The Importance of incentives as Means of Motivation
Introduction
Motivation is the most challenging and complex issue that researchers are attempting to answer and which is being faced by the people belonged in the working industry and part of it is the lecturers. The motivation is an interesting issue because it determines the extent of active, personal involvement and being centered in their everyday life (Menyhart, 2008). Motivation explains why people think and behave as they do, and motivation can be suitable as applied model for educating. In the study of motivation, the researchers sought different ways of approach in which the organizations might increase the motivation of their employees in working. And as part of the motivational approaches or practices, the firms use the various techniques like the training and development and most likely, through the use of incentives.
Motivation and Incentives
Most of the workforce in every type of industry is paid based on their performance. And in this scene, the leaders find some other techniques to increase the performance of their employees to give back the amount they paid for their personnel. Through the effort of motivation, the productivity is perceived to be enhanced (Ariely, et al., 2005). Motivation can be applied in different areas and profession and the success motivation among the employee often leads to the organizational performance. For some, motivation is a solution while for others, it is a kind of technique to manipulate, but there are many books, guides, checklists and recommendations that focus in the area of motivation (Schultz-Gambard, Brodbeck, and Winkler, 2009). Motivation can be applied in all aspects of life and activities. In an organization, there are two kinds of popular motivational approach that might be exerted right from the organizational leader. First is through the financial rewards or incentives and the other can be defined as the personnel’s willingness to exert and maintain an effort to achieve the organizational goals (Mathauer and Imhoff, 2004). It is determined that the key effectiveness of an employee can be measured on how well the organization takes care of the workforce. In addition, every leader is targeting the job satisfaction for their employees to easily attach in their system about the idea of job commitment. But in financial institution, the two motivational factors might be implemented depending on how they approach to increase each of their staff’s performance.
Accordingly, the optimal motivation is called “rewards” that can also be the reason in the declination of a performance. The declination happens to the people who have a high expectation in their performance and the idea of giving incentives as motivation can be considered as two assumptions - increase the performance as well as increasing the motivation and effort; and increase in motivation and effort that will result in improvement in the performance. Many suggested that motivation and its many sources may lead to pressure, competition, introduction of monetary rewards, presence of an audience, and ego-relevant threats (Ariely, et al., 2005).
Motivation targets the personal drive or enthusiasm to work. The employee performance is said to be the combination of motivation and obligation. For an instance, the educators both promote the communication and learning and there should be a balance atmosphere between his or her personal motive to teach and the audience’s motive to learn and it is very difficult to execute if the lecturer handles the big crowd of students (Menyhart, 2008). The use of extrinsic motivators such as clear expectations, feedback, and rewards are widely recognized by the organizations which dramatically leaves increase in the employee’s performance (Aung, 2001; Menyhart, 2008).
Job Satisfaction
Through the assessment, the use of motivational approach is related towards job satisfaction (SBFI, 2009). Organizational leaders and managers understand that there is a link between the satisfaction and motivation and if they did not win to collect the commitment of every employee, they are not effective leaders either. The problems within every organization are the lack of power to push the people to excel in their performance record and discover their other potentials.
Conclusion
For the past studies, it was already proven that eve in little ways, there is a relationship in the dimension of leadership styles, environmental factors, and motivation applied to work. However, most of the employees consider the importance of compensation, salaries/wages, benefits, allowances, or rewards to perform well in an organization. The idea of providing incentives is not bad, as long as the organization learn how to control all the resources in balance.
References:
Ariely, D., Gneezy, U., Loewenstein, G., & Mazar, N., (2005) Large Stakes and Big Mistakes, Research Center for Behavioral Economics and Decision-Making, Vol. 11 [Online] Available at: http://www.bos.frb.org/economic/wp/wp2005/wp0511.pdf [Accessed 23 November 2010].
Aung, C., (2001) The Relationship Between Work Motivation and Leadership Style: An Application of the Path-Goal Theory n Lecturers in the ABAC School of Management [Online] Available at: www.riau.au.edu/abstracts/49.doc [Accessed 23 November 2010].
Mathauer, I., & Imhoff, I., (2004) Staff Motivation in Africa: The Impact of Non-Financial Incentives and Quality Management Tools, A Way to Retain Staff? [Online] Available at: http://www2.gtz.de/migration-and-development/download/mathauer.pdf [Accessed 23 November 2010].
Menyhart, A., (2008) Teachers or Lecturers? The Motivational Profile of University Teachers of English, Working Papers in Language Pedagogy (WoPaLP), Vol. 2. [Online] Available at: http://langped.elte.hu/W2Menyhart.pdf [Accessed 23 November 2010].
SBFI, (2009) State Board of Financial Institutions Annual Accountability Report – FY 2008-2009 [Online] Available at: http://www.scstatehouse.gov/reports/aar2009/r23.pdf [Accessed 23 November 2010].
Schultz-Gambard, J., Brodbeck, F., & Winkler, M., (2009) What You Can Learn From Psychology About Work and Employee Motivation! Ludwig-Maximilians-University Munich [Online] Available at: http://www.psy.lmu.de/wirtschaftspsychologie/personen/wiss_ma/winkler_martin/motivation_venedig.pdf [Accessed 23 November 2010].
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