...Compensation and Motivation Compesation and Motivation A. Vega Dr. B Smith In the 1960’s, Abraham Maslow and Frederick Hersberg claimed that compensation did not motivate, bur rather dissatisfied. If we define their use of the word compensation to include only base compensation, then findings still show true today. The best motivator is the work itself, but other forms of compensation such as profit sharing, health benefits, bonuses, stock options, and deferred compensation would come second to that. (Winning, Incentive Compensation and Motivation). With the current economy, many are more motivated by job security over compensation, but at the same time, compensation is the security with all the job losses, and therefore serves as a motivator. With that said, what compensation actually represents can be the motivator. Incentive compensation programs involve a baseline for what needs to be done on the job along with productivity measurement. Incentives are given to those who go above and beyond the requirements of the job and are able to either produce more, or show that they have worked harder than what is expected of that position. Because compensation is not as cut and dry as it once was, employers must consider other forms of compensation or incentive compensation to compete for skilled employees. An article I found on Inc.com states that “To recruit, retain, and motivate the best employees, you need to understand compensation and reward plans and...
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...My Company Sara James BUS/322 April 18, 2012 Dr. Nicholas Target Things is a mobile training and safety instruction company; it will utilize the DART Targeting System, a computerized range system incorporating the latest in technology and graphics. It is a 3-D range, which can be used for archery or other weapons type training. This convenient, compact and very affordable Dart digital shooting system comes in three portable cases that can be easily transported in a mid-sized vehicle. One case holds the electronic equipment, other firearms, and the third case holds the screen/frame. Target Things will specialize in the techniques needed to become proficient with all types of archery and firearm equipment. Also, we will become firearms and archery National certified safety instructors. The electronic equipment package is enclosed in a quick set-up console that sits on the floor. The system comes with your choice of two Dart modified firearms also, over 1000 wildlife scenarios. As a secondary specialty, we will also offer instruction in gun safety and proficiency and National Bow-hunter safety education course, which are required to hunt all big game animals in North Carolina and many other states with archery equipment. Target Things is intended to be a one-stop mobile target range designed to meet the archery and firearms needs of the local community and beyond. It will specialize in personal and family instructional training for the archery and firearm enthusiast while...
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...Analysis Issue and Opportunity Identification Recently the sales of Riordan manufacturing are declining which might be one of the reasons for the dissatisfaction amongst the stakeholder groups. The shareholders wants the highest return of their investment, managers want increased sales to earn more bonuses, and the employees want increased pay, more rewards, and higher job satisfaction. There are issues on the, employees are not satisfied with their job and the compensation that can be earned. This decline in satisfaction is shown in the employees’ behavior and leads to low morale, lower motivation, lower production activity and increased turnover. There are three key factors that explain this behavior: ability, motivation, and opportunity. (Dougherty & Dreher, 2001) Managers are worried that they will lose their key-employees and management needs to motivate the key engineers to prevent them leaving the organization. Organizational environments and individual characteristics must be simultaneously taken into account in attempts to predict, explain, or modify employee behavior. (Dougherty & Dreher, 2001) the task demands and reward systems are a tool to influence employees’ behavior, the employees are demanding for increased rewards...
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...Motivating People in the Workplace Name: Paul Bolton Company: Baxter Healthcare Date: 18th May 2014 TASK The purpose of this unit is to be able to examine how levels of motivation can be improved to increase performance in the workplace. The nominal word count for this assignment is 2000 words: The suggested range is between 1500 and 2500 words, however individuals have different writing styles, and there is no penalty if the word-count range is exceeded. Check your assignment carefully prior to submission using the assessment criteria and marking sheet. Understand the factors that may affect performance and motivation in the work place “Evaluate two or more theories of motivation that are clearly relevant to your workplace to provide a conclusion or recommendations, and evaluate the principal factors that may affect performance and motivation in the workplace to provide a conclusion or recommendations.” • 1. Evaluate theories of motivation relevant to your workplace (28 marks) Motivation is vital for Baxter Healthcare as it’s the people in the organization than drive productivity and create success. If employees lose interest, the business does not perform because efficiency suffers particularly in a sales company. The following two motivation theories particularly resonate within the Sales and Marketing environment of Baxter. Maslow’s Model says employees have a hierarchy of needs and seek fulfillment from meaningful work. Herzberg...
