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Some employers reward members of staff for their exceptional contribution to the company by giving them extra money. This practice can act as an incentive for some but may also have a negative impact on others. To what extent is this style of management effective? Are there better ways of encouraging employees to work hard?

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The excellent performance of the staff in an organization is usually rewarded in various ways and monetary rewards to the best performer are on increasing trend these days in most of the organizations.
Although
 it motivates the employees to
work
 harder,
however
, some people are of opinion that
such
 rewards execute a negative impact on other workers. In my viewpoint, extra
money
 along with other ways of motivation will encourage the working personnel to perform better.
Firstly
, all the workers working in an organization has only one objective- to earn
money
. No matter how cordially we may deny the fact, we
work
 in order to get the
money
 which is paid to us on weekly or monthly basis. To fulfil various personal or social needs,
money
 is needed and the extra
money
 earned by being the best performer is going to make the things easier and is the best motivation to
work
 more and better.
Secondly
, monetary rewards do not create a negative influence on workers in an organization; rather they are stimulated to become an excellent performer
next
 time. I can exemplify it through my personal experience. I
work
 in a multinational company where best employee of the month gets about Rs. 5000 as a reward and a certificate. It has done wonders in the company, as every member of the team wants to become an achiever to attain prestige and reward,
thus
 bringing a healthy competition in the environment.
Also
, other kinds of inspirations like appreciation letters, extended holidays and tour tickets can give short-term results, but to ignite the spark of hard-
work
 in staff,
money
-rewards will have long term affects.
Moreover
, other types of stimulations have restricted utilization, whereas
money
 can be used as one desires. In a nutshell, it is wise to say that
money
 along with other ways of motivation like an appreciation letter from boss to recognize one’s efforts is surely going to make one
work
 harder and smarter.
Submitted by ravneet89.sidhu on

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