How Can Money-Based Rewards Drive Employees To Be Successful?

772 Words 4 Pages
There is a growing acceptance that recognizes the importance of self-motivation among employees. Money rewards have been the instrumental in our understanding of facilitating employees. What is known about monetary rewards is largely based upon empirical studies that investigate how money-based rewards can drive employees to be successful. The relative importance of non-financial factors has been subject to considerable discussion. This paper will argue that extrinsic and intrinsic elements such as monetary incentives, strong leadership, and satisfactory job are both equally crucial to motivating workers.
In a business environment, employees motivation is determined by the fulfillment of workers personal needs effectively with financial rewards. In 1943, Abraham Maslow
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Employees would be more active in the workplace if the sense of meaning in their work had been established.(Guillen, Ferrero, & Hoffman, 2014). As Guillen, Ferrero, and Hoffman (2014) state that the intrinsic motivations refer to something received internally, while the agent is acting or doing something, which causes the pleasure or satisfaction. According to Maslow theory, upper needs such as self-esteem and social interpersonal relationships can be classified into ‘pleasant good’ category which entices workers by creating a sense of enjoyment.
Additionally, the satisfaction might achieve if there are a well organizational framework, good working conditions, and guaranteed job security.(Saari & Judge, 2004).The study of the relationship between job satisfaction and job performance has a positive correlation. In the study of the relationship, Saari and Judge (2004) state that a numbers of research have shown if the satisfaction of workers is higher, the performance of the organization as well. Clearly, not only money incentive and leadership but also the occupational satisfaction is evenly

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