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...Workplace Motivation Paper Teressa Y. Wright PSY/320 July 7, 2012 Angel J. Perkins Workplace Motivation Paper There are various sources of motivation; to clearly comprehend the force of motivation in the workforce we should scrutinize the feasible sources of motivation. Employees are commonly motivated with both inside and outside factors. Inside factors involve a persons own private thinking processes and experiences. The outside factors involve such things as organizational outlook, which motivates employees to become more fruitful through the exploit of rewards or by imbedding logic of fear into their employees. It is vital to comprehend that a member of staff who is naturally motivated can be significantly impacted by a peripheral setting that discourages employees to demonstrate elevated levels of enthusiasm. Department managers must be leaders and generate an encouraging managerial environment to persuade employees to be fruitful. While managers can implement output levels merely through means of the influence of their title, leaders search for affirmative motivators to persuade most favorable levels of output. Employees are usually more creative while working in an environment of admiration wherever leaders maintain the lines of communication open and keep employees knowledgeable of long-term goals relatively than merely controlling and managing employees on their daily actions. The key to managing output in the office is to administer behaviors relatively...
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...1. Introduction The key concepts underlying this research are job motivation strategies and job retention management. Motivation can be defined as: the force which gives the direction to perform a task; the will to achieve (Bedeian, 1993). Motivation is the force which drives the employees to achieve their personal and organizational goals. Higgins (1994) perceived job motivation as the internal drive to satisfy an unsatisfied need. Understanding the importance of the relationship between job motivation and employee retention makes it easier to manage the workforce in an organization. Each employee is a valuable asset in which the success of an organization is depended; therefore it is crucial to retain the employees by motivating them in their work environment. Nowadays people decide on staying with the organizations not only considering the monetary compensation and benefits, but also on how much they are inspired by their job. Therefore, at instances where the motivation level of an employee change there will be an impact on job retention. Since this research will be conducted in the field of human resources management relating to investigating and understand the relationship between job motivation and employee retention, job satisfaction can be considered as a key concept. In today’s highly competitive labor market employees are considered as the key factor which determines the organization's success despite of its financial and other resources....
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...Motivation in today's workplace: the link to performance. ABSTRACT In today's hyper-competitive marketplace, understanding what fosters and forwards employee motivation--and, thus, organizational performance--is critical. Based on theories, studies, best practices, case studies and resources about motivation, this solutions-focused research article presents valuable information for the senior HR leader seeking competitive advantage. ********** Introduction In today's marketplace, where companies seek a competitive edge, motivation is key for talent retention and performance. No matter the economic environment, the goal is to create a workplace that is engaging and motivating, where employees want to stay, grow and contribute their knowledge, experience and expertise. Motivation is generally defined as the psychological forces that determine the direction of a person's level of effort, as well as a person's persistence in the face of obstacles. The direction of a person's behavior refers to the many possible actions that a person could engage in, while persistence refers to whether, when faced with roadblocks and obstacles, an individual keeps trying or gives up. (1) The responsibility for motivation is three-fold: it falls on the senior leadership, the direct manager and the employee. Numerous factors are involved, from trust, engagement and values (individual and organizational) to job satisfaction, achievement, acknowledgement and rewards. Motivation...
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... 1. Motivations are the inner reasons or driving forces behind human actions as consumers are driven to address real needs. 2. Human motivations are oriented toward two key groups of behavior: steady-state and self-improvement. 3. Homeostasis refers to the fact that the body naturally reacts in a way so as to maintain a constant, normal bloodstream. 4. Self-improvement motivations drive behaviors aimed at changing one’s current state to a level that is more ideal. 5. Maslow’s hierarchy of needs describes consumers as addressing an infinite set of prioritized needs. 6. In Maslow’s hierarchy of needs, safety and security needs are basic needs for survival such as food and drink. 7. Esteem needs are needs for personal fulfillment. 8. Utilitarian motivation is a desire to acquire products that can be used to accomplish things. 9. Secondary motivation involves a desire to experience something personally gratifying. 10. Drinking soft drinks because one really likes the taste is driven by hedonic motivations. MKT 305 WK 4 QUIZ 3 CHAPTER 5 & 6 To purchase this visit here: http://www.activitymode.com/product/mkt-305-wk-4-quiz-3-chapter-5-6/ Contact us at: SUPPORT@ACTIVITYMODE.COM MKT 305 WK 4 QUIZ 3 CHAPTER 5 & 6 MKT 305 WK 4 Quiz 3 Chapter 5,6 TRUE/FALSE 1. Motivations are the inner reasons or driving forces behind human actions as consumers are driven to address real needs. 2. Human motivations are oriented...
