Is Money the Only Motivator at Work?
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Is Money the Only Motivator at Work?
Fremont: Do you work just for money or for the passion and love of learning? If you are in a situation to choose a job with a big pay cheque or a job which is satisfying you mentally, which one will you choose? Is money the only motivation at work? Fredreick Winslow Taylor, in his Theory of Scientific Management said that workers are motivated mainly by pay. This theory was criticized all over the world and polished by several experts as they felt that money is not everything. According to Elton Mayo, workers are not just concerned with money, but could be motivated by having their social needs met whilst at work, a fact ignored by Talyor. This helped to create the Human Relation School of Thought, which focused on managers taking more interest in the workers, treating them as people who have worthwhile opinions and realizing that workers enjoy interacting with each other. Abraham Maslow came up with the Neo-Human Relations School, which focused on the psychological needs of employees. He structured the needs into a hierarchy, where money was put on the bottom of the pyramid. Frederick Herzberg polished Maslow's theory and said that motivators can be direct (concerned with the actual job) or indirect (would de-motivate employees if not present, but not motivate employees by themselves). All these theories prove that money is not the only motivator at work, even if it does, people get satiated easily, which leads us to a question "If not money, then what?" Why is there a rise in attrition even when companies are paying their employees well? Well money ain't everything; you can't stack your employees with cash, make them slog for double of what you are paying them, and make them feel that you are the best employer. There's much more to employees than the greens. This has forced companies to search for non-monetary means to motivate their employees. The best employers in the world might not pay their employees even half of what you are offering, but stuff like freedom at work, delegation of authority, job security, job enrichment, better working conditions, and paying more attention to their emotional need mean a lot more than a big bank balance. You can always get a high paying job, but if they don't treat you well, what's the point? Thus, companies should pay attention to the little details that matter to people like applauding their work publically, making them feel accepted, and asking their concerns. The best managers in the world are best in people management, as they understand every concern which is bothering their employees. This not only helps them to improve upon their practices, but also create the best practices which make the employer and the employee happily married to their work. If you look at the companies termed as best places to work, you can see that they have something more than the fat pay cheques they offer to their employees. Some offer improved facilities, some a good work culture, and some have a few extra ordinary leaders who inspire you to achieve the impossible. So what according to you motivates you to work? We would like to hear from you. Share your thoughts as comments below