Paper Example on Young People's Work Motivation: Consideration of Interesting Work and Financial Benefits

1.0 Introduction

Over the past few years, there has been a persistent interest in and engaging in different forms of workplace motivation because they are associated with positive organizational outcomes (Arnett, 2015). The positive organizational outcomes include things such as increased productivity, reduced employee turnover, and even decreased absenteeism. Therefore, for most organizations, they are constantly looking for the most effective ways they can use to motivate their employees to be more engaged and committed to their organizations (Arnett, 2015). In this research, it will focus on investigating how the nonfinancial factors and material conditions normally affect the young peoples work motivation. A particular focus will be placed on making a comparison between the consideration of interesting work and financial benefits, and their effect on young peoples work motivation.

One of the major problems that most employers both in public and private sectors are facing is the issue of how to motivate their employees and therefore improve their performance. Employee performance is very important in an organization because it determines an organizations ability to reach its goals and achieve its objectives for a certain period (Bodur & Infal, 2015). If the employees are motivated, they will perform at their optimal level, however, if the employees are not motivated due to various factors, then they will only provide enough effort in the organization to ensure that they are not sacked or demoted from their position at a certain organization. Various researchers have proposed different methods or ways that can be used to motivate employees (Cherian & Jacob, 2013). However, it is important to note that human beings are different regarding their needs and values, and with that being said, some employees may be motivated by financial incentives, while nonfinancial incentives will motivate others.

Young employees who are entering the job market are associated with negative stereotypes such as, they are considered to be lazy, and they have a sense of entitlement. They have a poor work ethic, and they are not loyal to the organization that hires them ( always looking for greener pastures) (Cherian & Jacob, 2013). However, even though they are associated with negative stereotypes or attributes, they are the ones who are entering the job market, and therefore, for most organizations, they are looking for effective ways in which they can motivate them, and ensure that they are productive.

Most of the young people, prefer to work in a job that they feel or regard as being interesting, instead of working in a job that provides them with various financial benefits such as a high pay and regular bonuses. In a poll that was conducted by Clark University Poll on young adults (18-27 years) where they interviewed 1,000 respondents, 79% of the participants preferred to work in jobs that they enjoy over jobs that would ensure that they made more money(Arnett, 2015). Additionally, 86% of the respondents stated that they were more motivated to work in a job that helps them be able to do some good in the world (Arnett, 2015). Most of the young employees want to work in positions where they feel that they are engaged and challenged, or making positive contributions to the world.

In a study that was conducted by PWC focusing on Millennial and factors that motivate them at work, it was established that most of the employees (young employees) want to work in organizations whereby the employers can offer more incentives than a good pay (PWC, 2011). They want to work in organizations that offer them opportunities to progress, use the latest technology, be employed in sectors that are relevant to their degree courses, and whereby they have flexible working conditions- they can choose to work from home or at the workplace. In this case, the most important thing that the employer looks for is that they complete their tasks. It creates a situation whereby the employee feel that there is the work-life balance, and all these nonfinancial factors that have been mentioned can be seen to be geared towards ensuring that the employee enjoys the work that he or she does (PWC, 2011).

The change in values and as such affecting the motivation factors of employees can be attributed to the way these young employees were raised. For most of them, they grew up watching their parents working for long hours so that they could fulfil their various needs such as pay their school fees and mortgages. They devoted so much time to their work, and for the young employees, they do not want to live such lives. The Millennial have not faced hardships or recessions, and therefore they fill that they are entitled to various things such as having fulfilling jobs that are fun whereby they would rather have a job that provides them with decent holidays and occasional travel that a high salary and status.

1.2 Research ProblemThe focus of this research is to assess the impact of financial and non-financial factors on young people regarding workplace motivation. A particular interest will be on making a comparison between interesting work and financial incentives, in regards to motivating young employees to become more efficient in their work.

1.3 Purpose of the StudyThe purpose of this study is to assess which of the two factors in regards to interesting work and financial benefits affect young peoples work motivation. It will be important to identify the factors that young employees deem to be important to improving their motivation at the workplace. This will assist most organizations in future when it comes to providing incentives that are geared to motivating their employees in future.

1.4 Objectives of the ResearchThe main objectives of this study are:

To examine the relationship between the two variables and work motivation by using quantitative research methods

Identification of which factor is more important for young people and exploring the reasons through the use of a qualitative research approach

Examination of whether employees of different genders tend to have differing values and attitudes towards their work.

1.5 Research Questions1) To what extent that consideration for interesting work and financial benefits affect young peoples work motivation?

2) Which factor is relatively more important for young people, interesting work or salary?

Hypotheses Formulated

H1: Consideration for interesting work and material condition are both positively related to young peoples work motivation.

H2: Consideration for interesting work is more important than compensation for young workers.

H3: Female concern more about interesting work than young male workers.

2.0 LITERATURE REVIEW2.1 Importance of Employee Motivation in an OrganizationMotivation is the force that convinces employees to behave and perform in a certain manner that will lead to a reward. Therefore, these employees expect to get some form of reward that they have anticipated for themselves and their families for the services and efforts that they offer to the organization where they have been employed (Cherian & Jacob, 2013). Motivation, therefore, can be defined as, The state that compels an individual to proceed in a way planned to accomplish some goals. An effective human resource management team is the one that is able to identify the right motivational factors to offer its employees in order to generate the performance and work attitude that will help an organization achieve its goals and objectives (Cherian & Jacob, 2013).

The effectiveness of an organization is determined by the level of motivation of its workforce. The reason for this is that employees who are motivated are more productive at the work place which is beneficial to the organization. They are also seen to have a particular focus on quality regarding work production and are dedicated to accomplishing their goals (Guay et al., 2010). For organizations to achieve a competitive edge over other companies (especially in cases where they are in a similar sector), they have to be able to motivate and be able to retain their employees. It is important for the management to regularly reward the high performers in an organization through the use of financial and non-financial reward systems as they will lead to employee motivate and job satisfaction (Guay et al., 2010).

2.2 Factors that Affect Employee Motivation at the WorkplaceBased on the rapidly changing work-setting based on various factors such as techn...