MGHB02H3 Lecture Notes - Job Performance, Job Satisfaction, Job Sharing
Document Summary
Employers and managers underestimate the importance of pay as a motivator. Maslow and alderfer: pay should prove especially motivational to people with strong lower level needs o. Pay can also function to satisfy social, self-esteem and self-actualization needs. If you get a pay raise: gives you prestige, signals your competence as a worker and boss cares about you. Expectancy theory says: if pay can satisfy a variety of needs, it should be highly valent and it should be a good motivator to the extent that it is clearly tied to performance. Financial in incentives have been found to increase performance and lower turnover. Research: money is the most important and effective motivator = competitive advantage. In some cases, very difficult to measure the productivity of an individual because of the nature of the production process under these circumstance, group incentives are sometimes employed. Wage incentive plans: various systems that link pay to performance on production jobs.
