Many people argue that the most effective way to motivate workers to work hard is by paying them on the basis of products they sell and manufacture. While I agree with this notion, I believe that along with remuneration other motivational strategies are also crucial. This essay will explore other non-monetory methods, and the effect of payment on efficience of workers.
Performace-based pay is the best way to motivate individuals. When there is a direct link between hard work and pay, workers are naturally motivated to perform tasks diligently. For instance, in retail industry, workers are payed according to number of goods they sell, with reasonable pay for hard work. As a result, for higher pay they sell higher-quality products with great efficiency.
However, this strategy should be incorporated with the other non-financial motivating factors such as annual payed leave, recreational activities, and good working conditions. These ways will not only encourage employees to strive for better work opportunities, but will also help them to relax and stimulate their minds. For example, companies such as Google and Microsoft have already adopted these multi-facted measures to incentivize workers. Consequently, there is a significant increase in productivity and economic growth of these companies.
In conclusion, the combined approach of financial and non-financial methods are necessary to encourage workers. By this individual feel valued both financially and socially; hence, overall contributing in the development of entire organization.