Contributions of Motivation Theories to the Design and Implementation of Employee Reward Policies

Abstract

Human capital is one of the most critical resources of any organization. An organization's success is heavily determined by personal motivation, which is important for the fruitful performance of job-related activities. As a result, organizations strive to keep their employees motivated to increase productivity and interest in the company's goals. An organization can establish various plans to retain employees by creating a work environment with which employees are satisfied. This chapter examines the contribution that employee motivation theories can make in the design and implementation of an employee reward policy and shows the connection between reward, motivation, and performance. The focus will be on some of the most relevant motivation theories: Maslow's hierarchy of needs, the two-factor theory, the equity theory, and the expectancy theory. Several recommendations for managers and policymakers are proposed.

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