The paper "Employee Motivation and Reward" is a perfect example of business coursework. In recent years, employers have recognized that the success of a business is closely influenced by the motivation and professional capacity of their workforces. Accordingly, companies are faced with the challenge of increasing the level of employee commitment, job satisfaction and motivation (Greene, 2001). In this regard, it is important for companies to take into consideration the impact of employee needs, morale and expectations and to negotiate appropriate work arrangements for motivating employees as part of performance recognition. The following paper presents a discussion on the importance of employee motivation in the workplace.
The discussion is mainly based on literature review and points out that employee motivation is necessary for improved work performance. The paper has explored the important contributing played by work-life balance and financial incentives in improving employee motivation. The research indicates that the two factors foster loyalty by employees, increased performance and commitment, which are essential indications of motivation. The concept of Employee Motivation and Rewards According to Jenkins, Mitra, Gupta and Shaw (2001) employee motivation is an intrinsic drive and enthusiasm to successfully accomplish tasks related to work.
Greene (2001) has defined it as an internal drive which causes individuals to take initiatives in the workplace. In their article, Rynes, Schwab and Heneman (2001) have noted that employees understand that they need to provide a work environment which creates consistent motivation. However, managers fail to understand the significance of motivation in accomplishing organizational goals and objectives. Even when they understand the importance of motivation, they lack the necessary skills and knowledge to create an enabling environment, which fosters employee motivation and satisfaction. According to Greene (2001) besides the moral benefits of the altruistic approach to treating employees as human beings and respecting their dignity in all forms, motivating employees makes them more productive, innovative and royal.
Jenkins, Mitra, Gupta and Shaw (2001) have concurred with this argument and have explained that extrinsic forms of employee motivation such as good compensation and rewards are key to performance improvement. Essentially, the trick for getting the best out of employees is for the management to figure out how to inspire motivation at the workplace.
To create a work atmosphere in which employees are motivated requires an evaluation of intrinsically satisfying and extrinsically encouraging factors. Rynes, Schwab and Heneman (2001) have explained that improved organizational performance is a product of two actors: ability and motivation. Ability is in turn influenced by various factors which include education, experience, training and its continuous improvement. Unlike motivation which is achieved rapidly, ability takes a long time to achieve. Well-motivated employees are needed in the rapidly changing, competition-paced workplaces. Such employees are an essential requirement for organizations to compete effectively for the future.
For an organization to be productive in the long run, managers need to understand the factors that motivate employees within the context of the roles they perform in an organization and the desired objectives. Greene (2001) has reckoned in his article that of all the functions that managers perform, motivating employees is the most challenging and complex because employee needs and expectations, as well as, performance expectations change continuously. For instance, as employees income levels increase or the cost of living come down, compensation becomes less important as a motivator.