An Investigation into Reward and Incentive Schemes and The Impact They Have On Motivation Within Different Business Sectors.
Cardiff Metropolitan University
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Motivation and motivational theorists are a huge part of organisational cultures and are still always developing. With such theorists as Maslow, Herzberg and Alderfer there are always going to be new adaptations of what they founded. Reward and incentive schemes can be used in many different ways to try and get the best out of individuals. With incentives from the financial side to the non-financial side, employees want to receive rewards and incentives for the hard work they put in. The project drew upon whether reward and incentive schemes impacted on the motivation of employees within different industries. Two organisations from different business sectors have been analysed in the way in which they use reward and incentive schemes and how they measure on the employees’ motivations. The first organisation being a sales company compared to the second organisation being a hospitality company. Both of these organisations come from different business sectors and both use reward and incentive schemes to motivate their employees. The organisations were interviewed and this became the basis of the questionnaires that were distributed to the employees of the company. The findings showed that pay was a key motivator for both companies, but more needed to be developed with the use of them to satisfy the employees further. The use of personal praise and developing a good team was heavily noted within the hospitality industry, drawing upon the intrinsic and extrinsic motivations the employees had. The findings and outcomes contribute towards the existing theories of motivation and the use of reward and incentives, in how to make employees feel more motivated and appreciated. With using motivational theorists and developing how reward and incentive schemes could be used within different business industries, it ensures further ideas which could help organisations understand what their employees need to feel to be motivated to perform to their highest level.
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