Is pay an effective motivator for performance?

Solutions

Expert Solution

Money is said to be an effective motivator for performance. If appropriate payment is made to individuals they will be very efficient in their works. The workers feel that their effort is valued when appropriate payment is made to them. The compensation should be given in accordance with the performance and extra payment should be given to those who perform much better.

Money is considered as the basic motive of very individual to perform effectively. Thus It helps to increase the sincerely of employees to the work done. It also helps to increase the overall image of the organization. Pay increases the overall standard of living and productivity of workers. It increases the competition and team spirit in between workers. There are several tools used to motivate the employees. But among all those financial incentives is most powerful to improve the performance of employees.

Rahul Sunny answered 1 year ago

Next > < Previous

Related Solutions

Pay as a Motivator Identify the part of each theory that pertains to pay and provide...

Pay as a Motivator Identify the part of each theory that pertains to pay and provide an example that explains how pay motivates according to that theory. (Pay may not be part of every theory. If it’s not, then explicitly state that this theory does not pertain to pay or explain how pay is a motivator.) Part of the Theory Example Learning Theories Operant Conditioning Positive Reinforcement Punishment Do your job and you’ll get paid. If you don’t do your...

Question 1. If, as Frederick Herzberg claims, money is not an effective motivator, why do so...

Question 1. If, as Frederick Herzberg claims, money is not an effective motivator, why do so many organisations rely on pay to motivate employees? Question 2. In their work on power in organizations, John French and Bertram Raven propose five ‘bases of social power’. With reference to examples, discuss these five bases and explain how they might be seen in organizations. Question 3. According to Robert Michels, “Who says organization, says oligarchy”. With reference to theory and examples, explain the...

evaluate the case for and against using pay as a motivator please write range 400-1,000 words....

evaluate the case for and against using pay as a motivator please write range 400-1,000 words. thank you

ROLE OF EFFECTIVE MANAGEMENT IN PROFIT PERFORMANCE OF AN ORGANIZATION

Performance Management: Determine the elements of an effective performance management system, and explain how well the...

Performance Management: Determine the elements of an effective performance management system, and explain how well the employer’s system meets organizational needs.

Pay-for-Performance Link. Discuss how to strengthen the pay-for-performance link. A. Powerful incentives can cause undesired behaviors....

Pay-for-Performance Link. Discuss how to strengthen the pay-for-performance link. A. Powerful incentives can cause undesired behaviors. Suggest ways to solve this problem, using something you know a great deal about – academic performance. B. How would you design a pay-performance system that uses powerful incentives to motivate behavior, yet keep the behavior from veering into the unethical? (Hint: You want to keep the powerful incentive effect of pay. So don’t recommend eliminating incentive pay or reducing the size of the...

Merit pay, performance pay, knowledge- and skill-based pay -- they are all making news as alternatives...

Merit pay, performance pay, knowledge- and skill-based pay -- they are all making news as alternatives or supplements to the traditional teacher step system. But what do they mean for teachers? Education World talked with educators and analysts about these three trends in teacher pay. Included: How do these pay-for-performance/skills systems work? For decades, teachers have climbed, step by step, up the traditional pay ladder, automatically earning salary increases based on their education level and years of service. Around the...

Discuss issues related to performance based pay for executives.

Regarding Managing human resources What comprises effective performance management? What is the difference between performance appraisal...

Regarding Managing human resources What comprises effective performance management? What is the difference between performance appraisal and performance management? Must be 250 words Please make copy paste available

The most effective method of evaluating financial performance of a firm is to compare the financial...

The most effective method of evaluating financial performance of a firm is to compare the financial ratios of a firm to what? To key economic indicators To the firm's prior year ratios and to other firms which have a similiar business model To firms within the same location (i.e. country of corporation) To the original shareholder's opinions of the firm

Subjects