What motivates our employees?
19th December 2018 | Warren Colby
This 2016 Masters project asks: Do employee motivation schemes have to be financially focused to improve engagement and output?
Do employee motivation schemes have to be financially focused to improve engagement and output? During previous employee appraisal meetings within my organisation, a number of our employees asked if the company would consider introducing a financially focused bonus scheme; a majority of the employees who made this request were key individuals within the organisation and appreciated by management. I therefore felt it was important to investigate various employee bonus schemes and feed back my findings.
My research project initially was to investigate the types of bonus scheme that businesses were introducing to employees as a means of improving employee engagement and output. However, my findings after surveying and interviewing employees led me to investigate whether engaging with employees using reward and recognition methods was more effective to improve employee motivation and output. I wanted to explore if using reward and recognition could be a more effective motivator than the traditional financially focused bonus schemes which many of the UK’s businesses have been using for a number of years.