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...Organisational Behaviour Queen’s Sport Staff Motivation Is Staff Motivation part of the Organisational Culture at Queen’s Sport? Do management of Queen’s Sport understand the factors which motivate their employees? By Frank McCusker January 2012 Table of Contents 1. Introduction and Literature Review 1. Introduction 2. Literature Review 2. Research into Staff Motivation at Queen’s Sport 1. Is there a culture of staff motivation within Queen’s Sport management? 2. Do employees recognise the importance staff motivation and do they believe there is a culture of staff motivation at Queen’s Sport? 3. What motivates Queen’s Sport employees to work? 4. Do management recognise the key motivating factors affecting their staff? 3. Results and Linked Theory 4. Conclusions 5. Bibliography 6. Appendices 1. Introduction and Literature Review 1.1 Introduction Ensuring staff are motivated is a fundamental objective of any organisation, and should be firmly cemented within the management culture of that organisation. Wiley (1997) points out that in order to improve productivity employers must understand what it is that motivates their employees. In today’s challenging economic climate organisations more than ever are being asked to perform...
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...LET1 TASK 317.1.1-06 LET1 Task 317.1.1-06 1. To understand the Expectancy Theory of motivation, you must first understand the three key components of this theory. The three key components are Expectancy probability, 1 Instrumentality probability, and Valence. To determine your motivational force, you must assign a value or level of importance to each of the three components. The first key component of the Expectancy Theory of motivation is Expectancy probability. In this component, you see the effort to performance relationship. You determine how hard you want to work on a project based on the level of performance or outcome desired. If you desire to meet the goals of a task (performance), you have to consider how much work (effort) is required. When more effort is invested into a project, better results are typically expected. However, in a situation where more effort invested does not yield better results, you could expect to see the employee put less value on this component. This is because they may not see the benefit in the extra effort. The second key component of the Expectancy Theory of motivation is Instrumentality probability. This involves the relationship between performance and reward. With this component, you associate how much effort you are willing to put into a project based on the expected benefit of accomplishing the goal. When an employee feels that he or she will get more benefit than other employees when they work harder, they feel they have an incentive...
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...Abstract This paper is going to research the motivation for the core talents in hotel industry. My research will include the present situation of rotational flow of hotel’s core talent, the core talent’s feature, the motivation management’s principles and several measures and suggestions. In my view, the importance of motivation for core talents is not only to retain the top talents of hotels, but also the way to stabilize the management team. In the modern hotel industry, the brain drain becomes one of the biggest problems which hotels need to face and solve. So, in my paper, you can find the analysis of situation, the ideas from the insiders, and I will give suggestions by my own at last. Introduction With the fast development of Chinese economy, the foreign hotel giants accelerate continuously enter into the China to expand the Chinese market. At the same time, the domestic star hotels spring up and start to divert the customer source, so the competition of capture the source of customer market becomes severely. Because of the rapid development of hotel industry, the vying for hotel’s top talent is increasing. In fact, the essence for hotel industry’s competition is talent competition, and the “talents war” has become a major strategic for the hotel industry’s competition. So, the hotel’s core talents retaining and stabilize management team appear essential important. How to suit the remedy to solve the problem should be the focal point, so first...
