It is the fact that everyone wants to be appreciated. This goes for managers as well as employees, parents as well as children, and coaches as well as players.
This assignment presents the importance of motivation in an organization towards achieving the organizational goals. Motivating the employees using various rewards is one of the key roles of the manager. In the world there are many new skilled workers, to make full use of their skills and knowledge manager must design himself to ensure the needs of these employees are met. So rewards are one of the key factors to get full productivity from the employee. Hence this work brings out the theories and the rewarding methods adopted by the top level managers for maximizing the efficiency of the employees. Also the implementation of the rewards is analyzed.
Motivation is the willingness to exert high levels of effort to reach organizational goals, conditioned by the effort's ability to satisfy some individual need.
Motivation refers to internal process and external forces that direct behavior.
John (1999) "Management".
Motivation can be regarded as an broad concept preerences for particular outcomes, strength to particular effort and persistance. These are the factors a manager has to understand and appreciate in order to motivae the employees.Managers must know about the needs, intention, preferences, goals and comparisons of the employees to motivate them.Andrzij and David 2001 "Organisational behaviour."
Importance of motivation:
The following are most important factors of motivation:
Motivation Increase revenue the revenue of an organisation by higher employee involvement. Motivation Improves work processes by having a better employee employer relationship. Motivation Increase sales volume of the oragnisation. Motivation Improves profitability.
DIFFERENT THEORIES OF MOTIVATION:
1.MASLOW's HIERARCHY OF NEEDS:
The best known theory of motivation is Maslow's Hierarchy theory.