MOTIVATION & ITS THEORIES

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MOTIVATIONAL FACTORS
There are several factors that motivate a person to work. The motivational factors can be broadly divided into two groups:

I. MONETARY FACTORS:
Salaries or wages:
Salaries or wages is one of the most important motivational factors. Reasonable salaries must be paid on time. While fixing salaries the organization must consider such as :
• Cost of living
• Company ability to pay
• Capability of company to pay etc,

Bonus:
It refers to extra payment to employee over and above salary given as an incentive. The employees must be given adequate rate of bonus.

Incentives:
The organization may also provide additional incentives such as medical allowance, educational allowance, hra ,allowance, etc.
Special individual incentives:
The company may provide special individual incentives. Such incentives are to be given to deserving employees for giving valuable suggestions.

II. NON MONETARY FACTORS:
Status or job title:
By providing a higher status or designations the employee must be motivated. Employees prefer and proud of higher designations.
Appreciation and recognition:
Employees must be appreciated for their services. The praise should not come from immediate superior but also from higher authorities.
Delegation of authority:
Delegation of authority motivates a subordinate to perform the tasks with dedication and commitment. When authority is delegated, the subordinate knows that his superior has placed faith and trust in him.
Working conditions :
Provision for better working conditions such as air-conditioned rooms, proper plant layout, proper sanitation, equipment, machines etc, motivates the employees.
Job security:
Guarantee of job security or lack of fear dismissal, etc can also be a good way to motivate the employees. Employees who are kept temporarily for a long time may be frustrated and may leave the organization.
Job enrichment:
Job enrichment involves more challenging tasks and responsibilities. For instance an executive who is involved in preparing and presenting reports of performance, may also asked to frame plans.
Workers participation:
Inviting the employee to be a member of quality circle, or a committee, or some other form of employee participation can also motivate the work-force.
Cordial relations: Good and healthy relations must exist throughout the organization. This would definitely motivates the employees.