The paper "Is Money the Most Important Motivator For Employees" is a great example of management coursework. There can be little doubt that workers expect to be paid for their services. While many employees seek satisfaction from various avenues at their workplace, they nevertheless expect to receive adequate monetary compensation. One may try to dispel the concept that money is a motivator for an employee(s) by presenting other desires the employee may have such as comfort level, ideal social conditions, a “ good fit” for the task at hand, and so on. Although these can be motivating factors, they are all secondary to the primary motivating factor, money. This paper will be a show that money is truly the motivating factor for employees.
Moreover, all other motivational forces experienced by employees will be explored and ultimately dismissed as secondary to financial gain. First, a bit of geography. It is critical that the issue of cultural differences be addressed here. For instance, in Russia, there is a strong aversion to money (even though Russia is now a democratic-capitalist society). There is in an inherent difference between Eastern Christianity and Western Christianity.
The greatest difference is that it appears that Russian Orthodoxy does not favor “ earthly” things or any activities that include life on earth. Rather, they are concerned with their religious beliefs and the hereafter. Moreover, they view money as the root of all evil and regard it with the potential to enslave man. (Dinello, Natalia, 1998, p. 47) Although since the early 90’ s the Russian government has adopted Western political as well as business ideals and practices, it is entirely possible that much of their population has remained to adhere to their traditional Eastern Orthodoxy.
With the risk of stating the obvious, Russian employees will not be considered here. Nevertheless, money means many things to many people throughout the majority of the world. The history of money is that of convenience to enable trading (Mitchell, Terrence, R., Mickel, Amy, E., 1999, p. 569). Furnham and Argyle examine the psychology of money in their book The Psychology of Money (Mitchell, Terrence, R., Mickel, Amy, E., 1999, p. 568) and explain that money are in fact used to obtain “ things” and it is further used to gauge their value.
In other words, if something costs one pound, and something else costs 10 pounds, then one immediately places greater value on the latter. Although it could be argued that various people have various attitudes regarding money, great importance is placed on money by most which stem from this simple concept of money indicating value, as well as the need of it to acquire such things. Furnham and Argyle continue in their book to demonstrate the relevance of money to people through experiment.
Their studies established a positive correlation of. 25 (which is indeed an accepted, significant correlation) between one’ s happiness and their financial status. Their studies did not discriminate between age, race, gender etc. (Mitchell, Terrence, R., Mickel, Amy, E., 1999, p. 569) demonstrating that there is no doubt money is a powerful, social motivator. Interestingly, psychologists have studied people’ s perspectives on money extensively. And have additionally studied the various effects money has on individuals throughout their lifespan. Conversely, economists have certainly studied money, but from an antiseptic vantage point.
Therefore, their studies, findings, etc. are concerned with the absolute value of money and not how humans perceive it. It has been professionally established that money affects individuals on many levels ranging from being the root of mood disorders to ultimately determining one’ s self-worth (Mitchell, Terrence, R., Mickel, Amy, E., 1999, p. 569).