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Non Financial Desire More Important Than Financial Desire Management Essay

Employees nowadays have various types of needs. For instance, a large volume of employees need high wages to improve their passion of working. Alternatively, some employees want not only money, but also other non - financial rewards such for as long vacation trips and satisfied place of work. To stimulate employees methods to make them want to be employed by the employer, especially the works that involves hard working and effort. To allow employees stay in the companies, employers consider motivating their workers and let them to stay. Some employers use non - financial rewards such as long vacation or satisfied working environment. However, others may only consider increasing the employees' salaries because they often believe 'a reasonable day's purchase a fair day's work', quite simply, the earnings are based about how much the employees have done. Based on this situation, some individuals consider that only financial pay back is enough while others may dispute that employees should have non - financial rewards. Although 'a good day purchase a good day work' can encourage employees to work harder, a confident impact such as higher output can be made if companies stimulate their employees by using non - financial motivation such for as long vacation.

Financial pay back, especially money, is one of the main factors of motivating employees all together. Corresponding to Hall et al (2008), there are two explanations why employees should be encouraged. The first one is if motivation is insufficient in the short run, it may lead to lack of enthusiastic staff. Therefore, employees might not exactly devote almost all their energy when they are working. The second the first is when in the long run, lack of inspiration may initially, lead to a huge number of employees steering clear of work without leave or good reason. Furthermore, more quarrels about work happen. Finally, it could collapse the labor production, and most essentially, income. A theory from Taylor which is found in Hall et al's (2008) book has demonstrated this assertion. Taylor, in 1911, as one of the fathers of the Scientific Management School, told the earth that 'to motivate workers, the professionals just need to pay them money'. Money, however, may sometimes be unfair paying. To solve this problem, managers are suggested to pay employees foundation on how much productivity they may have made which also call 'a reasonable day pay for a good day work' which can need the employees to work harder and better to get more rewards. Another reason to support the financial reward is from Hall et al's (2008: 381) point of view which has mentioned when working with money to pay, employees may see work as a way to a finish. Therefore, financial determination has performed an important role in motivating employees.

Figure1: Maslow's Hierarchy of Real human Needs (Untitled File, 2009)

In spite of giving wages and incomes, non - financial rewards also need to be given. You can find two evidences to prove this discussion. First, predicated on Hall et al (2008), a theory called Maslow's hierarchy of needs described five elements that employees want from job (see amount1). These five elements are pursuing from the low level that happen to be physiological needs such clothing and food; safety needs; love and belonging; esteem needs; to self - actualization which is at the top. As a matter of fact, solely the building blocks of physiological needs is money; however, what employees' ultimate want is to attain self - worth. Here is an example from HSBC which is wanting to train their employees to help them work more competent and be more successful. HSBC has create a lender' university programmer in 2004, this programmer give opportunities to employees to improve their knowledge (hsbc, 2005). As one of the biggest employer of UAE nationals in the bank industry, employees from HSBC can enjoy the mature strategy to improve the skills whatsoever domains. In order to repay the business, employees can do their finest to improve the company. Second, from Teacher2u's idea, there are four types of non - financial rewards for employees. The first one is to make the work more difficult. Therefore, the power of employees can get an indicated when solving the task; next is never to create work so flat which can certainly reduce the enthusiasm of employees; in addition, working as team, it is clear that employed in a team or in an organization is a showcase for employees showing their quality while managing the work task. From then on, employers can provide their workers some specialist to inspire them in order to work better and make the company better (Teacher2u, 2010).

Non - financial rewards are more important than money while others may have a good idea that money is the main element of why people need a job. It is clear that there are several factors why motivating employees. Matching to Hall et al (2008), four reasons are given why employees need non - financial rewards. First, financial pay might not be fair. Although amounts of employers claim that wages or wages should be good, you may still find some unfair payments arise and employees are still complaining about them. Second, as Hall et al said (2008, p389), financial motivation strategies are difficult to use. Because of this, there are complications to have a fair pay for each employees. Next, financial rewards should be sensible to every employee; however, if each staff can't be satisfied, it could feedback a poor effect to the business. It is because dissatisfied employees may well not work hard to increase productivity for the business. Finally, there are such a sizable amount of ways to encourage employees, for example, property security, labor and sociable security. Because of this, to stimulate employees, it holds true that money is an important way, in spite of this, other factors should be satisfied as well. In any other case, no matter how much cash employees get, they might not exactly have high efficiency on the task they do. This example may not beneficial to companies or even may lead to inefficiency and low output.

To summarize, motivating employees is an important factor to desire them work harder and also have higher productivity. In addition, similarly to Maslow, Herzberg also has remarked that how to encourage employees. Matching to articlesbase, in Frederick Herzberg's Cleanliness Theory which is also known as the Two Factor Theory, Herzberg firstly mentioned out the intention of determination, such as challenging work that will result in the satisfaction of employees. Then he said that we now have also other factors such as satisfied place of work and incomes, if these factors can't be determined to employees, will be called 'Health' factors (articalsbase, 2010). However, if use money to motivate only, it is difficult to fair to each staff. Therefore, employers should use non - financial inspiration such as lay out some challenging work or team work so that employees may use their whole passion to resolve each difficulty during they will work. Working is to enrich humans' experience and widen their knowledge. An effective staff member not only gets money, but also obtains the admiration of other folks, most of all, humans should complete self applied - actualization eventually.

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