HR Motivation
Many HR performance issues result underlying motivational problems external work environment finance. Describing a motivational problem hinders goal attainment. Briefly describe problem (,) Use theory motivation explain problem
HR performance issues:
Motivational problems in the financial services industry
"Often an employee knows how to perform correctly, the process is good, and all resources are available, but for one reason or another, chooses not to do so, which normally means it is a motivational issue" (Clark 2010). In the past, during the era of scientific management, motivational issues were dealt with by rigorously governing employee movement in a very strict and controlled fashion. However, this can stifle employee creativity and enthusiasm for the task. The obvious motivator for most people to work is money. For example, in the financial services industry, money is a major motivator in terms of how salary and compensation is structured. The expectation of a large Christmas bonus is designed to encourage workers to perform at a high level throughout the year. At some firms, 60% of the overall salary of financial workers is derived solely from bonuses (Pauly 2009). But this externally-focused method of motivation has come under a great deal of criticism. This paper will use the theory of external vs. internal motivation in financial services to examine if it is possible to use different motivational factors to create more financial stability in the world economy and a less short-term-focused attitude, by using examples of intrinsic motivators in other industries.
Short-term thinking on the part of employees who are anxious to take high-payoff risks because of the extreme importance invested in bonuses, have been blamed for at least some of the problems that caused the credit crisis of 2008. And in terms of the workplace culture of respect, the amount of the bonus takes on additional importance in the eyes of workers, in a manner that makes it even more significant than any real value it might possess. With this in mind, Wall Street and the financial service industry in general has begun to curtail the...
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