Introduction
Money
, since its Use synonyms
first
appearance nearly 5,000 years ago, has exerted far-reachingLinking Words
Body paragraph 1
impact
on every aspect of Suggestion
Impact
humans'
life. From being used as a medium of exchange toSuggestion
human
Body paragraph 2
serving
as a store of value, Suggestion
Serving
money
has been so widely preferred that some peopleUse synonyms
Body paragraph 3
claimed
that higher salaries were better than other incentives for motivating workers.Suggestion
Claimed
Body paragraph 4
From a personal perspective, I strongly disagree with
this
statement, basing on twoLinking Words
Body paragraph 5
potential
unwanted consequences of financial incentives, namely pay inequality and aSuggestion
Potential
Body paragraph 6
reduction
in intrinsic motivation.Suggestion
Reduction
Body paragraph 7
It is a truth universally acknowledged that the more considerable a monetary reward is,
Body paragraph 8
the
more likely it is to cause inequality among employees. Apparently, a promotion inSuggestion
The
Body paragraph 9
salaries
for some workers can arouse the feeling of jealousy from others who do not getSuggestion
Salaries
Body paragraph 10
the
same extra Suggestion
The
money
, Use synonyms
thus
having undesirable influences on the overall productivity.Linking Words
Body paragraph 11
One distinctive example of
this
, taken from a research in the article "The Problem withLinking Words
Body paragraph 12
Financial Incentives - and What to Do About It", describes the case in which major
Body paragraph 13
league
baseball teams with greater gaps between highest and lowest payment lose moreSuggestion
League
Body paragraph 14
games
than those with a stricter control over paying among team members. The Suggestion
Games
money
Use synonyms
Body paragraph 15
undoubtedly
made members at the top feel great and perform better, but at the sameSuggestion
Undoubtedly
Body paragraph 16
time
could not compensate for the loss coming from those who are Suggestion
Time
in
the bottom. WhatSuggestion
at
Body paragraph 17
is
more, being paid less than others might create a sense of depreciation for someSuggestion
Is
Body paragraph 18
laborers
. At Google in 2014, multimillion-dollar stock grants were awarded to majorSuggestion
Labourers
Laborers
Body paragraph 19
contributors
with a view to maintaining important employees. The programSuggestion
Contributors
Body paragraph 20
unfortunately
turned out to be a Suggestion
Unfortunately
mistake since
it raised resentment and Accept comma addition
mistake, since
feeling
ofSuggestion
a feeling
feelings
Body paragraph 21
discrimination
in those without the bonuses ("The Problem with Financial IncentivesSuggestion
Discrimination
-
Accept space
-
Body paragraph 22
and
What to Do About It", 2019). Clear as it may seem, the more does not always meanSuggestion
And
Body paragraph 23
the
better, not to mention the worse.Suggestion
The
Body paragraph 24
Not only can a rise in
salaries raise
unfairness in Suggestion
salaries, raises
salaries raises
payment but
it can lead to a decline inAccept comma addition
payment, but
Body paragraph 25
intrinsic
impetus of the workers as well. In his article, Chamorro-Premuzic (2013)Suggestion
Intrinsic
Body paragraph 26
mentioned
an engagement research Suggestion
Mentioned
on
1.4 million employees across 34 nations,Suggestion
in
Body paragraph 27
revealing
that there was little connection between job satisfaction and pay level. In otherSuggestion
Revealing
Body paragraph 28
words
, extra Suggestion
Words
money
Use synonyms
does not result
in engagement. To make Suggestion
do not result
matter
worse, there is aSuggestion
matters
Body paragraph 29
likelihood
that the more employees focus on a pay rise, the less they concentrate onSuggestion
The likelihood
Likelihood
Body paragraph 30
their
Suggestion
Their
work
itself, Use synonyms
thus
enjoy what they do less and less. Linking Words
This
can be seen through anotherLinking Words
Body paragraph 31
metal
-Suggestion
Metal
analysis including
128 experiments wherein a decrease Accept comma addition
analysis, including
by
36% in Suggestion
of
laborers
’someone who works with their hands; someone engaged in manual labor
labourers
Body paragraph 32
Version: 1
Body paragraph 33
intrinsic
motivation happened when the financial incentives were foreseeableSuggestion
Intrinsic
Body paragraph 34
(Chamorro-Premuzic, 2013). In
this
case, the Linking Words
money
-relating method produced anUse synonyms
Body paragraph 35
adverse
effect on the working spirit of employees by making the financial reward theSuggestion
Adverse
Body paragraph 36
final
goal of the job, not the complement of the product itself. Payment rising is one ofSuggestion
Final
Body paragraph 37
the
ways, but it surely cannot be entitled the best when applied to motivate workers.Suggestion
The
Body paragraph 38
Although
advocates of cash-based incentive might argue that it can make people striveLinking Words
Body paragraph 39
harder
to perform their tasks, Suggestion
Harder
this
school of thought can be demolished by the method'sLinking Words
Body paragraph 40
“
after-effect
”. The reward itself makes receivers Suggestion
Aftereffect
Aftereffects
After-effect
contemporarily
feel more excited aboutcharacteristic of the present
contemporary
Body paragraph 41
the
Suggestion
The
work
, but cannot retain their Use synonyms
work
ethic in the long run. An experiment studying theUse synonyms
Body paragraph 42
reaction
of employees at a manufacturing facility at (chemistry) a process in which one or more substances are changed into others
Reaction
first
showed a slight “up” inLinking Words
Body paragraph 43
laborers’
productivity when they were given monetary rewards, yet a “drop” happenedSuggestion
Labourers
Laborers’
Body paragraph 44
once
they no longer got them (Rimon, 2016). It is not hard to see that the dedication toSuggestion
Once
Body paragraph 45
the
job was gradually distorted by a tangible profit that will have to be raised from timeSuggestion
The
Body paragraph 46
to
time. Undeniably, once adopting the cash-based methods, companies will have noSuggestion
To
Body paragraph 47
choice
but to stick to it for fear of productivity decrease. And by doing so, an unhealthySuggestion
Choice
Body paragraph 48
working environment
is being built, which will eventually ruin the system.Suggestion
The working environment
Working environment
Body paragraph 49
Though the benefits of financial incentive are palpable, it still creates potential
Body paragraph 50
unintended
Suggestion
Unintended
consequences including
payment inequality and intrinsic motivationAccept comma addition
consequences, including
Body paragraph 51
decrease
, which may pose a threat to the long-term development of the business. Suggestion
Decrease
Thus
,Linking Words
Body paragraph 52
it
is advisable to consider alternative means Suggestion
It
such
as verbal recognition in encouragingLinking Words
Body paragraph 53
workers
. Not until the leaders are able to make the Suggestion
Workers
work
itself enjoyable will theUse synonyms
Conclusion
employees
contribute their best to the company.Suggestion
Employees