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When motivating employees, managers can use a range of strategies - VCE - SSCE Business Management - Question 4 - 2020 - Paper 1
Question 4
When motivating employees, managers can use a range of strategies. Evaluate two different motivation strategies. Identify and justify which one of these strategies ... show full transcript
Worked Solution & Example Answer:When motivating employees, managers can use a range of strategies - VCE - SSCE Business Management - Question 4 - 2020 - Paper 1
Step 1
Evaluate two different motivation strategies.
Answer
In this evaluation, I will discuss the two motivation strategies: monetary rewards and career development opportunities.
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Monetary Rewards: This strategy includes bonuses, salary increases, and other financial incentives that can effectively boost short-term motivation. Employees often feel a sense of immediate satisfaction when they receive a financial reward, which can lead to increased productivity in the short run. However, this strategy may lack sustainability as employees may quickly adapt to these rewards, and they may not provide lasting motivation.
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Career Development Opportunities: This strategy involves providing employees with training and advancement potential within the company. While it may not offer immediate gratification, it tends to be more effective for long-term motivation as it fosters a sense of belonging and personal growth. Employees see a clear path for their future, which can lead to increased loyalty and job satisfaction over time.
Step 2
Justify which strategy would be most effective for the short-term motivation of employees.
Answer
Monetary rewards would be the most effective strategy for short-term motivation. This is because financial incentives provide immediate recognition of an employee's hard work, creating a boost in morale and encouraging higher performance levels right away. Employees may feel incentivized to go above and beyond in their responsibilities when they know that they can receive a bonus or a raise.
Step 3
Justify which strategy would be most effective for the long-term motivation of employees.
Answer
Career development opportunities would be the most effective strategy for long-term motivation. By investing in employees' skills and facilitating their growth, organizations create an engaged workforce that is more likely to stay with the company over time. This approach helps employees feel valued beyond monetary compensation, enhancing commitment and reducing turnover rates.