Are Cash Incentives A Good Way To Motivate Employees?
February 2nd, 2010 |Preponderance of the companies and other establishments give their employees bonuses or in cash awards for their excellent, exceptional and extraordinary performance. Do you think this a good and excellent idea?
All of us work for one big purpose for us to earned money as good fuel towards our exciting journey in life. However there are some individuals who disagree on this argument. They believed that money should not be the basis of motivation to have an exceptional performance at work. They said it’s an unfair method or means of motivating the employees. Meanwhile others love this simple yet a very practical motivation, a gift which is money for a statement “a job well done”. I firmly believed that while there are other situations or scenarios where cash is the best recognition for extra or a good work, there other times it is also inappropriate.
We failed to realized that other employees motivated with various or different things. Some of them have financial goals, others have personal and professional goals. In my experienced, I worked as a registered volunteer emergency room nurse and for almost a year I was not able to received my salary, but the bright side of this I have gained hospital experienced. I strongly believed for nurses in the Philippines, hospital experienced is the key to work overseas and compensation greatly awaits whoever gets lucky.
Furthermore, in a realistic way of thinking, considering the present condition of our local and global economy, it is evidently unstable and unpredictable. Basic commodities mainly food supply even have shortages at various points thus increasing its prices, fuel price is also sky rocketed, incentives should be well implemented If the company has experienced larger amount of profit to cover up any deficits or underpaid employees. In a situation where in the employer would utilized monetary aspect as form of motivation, chances are they cannot fairly gauge or determined the performance level of a particular employee. It may even lead to laziness that would result into decrease productivity level.
For the past few years, majority of major companies around the globe have experienced recession, downgraded or cutting more employees for cost saving reasons for them will be able to sustain the production activity, and cope with such crisis that mostly experienced by giant economy like United States of America, United Kingdom, other nations in Asia like Japan, South Korea, China. Furthermore even compromised the bonuses, privileges of their employees. For whatever reason behind, this is a call for us to adapt some changes, and modify our way of living. Our needs should be prioritized not just for survival but for the generations to come and be flexible enough. We always have to see the bright side of whatever economics undertaking we encounter.
Therefore in conclusion, that monetary motivation as form of reward for the employee should used properly and would not be a constant method of giving recognition or reward whatever employee found to have exceptional and outstanding performance. There should be a sense of equilibrium or balance and should used properly. I would suggest that a form of plaques, and certification may even useful way of rewards.
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