Behavioural theories of wages: based on research studies and action programmes conducted, some behavioural scientists have also developed theories of wages their theories are based on elements like employee’s acceptance to a wage level, the prevalent internal wage structure, employee’s consideration on money or’ wages and salaries as. The hierarchy of needs theory was coined by psychologist abraham maslow in his 1943 paper “a theory of human motivation” the crux of the theory is that individuals’ most basic needs must be met before they become motivated to achieve higher level needs. Remuneration is the compensation an employee receives in return for his or her contribution to the organization remuneration occupies an important place in the life of an employee his or her standard of living, status in the society, motivation, loyalty, and productivity depend upon the remuneration he or she receives. According to this theory, there is a top limit and a lower limit of compensation and the actual wage rates in between these limits are set or calculated by the bargaining power of the employers and the employees.
Theories of compensation definition: the compensation is the remuneration given to the employees for the work they do for the organization in other words, an employee is entitled to both the financial and the nonfinancial benefits in return for his contribution to the organization. Employee motivation theories john stacey adams' equity theory helps explain why pay and conditions alone don't determine motivation it also explains why giving one person a promotion or pay rise can have a demotivating effect on others. Employee renumeration is defined as, the reward or compensation given to the employees for their work performances, according to management study guide renumeration is a method of promoting. The general meaning of remuneration is the basic salary or pay of an employee, but in the broader sense, remuneration comprises salary, fringe benefits, compensation, bonus, commissions, employee stock option, etc (guedri and hollandts 2008.
Keywords: motivation, employee productivity, salary, incentive 1 introduction 11 background of the study the first theory, the view traditionally held about employees, portrayed workers in organization effect of motivation on employee productivity: a study of manufacturing companies in nnewi. Employee motivation, ie methods for motivating employees, is an intrinsic and internal drive to put forth the necessary effort and action towards work-related activitiesit has been broadly defined as the psychological forces that determine the direction of a person's behavior in an organization, a person's level of effort and a person's level of persistence. B keijzers employee motivation related to employee performance in the organisation 2 preface this bachelor thesis is written for the business studies program of tilburg university. Theory of motivation under theories of motivation, vroom's expectancy theory clearly defines strong relationship between moderation and compensationaccording to this theory, satisfying one's expectations and giving value (rewarding) for his efforts will result in motivation generally employee in any organisation first expect monetary reward from his/her employer in respect of his/her work. Typical outcomes are job security, esteem, salary, employee benefits, expenses, recognition, reputation, responsibility, sense of achievement, praise, thanks, stimuli it's all about the money payment however, is the main concern and therefore the cause of equity or inequity in most cases.
Academic theories behind employee motivation offer a number of suggestions as to factors influencing performance, vicki taylor questions how these can work in practice case study: b & q article in full keeping employees motivated is a key task for any human resources department, but finding the best way to do so is another matter. Employee motivation theories attempt to create models to understand what motivates people to push their performance at work savvy managers familiarize themselves with a range of motivational. This theory focuses on modifying an employee's on‐the‐job behavior through the appropriate use of one of the following four techniques: positive reinforcement rewards desirable behavior positive reinforcement, such as a pay raise or promotion, is provided as a reward for positive behavior with the intention of increasing the probability. In maslow’s theory, employees whose lowest level needs have not been met will make decisions based on compensation, safety, or stability concerns so it is vital that hr professionals ensure that these needs are fulfilled before others further up the pyramid.
Remuneration theories there are various theories in understanding remuneration out of which three different theories will be discussed as follows: equity theory: posits that employee in organisations expects to be rewarded like other employees for similar levels of input, this makes the distribution of reward important. Wage and salary, income derived from human labour technically, wages and salaries cover all compensation made to employees for either physical or mental work , but they do not represent the income of the self-employed. Theory x and theory y: theories of employee motivation theory x and theory y was created and developed by douglas mcgregor at the mit sloan school of management in the 1960s it describes two very different attitudes towards workforce motivation. There are several theories of wage determination propounded by different scientists and are based on varied assumptions the employees are paid wages or salaries for the work done by them thus, the return to the employees should be according to their efforts and the pay standards prevailing in the industry.
“assessing the role of work motivation on employee performance” author: peter ebong ajang 2 abstract the main purpose of this study was to” assess the role of work motivation on employee performance” this study in an assessment of this purpose used deductive approach in which 22 motivational theories. Meaning and theories of remuneration remuneration meaning- the compensation an employee receives in return of his or her contribution to the organization remuneration is the reward for employment in the form of pay, salary, or wage, including allowances, benefits (such as company car, medical plan, pension plan), bonuses, cash incentives, and.
Economic theories in compensation management economists view employment as an exchange of labor services in return for payment of money or payment in kind they also view compensation as a function of labor market dynamics, particularly demand and supply. The agency theory of compensation management can make it a priority to maximize productivity, performance, and the reputation of the company so that employees, management, and stockholders all. Implement the theories to ensure happy and motivated employees the most important theories include: maslow’s hierarchy of needs, herzberg’s two-factor theory, aristotle’s seven causes, and the different types of motivation.