Reflecting on the Human Resource practices explored in the lecture, the professors proposed a question that left me thinking. What motivates you right now? What will motivate you when you are 40 years old? When you are retired? The easy answer for young adults, like myself, would be money. Like most others, I am a financially struggling university student. Saving money or earning money is very desirable and therefore, would be a major motivator. However, the later questions got me thinking. When I grow up and am more financially stable, will money still be my main motivator? If not, what would?
According to many blogs and articles, money is not the top motivator in a business. Edward Deci noted that people have three physiological needs: to feel independent and self-governing, to feel capable and skilled and to have good interpersonal relationships with others. Money does not fit in with any of these needs. Money may be what initially attracts people’s attention, but it doesn’t do a good job keeping it. There must be other factors out there that maximizes employees motivation and thus, increasing satisfaction and productivity for the long run.
Creating a sense of autonomy in the work place will intrinsically motivate employees. They will feel respected and more in control. Unlike money, an extrinsic motivator, having a reasonably autonomic work environment will make employees want to do their best, rather than having money be their “bait” to come to work. Also mentioned in the Entrepreneur Blog, simple statements of praise will motivate people. It’s inevitable. When someone compliments you on something, you cannot help but smile and feel good about yourself. You would want to do anything to receive that compliment again. Therefore, you are motivated to repeat that success and work harder. Finally, when people feel like their job has significance and a purpose, it will ultimately create greater job satisfaction and lead to greater motivation. Although money will ignite the spark, it will not keep the flame burning.
Blog Reference 1: http://blog.clarity.fm/how-money-can-hurt-employee-motivation/
Blog Reference 2: http://www.entrepreneur.com/blog/225041
Article Source 1: http://www.bbc.com/future/story/20120509-is-it-all-about-the-money/1
Article Source 2: http://www.forbes.com/2010/04/06/money-motivation-pay-leadership-managing-employees.html