MotivationMotivation refers to the inner desire or passion to do something
Rewards:
1. Financial rewards
- Piece rate pay
- Performance
- Co-mission
- Profit share
- Fringe benefits-pay more money
2. Non Financial
- Job enlargement
- Job rotation
- Team work
- Empowerment
- Job enrichment-better on your own job
Maslow hierarchy of needs
Diagram shows the Maslow hierarchy of needs
Herzberg:
Motivators & Hygiene factors
Motivators: (cause of satisfaction)
- Achievement
- Advancement
- Interesting tasks
- Opportunities for promotion
- Personal growth
- Recognition
- Responsibility
- Work itself
Hygiene factors: (causes of dissatisfaction)
- Company policy , rules and regulation
- Relationships with peers, subordinates and supervisor
- Salary and wages
- Security
- Status
- Supervisor and coordination
- Working condition-make worker or people unhappy
Opinion
In my opinion, Apple Corporation is considered the most innovative and admired company
in the world (BusinessWeek, 2009; Fortune, 2009). Over the years, they have managed to attract and retain its employees thanks to the benefits, or expected and non-performance related incentives, it offers, such as product discounts or insurances (Apple, 2010). But even more important is its outstanding creative culture. Steve Jobs, Apple’s CEO, argues that the latter is the gravitational force that puts all the bright and creative people together (Burrows, 2004). Apple employees’ motivation is a key success factor and hence they need to be given incentives in order to foster creative thinking and sustain high motivation (Tidd and Bessant, 2009).
This is evident in the case of the Apple Corporation in US, Apple Store employees in the United States will be getting pay raises of up to 25 percent of their previous wages, based on performance. In addition, Apple CEO Tim Cook implemented a new discount system which began that week in 2011 July.Under this new program, Apple employees receive $500 off of a Mac or $250 off of an iPad. This discount, which can be used every three years, is available to all employees who have worked for the company for at least 90 days. Employees also receive a standard 25 percent discount on Apple hardware. I think that it is through a fair and square rewarding system that based entirely on meritocracy that helps Apple's employees to drive themselves forward to make their products more successful.
Under this new program, Apple employees receive $500 off of a Mac or $250 off of an iPad. This discount, which can be used every three years, is available to all employees who have worked for the company for at least 90 days. Employees also receive a standard 25 percent discount on Apple hardware. This i feel also gives motivation for new employees to work harder for the companies as the Apple has take the step of faith by rewarding them even before they have performed. In my opinion,I think that reward system is a crucial element in encouraging flexibility, increasing performance and competing for talent in competitive labor markets in the world
Personally, I feel that money should be secondary to affection for the company when it comes to motivation. I can earn a lot of money in a company but if i feel unhappy with my grumpy employer, it doesn't mean anything at all to my sense of achievements. And yes, I do agree that money is important element for employees motivation as we have to make a living for ourselves to support our beloved family. In order to get more out of employees, we have to look at their psychological needs of employees which i feel that recognition of employees contribution plays an important part as we humans have a deep need for others to think highly of us especially when we do contribute genuinely. I think that through appropriate recognition and giving the due credits to employees, it will also drive them to go extra miles for their employer.
2) BusinessWeek (2009) The 50 Most Innovative Companies. 26th September 2013
Available at: http://bwnt.businessweek.com/interactive_reports/innovative_50_2009/
3) Burrows P. (2004) ‘The Seed of Apple’s Innovation’, BusinessWeek [Online]. 25th September 2013 from
http://www.businessweek.com/bwdaily/dnflash/oct2004/nf20041012_4018_PG2_db08
3.htm
4) Juli.Ipad Gadget.Apple Rewards Employees with Raises and Better iPad and Mac Discount Program. 28th Sepember 2013. from http://www.padgadget.com/2012/06/21/apple-rewards-employees-with-raises-and-better-ipad-and-mac-discount-program/
5) Tidd J., Bessant J. (2009) Managing Innovation. 4th edn. West Sussex: John Wiley & Sons Ltd. 27th September 2013
in the world (BusinessWeek, 2009; Fortune, 2009). Over the years, they have managed to attract and retain its employees thanks to the benefits, or expected and non-performance related incentives, it offers, such as product discounts or insurances (Apple, 2010). But even more important is its outstanding creative culture. Steve Jobs, Apple’s CEO, argues that the latter is the gravitational force that puts all the bright and creative people together (Burrows, 2004). Apple employees’ motivation is a key success factor and hence they need to be given incentives in order to foster creative thinking and sustain high motivation (Tidd and Bessant, 2009).
This is evident in the case of the Apple Corporation in US, Apple Store employees in the United States will be getting pay raises of up to 25 percent of their previous wages, based on performance. In addition, Apple CEO Tim Cook implemented a new discount system which began that week in 2011 July.Under this new program, Apple employees receive $500 off of a Mac or $250 off of an iPad. This discount, which can be used every three years, is available to all employees who have worked for the company for at least 90 days. Employees also receive a standard 25 percent discount on Apple hardware. I think that it is through a fair and square rewarding system that based entirely on meritocracy that helps Apple's employees to drive themselves forward to make their products more successful.
Under this new program, Apple employees receive $500 off of a Mac or $250 off of an iPad. This discount, which can be used every three years, is available to all employees who have worked for the company for at least 90 days. Employees also receive a standard 25 percent discount on Apple hardware. This i feel also gives motivation for new employees to work harder for the companies as the Apple has take the step of faith by rewarding them even before they have performed. In my opinion,I think that reward system is a crucial element in encouraging flexibility, increasing performance and competing for talent in competitive labor markets in the world
Personally, I feel that money should be secondary to affection for the company when it comes to motivation. I can earn a lot of money in a company but if i feel unhappy with my grumpy employer, it doesn't mean anything at all to my sense of achievements. And yes, I do agree that money is important element for employees motivation as we have to make a living for ourselves to support our beloved family. In order to get more out of employees, we have to look at their psychological needs of employees which i feel that recognition of employees contribution plays an important part as we humans have a deep need for others to think highly of us especially when we do contribute genuinely. I think that through appropriate recognition and giving the due credits to employees, it will also drive them to go extra miles for their employer.
Bibliography
1) Apple (2010) All the benefits you’d expect. 28th September 2013 from http://www.apple.com/jobs/us/benefits.html2) BusinessWeek (2009) The 50 Most Innovative Companies. 26th September 2013
Available at: http://bwnt.businessweek.com/interactive_reports/innovative_50_2009/
3) Burrows P. (2004) ‘The Seed of Apple’s Innovation’, BusinessWeek [Online]. 25th September 2013 from
http://www.businessweek.com/bwdaily/dnflash/oct2004/nf20041012_4018_PG2_db08
3.htm
4) Juli.Ipad Gadget.Apple Rewards Employees with Raises and Better iPad and Mac Discount Program. 28th Sepember 2013. from http://www.padgadget.com/2012/06/21/apple-rewards-employees-with-raises-and-better-ipad-and-mac-discount-program/
5) Tidd J., Bessant J. (2009) Managing Innovation. 4th edn. West Sussex: John Wiley & Sons Ltd. 27th September 2013
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