Question: While fair compensation can be important, is pay always the most effective motivator for long term employee retention and satisfaction? This discussion will jump into
While fair compensation can be important, is pay always the most effective motivator for long term employee retention and satisfaction? This discussion will jump into the topic and look for alternative strategies beyond pay.
**I work at a bakery as a barista in a mountain town. Pay certainly motivates me as I have been there for three years**
Explain your reasoning and suggest 2-3 alternative or complementary motivational strategies you could also utilize along with pay.
In your responses, describe the source(s) of motivation (page 372). and
Which theory best supports your argument for motivational strategies (pages 375-388). How does this theory support your reasoning?
Considerations:
@ ecampus.vitalsource.com M eCampus: Contemporary Management: 2024 Release LO13-3 Explain how goals and needs motivate people and what kinds of goals are especially likely to result in high performance. Srmeiaeemli 10134 Identify the motivation lessons that managers can learn from operant conditioning theory and social learing theory. LO13-5 Explain why and how managers can use pay as a major motivation tool. Page 371 A MANAGER'S CHALLENGE Chieh Huang Makes Working for Boxed More than Just a Job Which ways of managing employees will motivate them best? After selling the first company he foundedAstro Ape, a creator of games for mobile devicesChieh Huang wanted to try his hand at starting another kind of business. Looking for an unmet need, he realized that the low-cost advantage of buying goods in bulk at warehouse clubs like Sam's Club and Costco was unavailable to many people because they lived too far from an outlet or couldn't afford the membership fee. He applied his tech knowledge to developing a way to order bulk items like toilet paper and snacks on a mobile phone and have them delivered at an attractive price.' Huang called his company Boxed and defined its mission as making shopping in bulk \"easy, convenient and fun.\" Soon after its launch, the company landed a profile on the Today show, and orders began flowing in. Boxed has grown profitably through careful logistical planning, limiting inventory to the most popular products, and adding personal touches such as a handwritten note in each box. As the company scaled up, Huang pursued an additional opportunity: selling his software to other retailers seeking a presence on mobile devices. The company now has 500 employees, and in December 2021, it went public, valued at $900 million.2 ~ For Boxed CEO Chieh Huang, running a business is about much more than profits. Treating employees well helps the company thrive in the highly competitive e-commerce space. Rick Kern/Getty Images Entertainment/Getty Images For Huang, running a business is about much more than generating profits. He also prioritizes the treatment of Boxed's employees, saying, \"What drives me personally is to show a future generation that you can be kind to the folks in your company and stil do well3 This is immediately evident at the company's headquarters, where everyone, warehouse workers and executives alike, uses the same entrance, rest rooms, and break room. Huang's hiring practices include asking questions designed to screen out managerial candidates who might be inclined to look down on their workers. 4 Kindness to employees at Boxed goes beyond treating all with dignity to recognizing that warehouse jobs pay at a level that meets industry norms but is insufficient for covering more than day-to-day needs. Huang can relate to the situation, having seen the hard work and tight budgets of his parents, who are immigrants from Taiwan. When he noticed that not all employees could get to company events because they lacked access to transportation, he considered how he could make their lives easier. His solutions include offering employees a $500 emergency fund, subsidies for life events such as weddings, and tuition benefits for their children. Huang also makes a point of visiting warehouses every week to stay in touch with employees there. Other employee benefits make total compensation generous for an e-commerce business. Employees receive health insurance, not always an option in low-wage occupations, as well as at-work amenities such as free food. Huang says the payoff for Boxed comes in the form of employee commitment and loyalty, with lower turnover among employees than is typical for his industry. This reduces the cost of constantly training new people. Huang's approach to creating a positive work climate is not always easy; e-commerce is under intense pressure to keep costs down. Huang recognizes that automation can make operations more efficient at the cost of some jobs. Boxed prioritizes creating new opportunities where possible, and key managers have worked their way up from warehouse positions. Huang says he considers Boxed a success if other companies follow its lead in treating employees welland maybe they will. Target and Walmart each recently announced the addition of tuition reimbursement benefits for their employees.\" Page 372 Overview Even with the best strategy in place and an appropriate organizational architecture, an organization will be effective only if its members are motivated to perform at a high level. Chich Huang, founder of Boxed, clearly realizes this. One reason that leading is such an important managerial activity is that it entails ensuring that each member of an organization is motivated to perform highly and help the organization achieve its goals. When managers are effective, the outcome of the leading process is a highly motivated workforce. A key challenge for managers of organizations both large and small is to encourage employees to perform at a high level. In this chapter, we describe what motivation is, where it comes from, and why managers need to promote high levels of it for an organization to be effective and achieve its goals. We examine important theories of motivation: expectancy theory, need theories, equity theory, goaksetting theory, and learning theories. Each gives managers
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