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Essay / Research Paper Abstract
This 6 page paper considers the role of wages in the motivation of employees and considers how companies may interpret the role of a pay system as a tool to increase productivity. The bibliography cites 6 sources.
Page Count:
6 pages (~225 words per page)
File: TS14_TEpaymot.rtf
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Unformatted sample text from the term paper:
medical insurance and other non financial benefits. However, these are all tangible returns for the use of skills or labour. It has been argued where there is a good remuneration
system there will be an increased level of motivation and productivity will increase. The way that a payment system is set up ill depend on many aspect, including the
legal environment and the culture of the company and the commercial environment. If we look at the Anglo American economic model it is becoming more normal for individual salaries to
be negotiated on the contribution and perceived value of the individual employee. The theory is that those who contribute the most are better rewarded in order to better motivate better
performance. However, in other nations, such as Germany, the practice has been one of equal pay for all individuals undertaking the same
role with pay increases being negotiated on a national basis by the unions and being legally binding on both sides. The organisations who practice this universal pay scale scheme
believe that there is more to employee motivation than only financial rewards, whilst those who favour individual pay bargaining believe that the pay structure is also suitable to be used
as a motivational tool in order to achieve the best from their employees. The question to be answered remains; what is the use and effectiveness of pay as a motivational
tool. Considering the motivation of employees is a fairly recent event in the workplace. There have been many theories on the best method
of gaining the highest production levels out of an employee, starting with Taylors scientific management. This was based on Adam Smiths hypothesis of economic man, where the motivation to work
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