Wednesday, September 25, 2019

Read the article first, then answer the question Assignment

Read the article first, then answer the question - Assignment Example Public praise and recognition are examples of intrinsic rewards, while tangible rewards in the workplace such as promotions are examples of extrinsic rewards. A good leader is able to inspire others through his actions, words, and job achievements. In workplaces were the bosses show favoritism employees often get discourage and lose motivation. Felt inequity in the workplace is a factor that destroys motivation. Equity theory states that employees will react based on their felt perception of fairness and justice (Managementstudyguide). Motivating the employees is in the best interest of the manager or leader. Employees that are motivated are more likely able to achieve job satisfaction. â€Å"In order for an organization to be successful they must continuously ensure the satisfaction of their employees† (Arizona). Companies that have motivated staffs suffer from lower employee turnover rate. Losing employees is not in the best interest of companies since employee churn hurts the company in terms of training cost, productivity, and recruiting expenses. In the case study Bonuses can Backfire the company made the mistake of relying solely on bonuses to motivate employees. The use of rewards can reduce the employees’ intrinsic interest in the task they are supposed to perform. A more effective strategy is for a manager to combine the use of intrinsic and extrinsic rewards. It is important for employees to get the moral support of their superiors. Often intangible rewards such as telling a worker that they did a good job at the end of the shift can inspire the employee. Sometimes employees cheat the system and act in unethical and illicit manners in order to obtain a financial reward. Kenneth Fay, former CEO of Enron, is an example of an executive that falsified financial information to obtain an economic benefit. His bonuses were tied to the financial performance of the corporation. Companies must never

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