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2.5 MOTIVATION AND REWARDS

Department of Economics and Business DCS. 2.5 MOTIVATION AND REWARDS. Motivation is the thing which makes you do something . Eg I am hungry-this motivates me to eat. Motivation in terms of workers is what makes someone work (harder). The Role of Motivation in Achieving Objectives.

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2.5 MOTIVATION AND REWARDS

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  1. Department of Economics and Business DCS 2.5 MOTIVATION AND REWARDS

  2. Motivation is the thing which makes you do something. Eg I am hungry-this motivates me to eat. Motivation in terms of workers is what makes someone work (harder)

  3. The Role of Motivation in Achieving Objectives Motivation and Ability Equals Performance NB Performance in a job is also a function of ability level (so training is important) as well as motivation.

  4. The Role of Motivation in Achieving Objectives Consequences of a Poorly Motivated Workforce People have needs / goals that motivate them to work hard. If not satisfied then frustration results in:

  5. The Role of Motivation in Achieving Objectives Consequences of a Poorly Motivated Workforce • Lateness, absence, sickness, high labour turnover. • Poor quality work, low output. High level of customer complaints • Unwillingness to take responsibility.

  6. The Role of Motivation in Achieving Objectives Consequences of a Poorly Motivated Workforce • Quarrels with colleagues. • Disputes with management. • Accidents. • Damage to equipment or property.

  7. The Role of Motivation in Achieving Objectives Consequences of a Poorly Motivated Workforce Can lead to: • increased costs • loss of sales • reduced profits due to waste or inefficiency.

  8. The Role of Motivation in Achieving Objectives Benefits of a Well-Motivated Workforce • Higher labour productivity levels, reduced labour cost per unit. • Improved quality, enhanced reputation, lower level of defects. • Lower labour turnover and associated costs. • Lower absenteeism, improved punctuality.

  9. The Role of Motivation in Achieving Objectives Benefits of a Well-Motivated Workforce • Greater willingness to contribute ideas – could lead to cost-saving,and bigger profits. • Greater desire to take on responsibility – saves costs, as less supervision is required. • Greater willingness to accept change.

  10. What Motivates a Human? Basic Assumptions Example Need: In order to survive bodies need warmth. Goal: Earn money to pay for heating / clothes.

  11. What Motivates a Human? Basic Assumptions Needs can be classified into two categories: • primary - physical, eg food, water, warmth, air, sleep. • secondary –social needs, eg love, esteem, achievement, power.

  12. What Motivates a Human? Basic Assumptions • A person has a need when he / she has not had a need met • Once need is felt they focus on a goal to satisfy it.

  13. What Motivates a Human? The Importance of Money as a Motivator Money a key reason why people go to work. Need it to pay for food, water, warmth to survive.

  14. What Motivates a Human? The Importance of Money as a Motivator Money used by organisations to reward people. Can help to motivate a person to work harder.

  15. What Motivates a Human? The Importance of Money as a Motivator But…often not the most important motivator.

  16. What Motivates a Human? Other Reasons Why People Work • Gets people out of the house / provides meaning and structure to the day. • Provides an opportunity to socialise, interact with others.

  17. What Motivates a Human? Other Reasons Why People Work • Provides an opportunity to use / develop knowledge, skill. • Can provide a challenge, a sense of achievement, increase power and boost self esteem.

  18. What Motivates a Human? People’s needs are Different and May Change Example 18 year old school leaver may be more interested in: Earning enough money to pay for or rent his / her own flat. 40 year old manager, worked in same position for 10 years, already owns own house, may want:More challenging job, willing to take drop in salary to secure this.

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