Based on the various theories, people need motivators to satisfy their needs. How do these theories drive the compensation process? Should rewards be based on equity “what goes on in a person’s head”, expectancy “the probability a task can be completed” or performance?
Based on the various theories, people need motivators to satisfy their needs. How do these theories drive the compensation process? Should rewards be based on equity “what goes on in a person’s head”, expectancy “the probability a task can be completed” or performance?
Compensation is an important part of the employee experience and is a powerful tool for motivating employees to perform well. Different theories of motivation can be used to create a compensation system that meets the needs of employees and incentivizes them to reach their goals. These theories, including Maslow’s Hierarchy of Needs, the Expectancy Theory, and the Equity Theory, can help organizations create a compensation system that is fair, equitable, and rewards employees for their efforts. In this article, we will discuss the different theories of motivation and how they can be used to drive the compensation process.
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