Financial reward or pay is a core component of employee motivation. Eminent thinkers such as Maslow, McGregor, Tolman, Locke, Pavlov, etc have contributed to our understanding of workplace motivation. Based on a synthesis of their theories, we are in a position to ascertain how key a role pay plays in motivating employees and enhancing their performance. The rest of this essay will attempt to do the same.
Motivation theory is not a single monolithic framework of analysis, but rather a product of contributions from various fields/disciplines within humanities. The intellectuals mentioned above have offered their theories from the perspective of their respective fields/disciplines. For example, Maslow, McGregor, Alderfer, McClelland have emphasized the physiological basis of employee motivation, whereas scientists such as Locke, Vroom, Kelly and Tolman have presented the cognitive basis of motivation. Social/behaviourist theories of . . . Read More