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...businesses and individuals to enable them to realize their financial goals. Their target markets include the following: •Businesses of more than 50 employees and/or $5 million in annual sales, particularly those in the medical/health, dental and lodging industries. •Growth oriented businesses that will benefit from the areas of pension and retirement planning specialization. •Individuals with a net worth of greater than $1.2 million. II. Problem Statement A. Focus : 1. Industry or economic downturns - At this time, the targeted industries are experiencing solid growth in our area. If industry growth does not occur, we will re-examine our select industries and/or activities and change our focus and direction. 2. Loss of key resources - Losing key individuals in the firm could result in lost accounts or lost areas of expertise. We need to review our "Stage 2" strategy if any person in the firm should not be able to perform their function. 3. Online tax services - Competition from any geographic location may emerge from online services conducted by larger and better funded firms. 4. Tax law changes - Simplification of tax laws is unlikely, but will demand that we would take a "big picture" assessment of the firm's position, due to the significant overhead commitments that we have made. B. Structure: 1. To realize an annual growth rate of 8.25% greater than the previous year. 2. To diversify our revenue stream through increased business consulting (non-tax related)...
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...Motivational Methods Motivation is the key element in a workplace and it is extremely important to know the theories, methods, and applications associated with motivation. Motivation is a necessary skill for future managers and leaders as it is used to motivate employees to work more efficiently. Researching the different motivation methods has brought the realization of just how important motivation is in the workplace. For most managers, motivating their employees is a key issue. In today’s work force, managers are inclined to pay special attention to their employees. They also pay attention to motivates them to perform at a higher level. Not every individual works in the same manner or needs the same motivation. This paper will look at the different characteristics of professional workers and lower-level contingent workers. Also addressed in this paper will be the different motivational approaches that are used by managers today towards these two groups. Finally, by applying a set of motivational theories, this paper will attempt to explain why managers should apply different methods to each of these groups. There are many questions facing managers about motivation; questions such as how does motivation work, when to apply motivation, and whom to apply motivation techniques to. Motivation reflects how innovative and productive jobs are achieved within work organizations. Because motivation influences productivity, supervisors need to understand what motivates employees...
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...Chapter 1 – Introduction Rewards, Motivation and Job Satisfaction are important and significant variables to the organization success as it is an employee’s attitude towards their job. The higher the job satisfaction, the more the employees will hold a positive attitude towards their jobs. Similarly, the organization will have low turnover rate and better in talent retention. (Sarwar & Abugre, 2013) Therefore, an organization’s strategy is linked to job satisfaction of the employees as it has direct impact on productivity and profitability. (Khalid, et al., 2011) In many organizations, employee turnover is a major issue because of the cost involved with new hiring and training. The purpose of this study is to find out the relationship between job satisfaction and employees performance in Gas Pte Ltd. (Sarwar & Abugre, 2013) Chapter 2 – Literature Review In the past, the organizations provide a permanent guarantee for the job and employees will in return give the organizations their loyalty and their best performance. However, this is a dream now which show that the job satisfaction in the organization has changed over the years. Employees are more educated and highly trained in skill. They are able to perform their duties based on their capabilities to achieve the goals of the organization. As a result now, organizations should recognize what are the needs to motivate their employees to deliver their best to the organizations. (Zaidi & Abbas, 2011) ...
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...Chapter 1 – Introduction Rewards, Motivation and Job Satisfaction are important and significant variables to the organization success as it is an employee’s attitude towards their job. The higher the job satisfaction, the more the employees will hold a positive attitude towards their jobs. Similarly, the organization will have low turnover rate and better in talent retention. (Sarwar & Abugre, 2013) Therefore, an organization’s strategy is linked to job satisfaction of the employees as it has direct impact on productivity and profitability. (Khalid, et al., 2011) In many organizations, employee turnover is a major issue because of the cost involved with new hiring and training. The purpose of this study is to find out the relationship between job satisfaction and employees performance in Gas Pte Ltd. (Sarwar & Abugre, 2013) Chapter 2 – Literature Review In the past, the organizations provide a permanent guarantee for the job and employees will in return give the organizations their loyalty and their best performance. However, this is a dream now which show that the job satisfaction in the organization has changed over the years. Employees are more educated and highly trained in skill. They are able to perform their duties based on their capabilities to achieve the goals of the organization. As a result now, organizations should recognize what are the needs to motivate their employees to deliver their best to the organizations. (Zaidi & Abbas, 2011) ...
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