The expectancy model holds that work motivation is determined by individual beliefs regarding effort-performance relationships and the desirability of various work outcomes associated with different performance levels" ( Hellriegel, Slocum and woodman 2001).4.2 Justifications of the Expectancy model Hellriegel, Slocum and woodman (2001) argued. However, the organization's management can and will have transformational effect on that emotional contract and influence their staff positively or negatively. The process approach explores the psychological contract that is when a worker voluntarily makes an agreement with an employer to provide services for compensation, there is a negotiated contract. The worker agrees that his or her material or non-material compensation is of equal or more value than the time, energy and effort, he will supply to the organisation. Similarly, the organisation agrees to compensate employees in return for their resources, time, talent and energy. Therefore, the need for interviews and discussions before the signing of an employment contract cannot be overemphasized. In order for the organisation to retain their services, (and thus reduce escape or high cost of turnover) organisation must be able to properly evaluate these emotional or psychological contracts and negotiate them successfully with the employee.
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The content theories establish the types of rewards which could be employed as a means to motivating individual employees for high performance. In contrast to the content approach, process approach relates to how the knowledge of motivating factor could be applied to influence the behaviour of individual employees in a desired way. Popular among the process approach is Expectancy theory.4.1 Expectancy Theory The expectancy model states, "People are motivated to work when they expect to achieve things they want from their jobs. A basic premise of the expectancy model is that employees are rational people. They think about what they have to do to be rewarded and how the rewards mean to them before they perform their jobs" (Hellriegel, Slocum and woodman 2001) Expectancy theory is" based on the expectation that people bring with them to the work situation, and. The expectancy model was originated from the argument that the management of an organisation has a responsibility to both motivate its data employees through daily tasks, and to produce at its most effective level. Employee engagement is strongly tied to motivation and it can be argued that there is a direct effect of management styles employed by an organisation on the employee engagement level of the organisation. In consideration of the management styles within organisation and how they affect the commitment of the staff to the organisation, it is also necessary to take into consideration the expectations of the staff when they enter the organisation. This premise is supported by the third fourth assumption of the theory y view of human behaviour according to McGregor which states: people will exercise self direction and self control in service of objectives to which they are committed. People have potential and under proper conditions they learn to accept and seek responsibility, they have imagination and creativity that can be applied to work. In addition, expectancy theory implies that "management need to demonstrate to employees that their effort will be recognised and rewarded, in both financial and non-financial" (Marchington and Wilkinson 2005).
According to Armstrong (2010 he suggested that "reward management is not just about financial rewards, pay and employee benefit, it also concerns non-financial rewards such as recognition, learning and development opportunities and increased job responsibility". Certainly pay is a factor that can motivate employees to work but not withstanding many people are motivated to work hard regardless of financial reward and for some, the level of monetary reward is important symbolically as recognition of worth (Marchington and Wilikinson 2005).4. Content theories focus on what motivates individual that is the fundamental human needs that motivate man in his environment. This theory is hinged on the pioneering work of taylor who tagged man as an "economic man" who is lazy and must be motivated by management through pay system. His conception is that "if employees are expected to be only motivated by economic incentives, the management approach used to deal with them is to train them to behave exactly in that way" (Marchington and Wilikinson 2005).Among these category, is Maslow's hierarchy of need and. In the maslow's hierarchy are five ordered needs-from physiological, safety, social esteem, to self - actualisation. Maslow suggests that the order is interpreted in a way that category of needs becomes activated only after the lower is relatively satisfied. The dual -factor theory does not only specify the needs but improved points on Maslow's theory to indicate the relationship between the needs and high job performance. The lower level need are the 'hygiene' factors which reflects the three lower level needs in Maslow's hierarchy, while the motivators in the high level needs reflect two high level needs in the maslow's hierarchy.
Absence of performance constraints-meaning there should be no management or organisational roadblock rather the organisation should empower and strengthen the capability of employees. Trained supervisors and managers to measure employees level of commitment and performance. Goal measurement system must be appropriate in setting achievable goal targets. Ability to pay: This indicates that the payment should be within the budget limit of the organisation, which reflects in its prosperity. There should be a clear distinction between cost of living, seniority and merit-related rewards to avoid wrong assumption of basis for rewards by the employees. Communication of the reward system must be adequate for formal pay structure in order to be equitable and fair when compared. Flexible reward schedule must be provided especially where the pay structure is informal, biography in order to keep appropriate differentials with changes in the market rate worth of employees". Considering the discussion so report far, the question is: will financial reward engage employees better than non- financial reward?
