Money 'not only motivator'
Monday, 29 June 2009
It is a myth that employee motivation rests solely on monetary factors, an expert has claimed.
Writing on entrepreneur.com, president of Javitch Associates David Javitch pointed out that previous studies have suggested the motivational benefit from a cash reward is short-lived.
He explained: "It's the recognition and status that are the true motivators for the increased output."
The expert recommended that bosses develop a culture which allows their workers to feel a sense of accomplishment, saying employees like opportunities for job enrichment, enlargement and growth.
In addition, Mr Javitch wrote that another common mistake made by managers is thinking that keeping workers happy is enough to motivate them, although he suggested this does not translate into increased productivity.
He also recommended that bosses take time to thank their employees for their hard work, make staff feel that their contribution is meaningful and give them an appropriate degree of autonomy.
Tom Hadley, director of external relations at the Recruitment and Employment Confederation, recently claimed that firms are looking for new ways to motivate their workers during the recession.