A special single payment for achieving a target.
Profit sharing A percentage of the company’s profit is shared amongst the workers. Usual payments systems Sauce: www.revision-notes.
co.uk Non financial motivators Most people work to satisfy needs of one kind or another. Non financial motivators are things other than money that motivate people to work. Maslow (1943) developed his hierarchy of needs (see figure 1.1) based on research about what motivates people to work.In a hierarchy the things at the top are more important than those at the bottom. A factor, which managers should pay attention to, is that every person has different needs.
So in order to achieve good motivation, it is very important for managers to find every employee’s needs. This is generally shown in how lack of motivation causes reduced effort and lack of commitment. Then how to motivate your staff for managers with these non financial motivators?Firstly, you can consider the work of Herzburg and his theory on “job enrichment” (Herzburg,1966). If jobs are narrow, fragmented and restrictive, it is possible to redesign work to make them more interesting. Secondly, you also can involve all of your people in discussions to meet these different needs so that they feel recognised and wanted. Thirdly, from the goal-setting theory (Locke et al.,1981), you can discuss targets and goals together and then give the employee something to work towards.
But a factor that is easily ignored when the target is setting is that people only achieve the goals that they think they are realistic(John Clark,2002).ConclusionAlthough motivation is an essential, a firm cannot succeed alone on this. There are still many other factors which are necessary for a successful and wealthy organisation, such as capital for purchasing resources, machinery, good product for selling to make profit and surviving, customers, and market etc. To be concluded, the key point of a successful organisation is a motivated workforce, however it is only one important aspect of a successful organisation, not all.Reference:A S Hornby,2000, Oxford Advanced Learner’s Dictionary of Current English, 6th edition, Oxford University Press, LodonAndrzej Huczynski; David Buchanan, 2001, Organizational Behaviour, 4th edition, Prentice Hall Europe, LondonJohn Arnold, 1998,Work Psychology,3rd edition, Financial Times Professional Limited, EdinburghMood and Emotions While Working: Missing Pieces of Job Satisfaction.
Weiss, H., ; Nicholas, J., ; Daus, C, 1999, Journal of Organizational Behavior, 21 185-202 .Venkatesh,V.; Speier, C.1999,A Study of the Relationship Between Compensation Package, Work Motivation and Job Satisfaction.
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