The productivity depends on the capability to attract, retain and motivate with financial and non- financial reward incentives people of the quality required by the enterprise (Shields 2007). Armstrong (2010 p10) sited (Ghoshal and Bartlett, 1995) that "the overall aim of reward management should be to add value to people". In addition to this, other aims are; to support the achievement of business goals through high performance, develop and support the organisation's culture, define what is important in terms of behaviours and outcomes, reward people according to the value they create; reward people according. According to a nigerian author Atiomo (2005 the aims of reward management could be specified on three main areas - the organisation, the individual employees and collectively the union of employees. For the organisation, reward should aim at; recruiting the quantity and quality required, encourage suitable staff to be loyal and remain in the organisation, provide rewards for good performance and incentives for further improvement in performance, maintain appropriate differentials relative to values of different levels. For individual employees the reward system should be fair and equitable in valuation of the worth in comparison with others. The third which is the union of employees, the system should ensure maximum benefits for members without undue prejudices to their future security by making their reward to pace with the cost of living and the prosperity of the organisation. In order to meet the above listed aims and objectives, a reward system must satisfy the following pre-conditions which byars and rue (2005) called the desirable pre-conditions for implementing a reward for performance, commitment and engagement; "Trust in management- since rewards communicate the desired goals.
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Along with the financial incentive reward First Bank nigeria plc uses non- financial incentive such as Job enrichment (giving workers more interesting, challenging and complex tasks), job enlargement (giving workers more tasks to do book of a similar nature or complexity empowerment (delegation teamwork, recognition, suitable. 2.3 Reward System; Policies, Objectives and Condition. Reward System is an" integration of the sources and the course of actions that inform the selection of a mix of rewards aimed at facilitating the attraction and retention of employees, and to encourage employees' effort, cooperation as well as willingness to learn new skills. In a simple word Armstrong (2010) defines reward system as "the interrelated processes and practices that combine to ensure that reward management is carried out effectively to the benefit of the organisation and the people who work there". This indicates that the reward strategy adapted by any organisation must fix into the human Resources and business strategies of the organisation.
"Reward strategies direct the development and operation of reward practices and processes and also form the reward policies, which in turn affect reward practices, processes and procedures" (Armstrong 2010 p28). Reward policies are the guidelines and course of actions formulated for essay successful reward system with the greatest impact on the motivation and performance of individual employees. For reward system to be effectively administered, byar and rue (2005) suggest that the policies should clearly indicate; The minimum and maximum levels of pay considering-The worth of the job to the organisation, ability to pay, government regulations in the labour market, other market pressures. General relationship among levels of pay between senior operating management and between operative employees and supervisors, the division of total reward into various portions, for instance base pay, incentive programmes, benefit, lastly, how much should go into pay increases for the next year and who. The primary aim of reward system is to reinforce the drive to improve organisational effectiveness and productivity.
This pay is often in relation to a given period like an hourly rate, weekly wage or annual salary. It's also an established rate for all workers in one category. This type of pay scheme is mostly in use in Nigeria. Skilled, semi-skilled and some of unskilled labour are paid monthly but sometimes unskilled workers are paid weekly or daily. Individual pay scheme which includes; payment by result, it's establish a link between reward and effort, this imply that individual employee will be pay according to their contribution and output regardless of their level of experience or the post.
According to marchington wilkinson (2005 pbr schemes vary in practice; they can be related to the whole employee's pay or part of an overall package. Performance-related pay, this payment scheme involves paying of people according to their performance. "These are always inform of increase to basic or cash bonuses which are link to an assessment" (Torrington el al 2009).individual pay scheme is mostly in use in the manufacturing, marketing and financial sector in Nigeria. Incentive for group, Plant/enterprise-based it is refer to as grain sharing within large group or the whole organisation. This pay scheme is use in organisations where the workforce can clearly see the results of their efforts. First Bank nigeria plc, payment scheme is the basic pay which is equals for all employees in the same category. Bonus is based on a plant performance over a given period. Other banks in Nigeria mostly pay their employees base on individual performance.
