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Rewards and Motivation 1

Rewards and Motivation 1 - • By whom • At what level...

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Rewards/ Compensation and Motivation Rewards in drive/ needs model: o Possible satisfier of needs Rewards in equity model: o Possible important outcome Rewards in goal setting model: o Either goal itself or reward for goal accomplishment Rewards in reinforcement model: o Possible positive reinforce Rewards in expectancy model: o Possible valued outcomes Intrinsic (provided by job) vs. extrinsic (provided by others) rewards: o Intrinsic rewards can be strengthened by making jobs more engaging and meaningful Meaning from jobs w/ autonomy, mastery, significance Engaging jobs improves attitudes and participation Does this improve performance? All else equal, yes Implications for organizations: Need jobs w/ intrinsic rewards But, extrinsic are crucial too Building effective rewards system: o Questions about money: Is money valued?
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Unformatted text preview: • By whom? • At what level? Does the amount make a difference? • Equity perceptions? • Bases for comparisons? o Compensation for what? What do firms pay for? • Membership and/ or seniority • Status/ worth of the job • Skills or competencies • Performance • Some combination of things • The process (procedural justice): o Wages and salaries o Individual based: Bonus Commissions Piece rate o Team based: Bonus Gain sharing: business shares portion of gain w/ team who helped get the gain o Organization based: Profit sharing Employee stock ownership plans Stock options Some combination of these o Which should be more motivational?: Organization based requires profitable company Individual based is most motivational...
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Rewards and Motivation 1 - • By whom • At what level...

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