and non financial incentives