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Intrinsic reward include- achievement, feeling of empire accomplishment, proposal recognition, job satisfaction, personal growth and status, job enlargement, job enrichment, team working, empowerment. Extrinsic rewards also include formal-recognition; base wage or salary, incentive payments, fringe benefits, promotion, social relationship and work environment. This study will explain and define different type of pay and non-financial scheme use in today's organisations. According to torrington el at (2009 "since 1940s payment scheme have had two underlying philosophies; First is the service philosophy (experience).It imply that people become more effective as they remain in a job, so their services should rewarded through incremental pay scales. Second is "fairness philosophy" that organisations must have standard structure of reward strategy that with promote fairness". This study will describe the payment schemes which are basically in use in Nigerian. Basic pay- it is a straightforward payment scheme which may not provide incentives to individual workers because they are not based on output or performance.
Which means reward could be interchanged as compensation or remuneration or explicit price of labour. Reward management is more concerned with people (employee) and the value they create in essay the organisation (Schneider 1987). For organisations to achieve a highly committed business environment and its overall business goal, a reward strategy must be developed to ensure that the contribution people make to achieving organisational or team goals are valued, recognised and rewarded (Armstrong 2010;p8). 2.2.1 Financial and Non-Financial, according to byars and rue (2005 rewards are of two types, the extrinsic reward and the intrinsic reward. Extrinsic rewards are the tangible rewards in form of pay and benefits while intrinsic rewards are intangible rewards internalised by individual employees as a result of their participation in specified activities. Another word to extrinsic and intrinsic is Financial and Non-financial some texts also refer to them as monetary and non-monetary. The list of intrinsic and extrinsic rewards as stated by byars and rue (2005) also indicate the structure of rewards as follows.
nigeria plc, most of the employees are highly skilled and the attractive rewards they receive are dictated by the competitive labour market, which places high premium on requisite skills. Reward strategy, in practice, is beyond the obligatory compensation or remuneration package it is a package of motivational incentives that guide actions in manipulating and controlling the behaviour of employees towards the achievement of an organisation's goal (Armstrong and Murlis 2004 sited (Stoner, Freeman and. It is in the recognition of the importance of reward as motivational technique that most organisations invest heavily in them (reward) in order to gain control of the behaviour of their employees. (Shields 2007).fracture.2 The concept and Definition of Reward. According to Armstrong (2010) reward management is defined "as the strategies, policies and processes required to ensure that the value of people and the contribution they make to achieving organization, departmental and team goals is recognized and rewarded". Armstrong and Murlis (2004 p3) defined reward management "as the process of formulating and implementation of strategies and policies that aim to reward people fairly, equitably and constantly in accordance with their value to the organization. It also deals with the design, implementation and maintain of reward processes and practices that are geared towards the improvement of organizational, team and individual performance". Literally, according to the above definitions reward management is a motivational tools use in appreciating employees on the efforts contributed to the organisation.
If you are an introvert or have an introvert in your life, do yourself a favor and get this book immediately. Bookriot ) "you know the feeling when you read a book and that book just understands you? Imagine how this unique, illustrated book will make essay your introverted friend feel. Its a gift that says, 'i get you. Print, reference this, published: 23rd March, 2015.1 Introduction, reward is the generic term for the totality of financial and non-financial compensation or total remuneration paid to an employee in return for work or service rendered at work. Reward, which is sometimes been refer to as compensation or remuneration, is perhaps the most important contract term in every paid-employment. Its impact on workers (or employee's) performance is in most instance greatly misinterpreted.
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Marzi wilson sums up the life of an introvert perfectly with her comics. She also uses her art to provide some excellent advice for people who have an introvert in their lives. And of course, there are always reminders that the extroverts in our lives keep us nice and ions balanced. Buzzfeed ) "Delightful." -huffington Post Lifestyle, whether you're an introvert who needs a reminder that different doesn't mean damaged, an extrovert keen to understand those more reflective people in your life, or somewhere in the middle, these laugh-out-loud doodles from Marzi's new book have you. MindBodyGreen in just one image, marzi captures what it is to be an introvert and have social anxiety. It seems so simple, and yet its so well done. My go-to Christmas gift.