HROD 317 Chapter Notes - Chapter 5: Profit Sharing, Job Satisfaction, Performance Appraisal
18 Oct 2016
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Chapter 5 motivation in action: the role of money. Money is probably the most emotionally meaningful object, only food and sex compete. Survey shows ~46% of canadian employees feel they are underpaid. Many theories give vague ideas about how money relate to individual satisfaction. Generally, just money is not enough to be satisfied. Money is not the sole motivator for generation y and baby boomers. Some studied suggest that there are personality traits and demographic factors that correlate with an attitude towards money (who highly value money score high on sensation seeking, competitiveness, materialism, and control ) Men seem to value money more; women value recognition for doing a good job. Even though pay is not the only motivator, paying to keep top talent is often underestimated. To understand how to pay employees four major strategic rewards decisions need to be made: what to pay, how to pay, what benefits to offer, and how to construct employee recognition programs.
