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Motivating employees: Is money or recognition more appreciated?

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Money

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by Thomas Kurkoski

Created on: December 29, 2008

People work to earn money. I have yet, in my thirty-one years, ever come across anyone who works for the fun of it. People work to make money, plain and simple. In America there are essentially two types of business; big and small. I will evaluate both of these with respect to their employees and the influence of money as a motivator.

I personally prefer to work for small business. They are better suited to te needs of their employees and the ones I have worked for still understand things like Christmas bonuses. They have, inmy experience, always gone above and beyond my expectations , be it scheduling, income, or just being friendy. It was a small business owner I worked for that first told me there are only two ways to motivate employees: schedules and money. Staying true to this, he gave bonuses and adhered to his word when making the schedule. Furthermore, once every six months, based on my performance, he gave me an evaluation and increased my pay accordingly. That motivated to work harder and smarter for him. Granted, he would frequently pat me on the back and say good job, but to him that was just part of recognizing that hey, this guy is working hard for me, but if I want to keep him, I'd damn well better show him that with something tangible. Now, due to a variety of circumstances, he ended up having to close the business. Had his doors not closed I am quite sure I would still be working for him.

The other type of business is big business. The corporation. The bane of the American economy. For almost three years I worked for one of the largest banking institutions in the world. On the outset the hourly wage they offer is typically above par for the economic climate of the region. That, unfortunately, is as far as it goes. he only people bonused, or motivated by money, are the board members and upper level management. When I worked for them all I ever got was an occasional thank you, forced overtime, and a crappy schedule. If ever there was a group of companies that could afford to show their employees their value, it would be large corporations. They have the money to spend. Alas, they do not do it though. They expect the employee to work harder simply by saying: "Thanks for all your hard work, you did a good job today." The ethereal givings, such as the aforementioned, don't do nearly as much as something tangible for the employee. Say, a better schedule and/or more money. Again, people work to make money, not get hollow compliments from faceless automatons via email. To further illustrate my point, through my tenure with the company I saw them take away employee stock sharing, some retirement benefits, and annual raises. You do the math on that one, are things like that going to motivate the employees?

To finish, people work to accrue some sort of wealth. It helps if they find a job they enjoy, but they will never just work for the fun of it or to get a compliment. If employers want to motivate their employees they must show them that with increased wages. Money and schedules motivate people, not words or sub-standard "gifts".

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