In this light the study sets to identify the most ranked factors among the ten motivational factors. The analysis from the empirical findings showed that Job satisfaction” was the most ranked factor for both sub groups that made up the sample survey. However a study from previous researches used in this study showed that different results could be obtained from different groups of already working employees.
This study therefore can be seen as an introduction to a more detailed study to be carried by future researchers on the field of employee’s motivation.
Background When looking at factors that affect job satisfaction, I find that Agency theory might be helpful as it explains the extent to which organizations need to think of their human resource responsible in producing the output needed by organizations to meet shareholders value.
Agency theory is concerned with issues related to the ownership of the firm when that ownership is separated from the day-to-day running of the organization.
It assumes that in all but owner- managed organizations the owner or owners (known in agency theory as the “principal”) of an organization must vest authority to an “agent”-corporate management- to act on their behalf. The principal recognizes the risk, here and act on the assumption that any agent will look to serve its own as well as the principal interests as it ulfils it contract with that principal. However, this is not the situation in real life situation. As all agents are perceived to be Opportunistic. These approaches are to examine the problems of human exchange derived from the field of finance and economics but they are often applied to the study of shareholders Risk Management (SHRM).
Agency theory is therefore used to analyze this conflict in interest between the principal (shareholders of organizations) and their agents (leaders of these organizations).
Whereby the “Agents” in keeping with the interest of the shareholders and organizational goals turn to use financial motivational aspects like bonuses, higher payrolls, pensions, sick allowances, risk payments, perks to reward and retained their employees and enhance their performance. There is a strong lobby propounding the view that human resources and their management are the source of competitive advantage for the business, rather than, say, access to capital or use of technology.
It is therefore logical to suggest that, attention needs to be paid to the nature of this resource and its management as this will impact on human resource behavior and performance and consequently the performance of the organization. Indeed Boxall and Steeneveld (1999) argue that there is no need to prove the relationship between firm critical influence on performance and labour management as it is self evident that the quality of human resource management is a critical influence on the performance of the firm.
Concern for strategic integration, commitment flexibility and quality, has called for attention for employees motivation and retention. Given this perception, the principal in an organization feels unable to predict an agent’s behavior in any given situation and so brings into play various measures to do with incentives in other to tie employee’s needs to those of their organization. Thus getting employee’s identification with respect to the organization, and thus increasing their commitment level.
As an approach to mediate the employment contract, elements of human resource strategy (especially those to do with rewards and retention) can offer a way of ensuring an efficient transaction process that enables both parties to get committed towards the fulfillment of each other needs. The fundamental problem, dealt with is what drives or induces people to exploit their potential resources in the way they do in organizations? The issue of motivation and performance are they positively related?
By focusing on the financial aspect of motivation problem like bonus system, allowances perks, salaries, etc. By paying attention to the financial aspect of motivation, I intend to probe in to the role this aspect has on enhancing employee’s performance. I believe, financial motivation has become the most concern in today’s organization, and tying to Mallow’s basic needs, non-financial aspect only comes in when financial motivation has failed. Though in some situation, it is being operated side by side.
But as a research topic for my thesis I will employ the financial aspects of motivation used by the agents of organization in enhancing their employee’s performance and the extent to which non-financial aspects of motivation turn to enhance employee’s performance. To evaluate the methods of performance motivation in organization in organizing some motivational factors like satisfies and dissatisfies will be used to evaluate how employees motivation is enhanced other than financial aspects of motivation. Problem Statements As a research question, the research seeks to answer what role motivation plays in enhancing performance in organization. This will be possible through analysis of information gathered from students. Hence this thesis is mainly quantitative. * Objectives In trying to find an answer(s) to the research question and on the basis of the above background discussion and research question, the main purposes developed for this thesis is to assess the factors that motivate employees to perform best at work.
This is done by carrying out a survey in which respondents responding to a survey, ranked the least two most important factor on a list of ten factors, and how these factors influence them. * Limitations and Demarcations The limitation is being considered in relation to the natural explanation to which the researcher has limited the study and the active choices to limit the study area that is financial motivation as a determinant of performance. The study is limited to existing theories and models, and their influence and limitation on performance enhancement.
By considering the financial and non-financial aspect of motivation on employees’ performance relating to existing theories and models, I intend to mark a demarcation for the study. Here I have considered limitation in line with the research objective that is the study is limited. I believe that with the changing nature of the work force, recent trends in development, information and technology, the issue of financial motivation becomes consent on one of the most important assets in an organization.
A lot has been said on the outside forces of an organization. This research considers the inside forces as a starting point. Ideally, a study of all the explanatory variables will be considered appropriate in order to capture the interactive influences of other variables and thus be able to come up with holistic and generally more acceptable results, of financial motivation and performance. * Definitions Motivation: Motivation by definition refers to what activates, directs human behavior and how this behavior is sustained to achieve a particular goal.
Also it can be defined as the set of processes that arouse, direct and maintain human behavior towards attaining some goals. Jones (1955) argues that” Motivation is concerned with how behavior gets started, is energized, is sustained, is directed, and is stopped and what kind of subjective reaction is present in the organization while all this is going on. ” Role of financial motivation: The potential role of money is – (1) Conditioned reinforce (2) An incentive which is capable of satisfying needs (3) An anxiety reducer (4) Serves to erase feelings of dissatisfaction
Employee satisfaction: This refers to the positive or negative aspects of employee’s altitude towards their jobs or some features of the job. Organizational Goals: A concept, which refers to the focus of attention and decision-making among employees of a sub-unit. Organizing: This involves the complete understanding of the goals of organization, the necessity of proper co-ordination, and the environmental factors that influence the goals and employees within the organization. Employee attitudes: Mental state of readiness for motive arousal.