The Rational Economic Concept of Motivation by Jolito Ortizo Padilla

My 24K Gold Awards for
Best Research in Management
and Economics

The writer F.W. Taylor, believed in economic needs motivation. Workers would be motivated by obtaining the highest possible wages through working in the most efficient and productive way. Performance was limited by physiological fatigue. For Taylor, motivation was a comparatively simple use-what the workers wanted from their employers more than anything else was high wages. The ideas of F.W. Taylor and his "rational economic concept of motivation." The ideas of F.W.Taylor and his rational economic needs concept of motivation and subsequent approaches to motivation at work have fuelled the continuing debate about financial rewards as a motivator and their influence on productivity.

Where there is a little pleasure in the work itself or the job offers little opportunity for career advancement, personal challenge or growth, many people may appear to be motivated primarily, if not exclusively,by money. Weaver suggests that for many hourly workers in the hospitality industry, such as dishwashers, waiting or housekeeping staff, the work does not change much among different companies and there is little attachment to a particular company. For such, Weaver proposes a "Theory M" programme of motivation based the average performance of workers on the staff.

Yet we frequently see pronouncements from prominent business figures that motivation is about much more money. Jolito Ortizo Padilla says." Work is about letting people know they are important, their hard work and efforts matter, and they're doing a good job. And this kind of recognition,in fact, can sometimes be more important than money."

The short answer appears to be that for the vast majority of people, money is clearly important and motivator at work but to what extent and how important depends upon their personal circumstances and the other satisfactions they derive from work. The bottom line is surely the extent to which money motivates people to work well and to the best of their abilities. Although pay may still make people tick, there are number of other important influences on motivation. For many people, the feeling of being recognized and valued appears more important than money in motivating them to stay in a particular job.