Is Money the Biggest Motivator in the Workplace? What We Learn from Real-Life Facts.

Mqondisi Bhebhe

Abstract


In response to Maslow’s (1943) hierarchy of needs, business executives today favour the use of non-financial rewards over money, resulting in a lot of dissatisfaction in the workplace. This paper analyses both the primary and secondary evidence, focusing on the causes of corruption, industrial strikes and the general behaviour towards money in an effort to guide employers on the best motivation technique. Findings suggest that most individuals can embark on violent and destructive behaviour if they are not paid in cash and are reluctant to fight for non-monetary rewards. However, to perfectly motivate the workforce, it concludes by recommending a mixture of both but with more emphasis on financial rewards, regardless of the individual’s corporate development level.

Keywords


motivation, financial rewards, non-financial rewards, Maslow, self-actualization.

Full Text:

PDF

References


Associated Press. (2017). Prosecutors demand 12-year sentence for Samsung heir convicted of bribery. Retrieved from https://nypost.com/2017/12/27/prosecutors-demand-12-year-sentence-for-samsung-heir-convicted-of-bribery/

Bhebhe, M. (2018). Human Resource Management Solutions. Europeran Union: United P.c. Company.

Bhebhe, M. (2018). Academic Writing Guide for University Students. London, United Kingdom: Bookboon.

Business Jargons. (2018). Strike. Retrieved from https://businessjargons.com/strike.html

Gallas, D. (2016). Dilma Rousseff impeachment: How did it go wrong for her? Retrieved from https://www.bbc.com/news/world-latin-america-36028247

Javid, S. & Chapa, A. (2014). When Money is not a Motivating Force in the Work Place. Global Journal of HUMAN-SOCIAL SCIENCE (14)3

Laakso, L. (2012). CASE STUDY: THE IMPACT OF FINANCIAL AND NON-FINANCIAL REWARDS ON EMPLOYEE MOTIVATION [Bachelor’s Thesis]. Finland: Turku University of Applied Sciences.

Lee, C., Clarke, S., & Quynh Chi, D (International Labor Organization). (2006). Strikes and industrial relations in Vietnam: Industrial relations at crossroad in VietNam. Retrieved from http://apirnet.ilo.org/resources/industrial-relation-dispute-settlement-invietnamat_download/file1

Mariella Miraglia et al. (November 2015). Going to work ill: a meta-analysis of the correlates of presenteeism and a dual-path model. Journal of Occupational Health Psychology. DOI: 10.1037/ocp0000015

McDonald, R. & Majeed, T. (n.d). Causes of Corruption in European Countries: History, Law, and Political. United Kingdom: University of Glasgow.

naukrihub.com. (2018). Labour Strike. Retrieved from http://www.naukrihub.com/industrialrelations/strikes.html

NDTV News. (2018). South Korean Former President Park Geun-Hye's Sentence Extended. Retrieved from https://www.ndtv.com/world-news/south-korean-former-president-park-geun-hyes-sentence-extended-1905339

Power, I. (2013). Six reasons your employees will go on strike – expert. Retrieved from https://www.biznews.com/thought-leaders/2013/12/03/six-reasons-employees-will-go-strike-expert

Russel-Prywatta, L. (2018). CORRUPTION, WEALTH & POLITICAL POWER. Retrieved from https://www.transparency.org.uk/corruption-wealth-political-power/#.W7uwf_LBLGs

Rynes, S. L., Gerhart, B., & Minette, K. A. (2004). The importance of pay in employee motivation: Discrepancies between what people say and what they do. Human Resource Management (pp. 381-394). Iowa City, Iowa: Wiley Periodicals Inc.

Sulleyman, A. (2018). Strikes and Lockouts. Retrieved from https://www.slideshare.net/suleymans19/strikes-and-lockouts-weapons-used-by-employer-and-employee-advantages-and-disadvantages-of-strike-and-lockout

The Guradian. (29 August 2018). Official in Fifa bribery scandal jailed for nine years over football racketeering. Retrieved from https://www.theguardian.com/football/2018/aug/29/fifa-bribery-scandal-official-jailed-football-racketeering

The Guardian (17 August 2018). UN: Brazil’s jailed ex-president Lula can't be disqualified from election. Retrieved from https://www.theguardian.com/world/2018/aug/17/un-brazils-jailed-leader-lula-cant-be-disqualified-from-election




DOI: https://doi.org/10.32535/ijabim.v3i2.162

Refbacks

  • There are currently no refbacks.


Copyright (c) 2018 Mqondisi Bhebhe

Creative Commons License
This work is licensed under a Creative Commons Attribution 4.0 International License.

Flag Counter

Published by : Association of International Business & Professional Management
Editorial Office:
Association of International Business and Professional Management (AIBPM) JL. Kahuripan No. 9 Hotel Sahid Montana, Malang, Indonesia
Phone:
+62 341 366222
Email:
infoaibpm@gmail.com
Website:
http://aibpm.org/

ISSN 2614-7432 (Print)
ISSN 2621-2862 (Online)

International Journal of Applied Business and International Management INDEXED: