4. Employee Motivation Tools

 

4. Employee Motivation Tools

(Borowski and Daya, 2014) stated that every organization has its own motivation tools. But these tools are mainly divided into two parts, monetary & non-monetary. The Monetary – Base remuneration, Bonus (statutory, discretionary), commissions & rewards.

Basic remuneration is a fixed salary & the variable remunerations are the bonus. Some organizations are indicated bonus payments in their salary particulars, but others are decided on their performance according to the job role(Borowski and Daya, 2014). The commission fee is also a variable payment that is mostly used in goods & products services. As a reward, wages & salaries should be complying with three conditions to motivate employees. The first one is the organization has to appreciate their work, if that doesn’t happen they will not feel its value(Borowski and Daya, 2014). On another side, these payments should be on time to appreciate their performance & they should be valued for their contribution to work & completion of the task(Borowski and Daya, 2014.

E.g.-For: In my organization, they have a better performance plan. Once a year, management will evaluate their performance based on achieving targets relating to the job role. They rank employees and decide which amount of bonus should be provided.

Awarding non-financial provision (Borowski and Daya, 2014) stated that every organization has its own motivation tools. But these tools are mainly divided into two parts, monetary & non-monetary. the Monetary – Base remuneration, Bonus (statutory, discretionary), commissions & rewards.

 

Awarding nonfinancial provisions can also motivate employees. (Yousaf 2014)

E.g.-: Medical care, extra holidays, vehicles, laptops, phones, events organizations, and education support programmers.

As non-Monetary Incentives can be highlighted as

*Time to time feedback for employee’s performance.

*Providing new job opportunities.

*Increasing communication opportunities between management & the employees.

*Introducing employees’ liabilities.

Important Financial & non-financial tools for employee motivation

(Yousaf et al., 2014) stated that salary, “bonuses, and fringe benefits are instrumental in fulfilling the basic necessities of life and needs of belongings and authority”. Every employee is expecting a proper salary scale matching their qualifications & skills. Since this is a very important tool to motivate people to accomplish the goals of an organization. In COVID 19 pandemic situation, this was a very powerful tool for an organization.

On the other side bonus on performance, and appraisal is s very important tool, able to achieve g goals with employees’ career development & creating new job opportunities (Yousaf et al., 2014). 

Medical & health facility is the most important requirement for employees. In case of an emergency, any employee needs this for their spouses & children. This may cause motivation as well as employee retention for an institution (Yousaf et al., 2014).

Transport facility & accommodation is very important for employees according to the current state of expenditure. Especially employees who work outstation branches or workplace are important these facilities. Organizations can arrange quarters or transport facilities that work far away from their home town (Yousaf et al, 2014).

Payment of holiday allowances is also a motive factor for employees. It helps to reduce their stress & creates a good feeling about the institution. (Yousaf et al, 2014)

 

As non-financial tools, Training development is important to adapting to change for organizational changes & developing employees’ skills. Today most organizations are conducting many training programs (Yousaf et al., 2014).

Eg-: Because of the covid pandemic situation, management had to conduct every program through the online system. This was a big opportunity & useful to the management conducting training programmers without external cost.

 Health Insurance policy helps to motivate employees since they get insurance covers for full body checkup claims, and hospital stays. Providing transport facilities & paying fuel costs are helps to mitigate the financial burden (Yousaf et al., 2014).

As non-financial rewards for employee motivation are also very important factors.HR departments should always arrange training programs, and performance evaluations to motivate employees for accomplishing the goals of the company. The establishment of a transparent performance management system and participation of employees in the decision-making process is very important as non-financial tools(Yousaf et al., 2014).

 

How to Fulfill the Drives that Motive Employees?

The drive to Acquire amass implies that we tend to perpetually compare what we have got with what others possess. and insatiate (we perpetually need more). That explains why individuals perpetually care not just concerned (Nohira 2018).

 

The Bond implies that why workers notice it arduous to interrupt out of divisional or purposeful silos. Individuals become connected to their nighest cohorts. However, it’s true that the power to create attachments in larger collectives generally leads workers to worry a lot of concerning the organization than concerning their native cluster (Nohira 2018).

 

The drive to comprehend reflects that workers square measure motivated by jobs that challenge them and change them to grow and learn and that they square measure pessimistic by those who appear to be monotonous or to guide to a dead finish proficient workers. Talented employees who feel trapped try to leave workplaces and find new challenges. (Nohira 2018).

The drive to defend implies that “fulfilling the drive to defend leads to feelings of security and confidence; not fulfilling it produces strong negative emotions like fear and resentment”. (Nohira 2018).

               Harvard business review • July–august 2008

Borowski, A., Daya, U. (2014) Employee Motivation Tools.Human Capital WithoutBborders Management, Knowledge and Learning for Quality of Life, Portoroz Slovenia International Conference, 666-67.

Nohria, N., Groysberg, B., and Eling-lee, L. (2008).Employee Motivation. Harward Business Review July August, p.4

Yousaf, S., Latif, M. Aslam S., Saddiqui, A. (2014) Impact of Financial Rewards On Employee Motivation. Department Of Management Sciences 21(10)1776-784.