Motivation
1) Various managerial techniques used to motivate people
Motivation is the act of stimulating someone or oneself to get a desired course of action, to push the right button to get a desired result. Motivation has been shown to have roots in physiological, behavioral, cognitive, and social areas.
Various managerial techniques used to motivate people
A) Monetary or financial incentives
Monetary incentives are offered in terms of money. Such incentives provide more cash or purchasing power to employees. Monetary incentives are extremely attractive to employees (particularly those working at lower levels) as they get the benefit quickly and in concrete terms. At the higher levels of management, non-monetary incentives are more important than monetary incentives.
Workers prefer monetary incentives as compared to non-monetary incentives. Managements also offer liberal monetary incentives to all categories of workers. Those incentives which satisfy the subordinates by providing them rewards in terms of rupees are monetary incentives. Money has been recognized as a chief source of satisfying the needs of people. Money is also helpful to satisfy the social needs by possessing various material items. Therefore, money not only satisfies psychological needs but also the security and social needs. Therefore, in many factories, various wage plans and bonus schemes are introduced to motivate and stimulate the people to work.
Monetary incentives are:
• Attractive salary/wages and allowances
• High rate of bonus
• Liberal monetary incentives
• Allowances such as over time allowance, medical allowance, house rent, leave travel allowance, education and recreational allowances etc
• Special incentives
B) Non monetary factors/ incentives
• Job security and job enrichment
Job security is useful for the motivation of employees. Such security keeps the employee away from the tension
Motivation is the act of stimulating someone or oneself to get a desired course of action, to push the right button to get a desired result. Motivation has been shown to have roots in physiological, behavioral, cognitive, and social areas.
Various managerial techniques used to motivate people
A) Monetary or financial incentives
Monetary incentives are offered in terms of money. Such incentives provide more cash or purchasing power to employees. Monetary incentives are extremely attractive to employees (particularly those working at lower levels) as they get the benefit quickly and in concrete terms. At the higher levels of management, non-monetary incentives are more important than monetary incentives.
Workers prefer monetary incentives as compared to non-monetary incentives. Managements also offer liberal monetary incentives to all categories of workers. Those incentives which satisfy the subordinates by providing them rewards in terms of rupees are monetary incentives. Money has been recognized as a chief source of satisfying the needs of people. Money is also helpful to satisfy the social needs by possessing various material items. Therefore, money not only satisfies psychological needs but also the security and social needs. Therefore, in many factories, various wage plans and bonus schemes are introduced to motivate and stimulate the people to work.
Monetary incentives are:
• Attractive salary/wages and allowances
• High rate of bonus
• Liberal monetary incentives
• Allowances such as over time allowance, medical allowance, house rent, leave travel allowance, education and recreational allowances etc
• Special incentives
B) Non monetary factors/ incentives
• Job security and job enrichment
Job security is useful for the motivation of employees. Such security keeps the employee away from the tension