Motivational
factors also determine the employee retention in an organization. When it comes
to motivation, there can be a few categories. It can be categorized as monetary
& non-monetary motivations, as another category it can be categorized as
integrative & instrumental and the next is Intrinsic Motivation &
Extrinsic Motivation (Orhan, Cetin and Imran, 2011).
Intrinsic and Extrinsic is the most common classification. Intrinsic motivation are arises from the inside of individuals it is based on the beliefs and values of the individual and which are very powerful. Some of the examples of intrinsic motivations are acceptance, curiosity, honor, independence, order, power, social contract, social status and etc. Extrinsic Motivation is something that arises from the outside and which are not controllable too. They are: awards benefit packages, bonuses and etc. The issue here is, as discussed employee retention is a challenge and motivational factors can influence the employee retention but to identify the actual motivational factor to an employee to be motivated is a challenge in today’s business context because it varies person to person (Tengku, 2012).
Intrinsic motivational factors are more or less same and sometimes it is very much important and powerful comparing to extrinsic motivational factors. Once these factors are not considered properly , there is no doubt that it will lead to employee attrition and turnover (Gayatri, 2013).
Intrinsic and Extrinsic is the most common classification. Intrinsic motivation are arises from the inside of individuals it is based on the beliefs and values of the individual and which are very powerful. Some of the examples of intrinsic motivations are acceptance, curiosity, honor, independence, order, power, social contract, social status and etc. Extrinsic Motivation is something that arises from the outside and which are not controllable too. They are: awards benefit packages, bonuses and etc. The issue here is, as discussed employee retention is a challenge and motivational factors can influence the employee retention but to identify the actual motivational factor to an employee to be motivated is a challenge in today’s business context because it varies person to person (Tengku, 2012).
Intrinsic motivational factors are more or less same and sometimes it is very much important and powerful comparing to extrinsic motivational factors. Once these factors are not considered properly , there is no doubt that it will lead to employee attrition and turnover (Gayatri, 2013).
Reference
Gayatri, N. (2013) Employee Attrition. International Monthly Refereed Journal of Research in Management and Technology, 2(1), p.58.
Orhan, C., Cetin,B and Imran, A. (2011) A motivation study on the effectiveness of Intrinsic and Extrinsic Factors. Economics and Management, 1, p. 690.
Gayatri, N. (2013) Employee Attrition. International Monthly Refereed Journal of Research in Management and Technology, 2(1), p.58.
Orhan, C., Cetin,B and Imran, A. (2011) A motivation study on the effectiveness of Intrinsic and Extrinsic Factors. Economics and Management, 1, p. 690.
Tengku, S.T.M. (2012) Motivation, its types, and its
impact on language learning. International
Journal of Business and Social Science, 3(24), pp. 3-5.
In today’s context of the business world, since the employee-employer relationship is not planned for a long term, employees are more self oriented and they are more focuses on the career development. On the other hand they like the challenge in work and in development perspective they have more concern on the training. (Vincent and Paul, 2018) Therefore if an organization can provide them I hope employee retention can be improved up to some extent.
ReplyDeleteReference:
Vincent, N. and Paul, A. (2018) ‘Employee Motivation and Retention: Issues and Challenges in Startup Companies’, International Journal of Creative Research Thoughts (IJCRT), 6(1). doi: 10.1729/IJCRT.17290.
motivational factors differ from generation to generation of employees, motivating factors of Gen X is not identical to baby boomer generation employees
ReplyDeleteJurkiewicz, C. L., & Brown, R. G. (1998). Generational Comparisons of Public Employee Motivation. Review of Public Personnel Administration, 18(4), 18–37.
Thanks guys for your input.
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