Business Research Methods

Available ONLINE www.vsrdjournals.com

VSRD-IJBMR, Vol. 2 (2), 2012, 38-46

RESEARCH COMMUNICATION RESEARCH COMMUNICATION

Money : Does It Really Affect Hotel Employee’s Performance As A Motivational Factor !!!
1

Sunil Panwar* and 2Nitin Gupta

ABSTRACT
Money is the most obvious Motivational factor for starting level hotel employees, whether it is in the form of pay or some other kind of remuneration. Everyone wants to earn fair wages and salaries, and every employer wants their employees to feel that he is the best paymaster. Thus it can be said that employees and employers view money as the basic factor for job satisfaction. Employees can have different motivational factors; only money cannot motivate an employee to change his job or only money cannot give proper job satisfaction to the employees. In case of hotel employees’ hotel associates want more tangible rewards while the managers want job security, recognition by management and time for their family. Thus Money may or may not motivate people. Money serves as a highly tangible means of recognition. Though there are many reasons why people work for a living, it cannot deny that money, or other financial rewards, play a key role in motivating people in the workplace. Keywords : Financial Rewards, Hotel, Job Satisfaction, Money, Motivational Factors, Remuneration.

1. INTRODUCTION
The hotel industry is a significant part of the tourism industry world wide and its employees play a key role in delivering the service to customers. The motivation of employees, whether professional, skilled or unskilled, is a major issue in all service organizations. For the hotel industry, employee motivation is a major issue. It is a challenge for the hotel industry to motivate employees, to stay on the job, and to offer the efficient, good service which customers expect. The purpose of this study was to assess the role of money as a motivational factor for hotel employees.

____________________________ 1

References: 7.1. Books, Journals and Articles [1] Cheng, H., Assessing the Importance of Employee Motivation in the Hotel Industry in Taipei, Taiwan. Page 45 of 46 Sunil Panwar et. al / VSRD International Journal of Business & Management Research Vol. 2 (2), 2012 Unpublished master’s thesis, University of Wisconsin-Stout, Menomonie, Wisconsin, United States (1995). [2] Daan van Knippenberg, "Applied Psychology; '" Work Motivation and Performance: A Social Identity Perspective; July 2000 [3] Heneman, R. L. Merit pay: linking pay increases to performance Ratings. New York: Addison-Wesley. (1992). [4] Industry. East Lansing, MI: Educational Institute American Hotel & Motel Association [5] James L. Perry, Debra Mesch, and Laurie Paarlberg; "Public Administration Review;" Motivating Employees in a New Governance Era: The Performance Paradigm Revisited; July 2006 [6] Jerald, G. and Robert, A. B., Behavior in Organizations: Understanding and Managing the Human Side of Work, Upper Saddle River, NJ: Prentice-Hall, Inc. (1997). [7] Jerris, A. L. Human Resource Management for Hospitality. Upper Saddle River, NJ: Prentice-Hall, Inc. (1999). [8] Milkovich, G. T., & Wigdor, A. K. (Eds), Pay for performance: evaluating performance appraisal and merit pay. Washington, DC: National Academy Press. (1991). [9] Perry, J. L., Mesch, D., & Paarlberg, L. (2006). Motivating employees in a new governance era: The performance paradigm revisited. Public Administration Review, 66, 505-514. [10] Pooja Garg and Renu Rastogi, "Journal of Management Development;" New Model of Job Design: Motivating Employees ' Performance; September 2005 [11] Simons, T. and Enz, C., Motivating Hotel Employees. Quarterly, 36 (1), 20-27 (1995). [12] Tony Simons (Cornell 's School of Hotel Administration), Cathy A. Enz Motivating Hotel Employees Beyond the Carrot and the Stick [13] Wheelhouse, D. (1989). Managing Human Resources in the Hospitality Cornell Hotel and Restaurant administration 7.2. Websites [14] http://www.2020skills.com/asts/Money%20and%20Employee%20Motivation.pdf [15] http://www.aspanet.org/scriptcontent/custom/staticcontent/t2pdownloads/Perry Article.pdf) [16] http://www.ehow.com, How Does Motivation Influence Employee Performance? [17] http://www.ehow.com/info_8229456_motivational-factors-jobs. Motivational Factors in Our Jobs [18] http://www.PeopleBuilders.com [19] http://www.scribd.com/doc/21300913/Employee-Motivation-Project-Report [20] http://www.utor2u.net/business/gcse/people_motivation_financial_rewards.htm  Page 46 of 46