Don't (Just) Pay Your Employees More

In today's competitive job market, it's more important than ever for businesses to prioritize the well-being and satisfaction of their employees. While paying your employees a fair wage is crucial, it’s also important to recognize that fair compensation and bonus pay are just one part of a positive work environment. There’s so much more to consider.

Motivation is another key factor that contributes to a positive workplace, long-term satisfaction, and loyalty. In ‘Summary of Organizational Behavior’ (2019) Robbins and Judge define motivation as “a reason for engaging in a particular behavior towards attaining a goal”. Motivators are personal and experience considerable flux.?

The Cognitive Evaluation Theory states that “if we are extrinsically awarded for behavior which was previously intrinsically rewarding, then the general motivation level drops” (Robbins and Judge 2019). Basically, when you give that external award, which is all but permanent, the reasons to work change, and intrinsic motivation are lowered. Examples of extrinsic rewards are bonuses, salary increases, and verbal praise. Preserving intrinsic motivation is crucial because studies suggest that people whose work goals are connected with intrinsic motives achieve higher job satisfaction and perform better. Not to mention that feeling of goodwill following bonus pay dissipate after just six weeks.

So don’t just pay your employees more. Find out what motivates them personally to work and nurture it.

Source: https://www.worldsupporter.org/en/chapter/39178-summary-organizational-behavior-robbins-judge?