Part 1- Introduction The report contains the...
Types of Motivation Theories in Leadership & Management
Theories of Motivation
Types of motivation theories in leadership & management discuss motivation theories importance in management. Motivation can be define as the process of motivating someone towards achievement of organisational objectives or personal objective. Motivation is a systematic process that enables management or managers to motivate their employees towards achievement of desired goal or objectives. There are many motivational theories, but two common and widely used motivational theories that I studied during course are as follows:
Under this theory I have learned that in everyone’s life there is hierarchy of need i.e. level of needs of individual. Maslow states that person does not require higher need until and unless current need is fulfilled.
I have learned how to apply Maslow’s Theory on the business organisation and it is as follows:
- Physiological Need-Provide adequate remuneration or salary to employees so that they can earn essential items for life.
- Safety need- Job security, safety in terms of workplace and freedom to take their own decisions.
- Social need- Develop feeling of belonging, accept each and accept every employee in the team.
- Esteem need- Highlight achievement of individual team member, employees shall be appreciated for good doing; responsible employees shall be assigned important tasks, etc.
- Self-Actualization- in this stage of motivation I have learned to provide work that involves creativity, innovation and progress, long term goals shall be discussed with and input for the same shall be taken.
I have learned that in this theory, Motivational factors at work place or in working environment that provides satisfaction and dissatisfaction to employees shall be determined. Those factors that satisfies employees then they are motivators and those factors which provide dissatisfaction are hygiene factors. Some satisfying factors are achievement, flexible working environment, responsibility, advancement, growth, etc. Dissatisfaction factors can be company policy, adverse relationship with managers or leaders, low salary, relationship with colleagues, etc. Therefore I can conclude that if any of the satisfaction factor or dissatisfaction factor occurs then decision by the manager or leader can be taken manager to motivate employee or not to motivate.
Contemporary approaches to reward management
There are many reward management approaches that is organisation can adopt for managing their reward system. Following are some reward systems that I have learned during my course:
- Strategic sense- Under this reward approach, management is focused on long term basis i.e. long terms reward system is developed under this system. This is linked with the overall business strategy.
- Total Reward Approach- It has influence of both financial and non–financial approach and this approach is integrated with human resource management strategies.
- Differential reward approach- Under this approach, reward is established on the basis of contribution made by the employee of the organisation on business operations.