Motivation Theories -- Practical Vocational

Motivation Theories -- Practical Vocational Applications

Theories of Vocational Motivational

Generally, there are five major theories of employee motivation: Adams' Equity Theory, Herzberg's Two-Factor or Hygiene Theory, Maslow's Hierarchy of Human Needs, Skinner's Reinforcement Theory, and Vroom's Expectancy Theory (George & Jones, 2008). In principle, Adams' Equity Theory suggests that employee satisfaction is largely a function of the degree to which the individual perceives a fundamental fairness and equality (or equivalency) with respect to the way other employees are treated by employers. According to Herzberg's Two-Factor Hygiene Theory, employee satisfaction is substantially dependent on motivational factors and hygiene factors. More specifically, motivating factors are those positive rewards that motivate performance and positive attitude; meanwhile, hygiene factors (such as pleasant work environment and other work-related circumstances) are those whose absence corresponds to a decrease in satisfaction and motivation (George & Jones, 2008).

The fundamental basis of Herzberg's Hygiene Theory is in the earlier theory of human psychological development conceived by Maslow (Daft, 2005). Maslow defined a five-stage hierarchy of human needs of which the third and fourth (social needs and need for the esteem in the eyes of others, respectively) are most relevant to employee motivation. More specifically, employee motivation can be a function of the degree to which individual employees value the social bonds and the peer and organizational-based appreciation or respect for their efforts (Daft, 2005).

Skinner's theory of employee motivation is mainly the application of his more general principles of positive reinforcement according to which organisms (including employees) tend to repeat behaviors that result in positive outcomes and avoid behavior that result in negative outcomes (Robins & Judge, 2009). Similarly, Vroom's Expectancy Theory suggests that employees are best motivated when they understand how their performance relates to positive results for them (Robins & Judge, 2009).

Motivating Productivity in a Financial Sector Organization

Generally, individuals who choose a career in finance are motivated by the pursuit of financial reward. In that regard, employee motivation in the vocational environment of lending component of financial institutions emphasizes commissions and bonuses which are most consistent with the Vroom/Skinner concept of vocational motivation. In the past, management has also attempted to motivate performance in a manner that is most closely described by Herzberg's Two-Factor Hygiene Theory because high volume is rewarded with bonuses, praise, and advancement opportunity while lower performance is not punished except through the absence of rewards. Management seems to believe that this approach allows the most talented and self-motivated employees to thrive. Generally, that has resulted in a situation where some employees are much more driven than others and some employees approach their positions and nothing more than a source of steady work and paychecks.

Implications of Applying Two Alternative Motivational Theories