Impact of motivation on business performance
Businesses try to put these theories into practice by ensuring employees receive what will motivate them.
Financial incentives
Financial factors undoubtedly motivate people to some extent so businesses try to use money and pay as an incentive. For example, some people are paid a wage that depends on the number of hours worked, whilst others are paid according to the amount of work they do, e.g. drivers for companies like Deliveroo are paid per delivery.
Non-financial incentives
However, almost all theorists agree that factors other than money motivate people, e.g. for Maslow, love, belonging and respect are important motivators. This is why businesses also offer other benefits to try to attract and motivate employees, such as health plans, staff rewards and so on.
Pause for thought
Follow the link to see the benefits of working for Gwynedd County Council:
Look at the benefits the Council offers to its employees.
Try to decide if they are financial or non-financial.