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Does Money Really Motivate The Employees? - Career - Nairaland

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Does Money Really Motivate The Employees? by jcflex(m): 4:29am On Nov 17, 2014
Employee motivation is the single most important factor that fuels an organisation’s growth story. When you look at a successful brand, what you see is the fiercely competitive spirit that comes across through its product innovation and sustained efforts to reach out to more customers through some astute marketing.
What you will not see is how the brand has seamlessly woven the threads of employee motivation into its corporate culture. Companies consistently posting profits know how to keep their employees happy and motivated.
But motivating employees isn’t easy. It is a fairly complex task and there are times when even the most well-planned strategy fails to deliver the results you are looking for.
I’ve already talked about some unorthodox tactics that entrepreneurs can use to motivate employees. Now, I want to delve into what is seen by employers as a foolproof method that never fails to motivate employees – the “salary raise.’’
So, here’s my question – “Does money really motivate employees or are we overestimating its importance?”
On the face of it, there seems to be only one answer to this question – “Yes, it motivates employees and its importance cannot be overestimated enough.”
No brainer, right? But dig a little deeper and doubts begin to surface.

A tenuous bond

Even if there is a link between employee motivation and a salary raise, it is shaky at best. Think about it. The happiness linked to a pay rise wears off quickly. At best, it will have a passing impact on motivation. It’s common human tendency to want more, especially when it comes to salary. The raise you are offering an employee might never be enough. Dissatisfaction with the raise might begin to creep in quickly. That can hinder motivation and performance.

There is a long time between pay rises

A salary uptick typically happens once a year, which means employees have to wait for a very long time between one salary appraisal and the next. Yes, your employees will be ecstatic with their salary hike but to think this state of affairs will continue till the next hike is stretching things a bit.

This means you can’t depend on a pay rise alone to motivate your employees. It’s just one of the tactics that ensures the people who work for you aren’t dissatisfied with their jobs.

More placation than motivation

A pay hike is a means of placating employees, not a means of motivating them. It keeps them in good humour; that’s it. Salary improvement can result in employees approaching their work with renewed vigour, but only for a short spell. After that, it’s back to square one.
I believe sustained employee engagement, respect, dignity, continuous learning, delegation, autonomy, accountability and responsibility to be far more effective motivational factors compared to a pay hike.

Don’t get me wrong – it’s important that employees are paid fairly but to think this will motivate them to perform better at their job is a tad unfair. The reason why they are getting a raise is because they deserve it forall the good work they’ve done through the year, not because it will help them improve their performance.

“Better performance” can be seen as an ancillary benefit that might or might not happen. If you use a salary raise purely as a motivational factor, you might even end up rewarding non-performing employees.


What works is sustained effort

Salary increases should be just a part of your overall motivation strategy. Rewards are important but they are not the be-all and end-all of employee motivation.

You must make sustained efforts to make it easy for your employees to succeed and keep growing every day on the job. This is what will motivate them to work for your organisation and deliver their best. As can be imagined, this is a continuous effort and not something that can be taken care of once a year by offering employees a salary raise.

www.entrepreneur.com
Re: Does Money Really Motivate The Employees? by Nobody: 4:40am On Nov 17, 2014
No, its bowl of garri that motivate employees.
Re: Does Money Really Motivate The Employees? by kennyslim1(m): 4:49am On Nov 17, 2014
Bridgetown:
No, its bowl of garri that motivate employees.

hahahaha
Re: Does Money Really Motivate The Employees? by esmeralda1(f): 4:54am On Nov 17, 2014
The write up is too long n it seem uninteresting, but to answer ur question yes money motivates employees among other things like job security, possibility to grow in one's field or career, d largness of d company can also put some elevation to ones esteem or status etc.

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Re: Does Money Really Motivate The Employees? by Nobody: 5:56am On Nov 17, 2014
Yes, it does.
The thing with the human mind is no matter how developed we are, one thing we share daily is the struggle for survival. We've grown our whole lives conditioned that money = food. Following that reasoning anything which gives money betters our survival chance over the next man: employment = money = food. That is more than enough motivation to keep workers in line.
Re: Does Money Really Motivate The Employees? by Anthrophile(m): 7:26am On Nov 17, 2014
Although money fuels motivation and is a main motivator, not everybody is primarily motivated by money. Motivation sometimes depends on choice and values. I have seen people who choose to work in a smaller hospital just because the hospital has a free creche for its child
-bearing age staff. Some may also decide to work in a firm close to where they live due to their family and transportation concerns.
Re: Does Money Really Motivate The Employees? by Nobody: 8:54am On Nov 17, 2014
A well thought writer up. May I infer that in as much as money is a passing motivator, a good organisational structure and conducive working environment is much more a greater impetus to work than mere money. Some employees seem to not be at their best because their pay is not commensurate with their knowledge, qualification etc.
In nigeria, there are quite a lot of loopholes as employers especially of small establishments want to up profits by all means and as such you might see a person undertaking multi tasking roles.
In addition, the greatest impetus to work is the vision of the employee, an employee who wishes to grow in a particular specialisation will want to do as much as possible to garner the best experience in organisation where they find themselves

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Re: Does Money Really Motivate The Employees? by jcflex(m): 9:01am On Nov 17, 2014
In as much as i agree with you all, that money motivate staff, how often do organization increase wages, probably once in a year, some every two year or so, money is jst for a short time, once you receive the new wages for like 2mnth, you start to hope for another increment, sometime once you the new package, you will ask, you will be tempted to ask, why the increment was very small like this.

Things that really motivate staff, to want to do more and beat their previous work rate, check this out

Recognition - With a small gift (not money) that have the company logo on it, that you will keep seeing for like 5yrs

Training - Training will always take you out of your conform zone, to do more, add creativity to your work

Paid vacation - Go on vacation, all expense paid by your company, most pple if given the cash will not go on any vacation will use the cash for something else.

Job Security - When you are sure of your job security, you will always be motivated to do more for your company

Career growth - company that provide career growth for their employee, hardly loss staff, in respective of the pay, steady growth is key to retaining and motivating staff.

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