PAY AS A MOTIVATOR: AN OVERVIEW

Abstract

The primary function of management is the achievement of organizational objectives. The modern philosophy of management is to achieve this goal through employees' voluntary cooperation. To obtain such cooperation management must create conditions under which employees can achieve their own personal goals best by working toward the achievement of organizational objectives. Hence, incentives, job satisfaction, motivation, and employee-management relations have become primary concerns of management. Employee motivation is a broad and complicated field in itself. Therefore, most studies have been concentrated in finding certain relationships between motivation and some contributing factors such as age, sex, level in the organizational hierarchy, education, needs fulfillment, intrinsic factors, hygiene factors, etc. Although pay has been the most important motivator in this society from the beginning of industrial development, surprisingly enough, there has been very little study in the area of psychological aspects of pay.