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As you learned from this week’s reading, money has social value and can satisfy many drives and needs of employees (Newstrom, 2015), but can this value suffice on the long-term?
In our first chapter, we learned about the six basic concepts that constitute the Law of Individual Differences (Newstrom, 2015, pp. 9-10); and the three concepts achievement, affiliation, and power motivations. Based on the expectancy theory, motivation is the result of a set of internal and external forces that causes an employee to choose an action and engage in certain behaviors (Newstrom, 2015, p. 116). Some employers are under the assumption that rewarding employees with money is sufficient for them to get the job done. They also believe it is the employees’ responsibility to stay motivated, since the employer is rewarding them with money; therefore, they need to be motivated. Inexperienced supervisors and/or managers assume the job will get done, due to the employee showing up for work since he/she is getting paid to do the job. These supervisors and/or managers do not realize that an employee, who is motivated at work, will be satisfied, engaged and committed to the organization; therefore, the organization will benefit as a whole. But, how about the unmotivated employees, what do you think they are doing to the organization?
Due to the slow growth in the economy, some companies with the goals of stabilizing their workforce and preserving employee jobs are constantly retraining employees, have reduced overtime; freeze the hiring of vacant positions; have encourage job transfers and/or relocations; and, have offered early retirement incentives (Hinkin & Schriesheim). While other employers have learned to motivate their employees through different means that do not correlate to monetary rewards, but the focus has been on the employee as an individual and/or team achievements. Based on the Alderfer’s E-R-G Model (Newstrom, 2015, pp. 124-125), how would you develop employee growth within your company with no funding resources?
Please support your answer with the scholarly peer-reviewed references and citations. This answer has to have a minimum of 50 words. Your answer has to come from the information above, but specifically make sure the questions in bold print are answered.