People's Motivator is Money

 Money makes the world go round, and nowhere is this more true than in the workplace. It is a fact that for a living, food, shelter & clothes are needed. With funds, all the necessities including luxuries can be bought for living as well as enjoying life and  to get all these necessities has to possess money. This is a great truth that cannot deny . This is the sole reason why funds attracts people, exhibiting its novel character of being a great motivator at work places. Everyone work to earn and get funds and better wages can induce or motivate workers to do the best. Money is an indispensable thing like oxygen for survival which can buy anything to everything in this world. It is therefore a precious thing of our life & belonging.

Employers know that money is of the best motivators. However, are bonuses or money awards always the best way to reward employees?

There's some circumstances where money is the best recognition for additional work, there's other times it is inappropriate.

But, in the same time this is demeaning, trivializing, & bad for morale. People are motivated by different things. Some employees have financial goals, others have professional goals, & others have personal goals. So, money alone cannot work for achieving everything. Since every person is motivated by something different, money may not work for every worker. Some people have motivation from within or intrinsically. These people do not often need rewards or encouragement to keep them motivated to complete or finish a task. They have the mind set to succeed. Others are extrinsically motivated, or need outside forces to keep them interested in finishing a chore or tasks. These are the people that need lots of encouragement, rewards or praise in order to stay motivated to complete a task.

The primary reason why people must work is because of money. People are motivated by money the most, & money is a fair & effective way for management to show appreciation to hardworking staff. Employers know this, & lots of companies reward outstanding employees with bonuses & money rewards for nice work.

Money awards are effective:

 

1. Money motivates people, and extra money motivates people to work extra. 

2.  Money is acceptable for all workers - some may not appreciate a particular present, or some gifts may be insulting.

3.   Money often plays an important role in someone's decision to join or leave a company.

4.  Employees compete to raise productivity or standards.

5.  Hunger is the greatest motivational force.Money is the tool to achieve many things in life. If you sum up them all, money does assume a great importance.

6.  It is not always possible to promote people, so money is a simple way to reward workers.    

Money is not effective:

1. There are many other ways to motivate employees such as appreciation, admiration, performance recognition, fringe benefits, job security, personal growth, good atmosphere, top technologies, interesting products or well-organized processes  etc.

2.    If the employer finds it motivating to award money, perhaps the salaries are too low.

3.  The amount may not bear relation to what the employee does.

4.  Employees work for a salary - they do not want to perform like circus animals if paid more.

5. Money trivializes work, which for many professional employees should be its own reward.

6. Happy, motivated employees who clearly know what is expected of them and who are given the opportunity to learn and grow in their careers are much more likely to make long-term commitments to their place of work. There is no requirement of motivating them by money.

7. Empowering workers with responsibility, respecting personal boundaries, recognizing employees as valued resources and creating supportive relationships will go further than just a pay increase towards satisfying employees.  

Money is only sometimes effective :

1.It may be difficult to determine the standard or basis for the decision to award the employee

2.If employees are highly paid, money may not be sufficient. They may prefer other benefits, such as an award ceremony or dinner, a club membership, a travel ticket, a car, a window office, etc.

3. Money may set employees against each other, leading to conflict in the office.

4.  Employees may feel forced to compete.

Money is the greatest motivator for those individuals who require it to be because if people go around living and breathing for money than it is. Everyone does require money to survive but you don't require lots of it to survive because there's some people in this world who can survive with Rs.500 to Rs.1000 in their pockets. Let's say that there is a stock broker or a wall-street banker, they live it and breathe it, they make commissions or get promoted with every correct quote or point or how much money is in their bank - that is what motivates them, and the same goes for anyone who grew up badly, their motivation is to make it any way feasible by making a name for themselves and staying on top; seldom enthusiastic to return to their past life. A that is comfortable living the simple life and basically surviving, they may not require to change their lifestyle because they think that money is the root of all sinful or are frightened of success, period or afraid of losing themself in the money but money can be a motivator but it depends on your outlook on money and what you personally require to do with it or where you require to go.