Money as a Motivior

In: Business and Management

Submitted By waynoz05
Words 1761
Pages 8
Contents Is money a motivator? 2 Maslow’s Hierarchy of Needs 2 Path-Goal Framework 3 Herzberg’s Motivation-Hygiene Theory 3 Conclusion 4 Question two 5 2.1 Traits 5 Behavioural 5 Contingency 5 2.2 6 Question Three 7

Is money a motivator?
Money is a topic that is talked, argued and even dreamt about. It consumes our energy both physically and emotionally. Even Joel Gray in his song proclaims that “money makes the world go round”. It is important we all know that (Mitchell & Mickel, 1999). We find in society as a whole many of us want more money, therefore as employees we are fascinated with obtaining more money so it comes as no surprise when it is said that money is a motivator but in the past we didn’t have much money and therefore people were eager to work hard to achieve bigger salaries, whereas these days most people are paid well and it therefore becomes hard to motivate them (Wyld, 2011). In this essay I will show that there are other ways of motivating people.
A current survey of employed workers shows that although money can motivate it is not a top motivator. The survey showed that intangibles such as recognition, involvement, challenge, pride, communication, meaningful work, and opportunity for growth are more powerful employee motivators. This is in no way saying that money does not motivate because it does to a point. The strength to which it motivates will depend on the individual. For example an unemployed person or someone with bills to pay or someone with children going to school will be more aware of monetary needs whereas an employed person once able to meet their monthly expenses will see money as a way of keeping score of what they have achieved (Half, 2010). This leads to one of the many theories that would be discussed which is Maslow’s Hierarchy of Needs. The others are the Path-Goal Framework and Herzberg’s…...

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