Discuss the advantages of analysing organizations as incentive Essay

Discuss the advantages of analysing organizations as incentive mechanisms - Essay Example Hence, financial stability and economic prosperity is the basic motive behind all the efforts made by the individuals for obtaining different skills, degrees and qualifications. Theorists are of the opinion that the higher the level of education and technical skill or both, the brighter the probabilities of attaining respectable socioeconomic status in individual and collective life of the people. â€Å"In the age of globalisation, the knowledge economy discourse has become a way to characterise the new relationships between the state, society and economy and rendered higher education increasingly important for the international competitiveness of the nation states through their central tasks of generation, application and dissemination of knowledge and training high skilled labour force.† (Macerinskiene & Vaiksnoraite, 2006) Consequently, the efforts made in learning and studies certainly carry the purpose of enjoying incentives in the form of salaries, profits, facilities an d promotions in professional career. All corporate firms and organisations are well aware of this very reality that managers, employees, staff members and workers stick to one company provided it continues the policy of offering various incentives in the form of reasonable salary package, announces bonuses on showing excellent performance, assures job security, medical allowances and regular promotions on the basis on capabilities, dedication and targets achievement. The present study looks for analysing the companies as incentive mechanisms in the light of the theories articulated by the scholars and philosophers time and again pointing out the advantages of incentives in the growth of the organisations on the one hand, and in the performance of the work force on the other. Celebrated psychologist theorist Abraham H. Maslow has articulated his Need Hierarchy Theory in 1943 on the very notion of motivational effects, where he submits to state that five basic motivational scales are inevitable for the companies for the maintenance of the employees’ satisfaction. These levels include fulfilment of physiological needs, safety assurance, social/professional recognition, ego and self- actualising. (Maslow, 1943) The theorist argues that since motivational factors aptly rise from the lowest possible scales, so the most fundamental needs and requirements of the employees must be satisfied in precedence for the upgrading of their performance on the one hand, and for accelerating the pace of their interest in the tasks they are expected to accomplish on the other. Maslow vehemently declares the fulfilment of physiological needs as highly supportive for the job satisfaction of the workers. He is of the opinion that the employees should be assigned the tasks keeping in view their aptitude, interest, dexterity and command, which will not only turn out as the most inspirational factor of motivation for them, but also may pave the way towards the growth and developme nt of the organisation at large. Consequently, the more attractive and relevant to the disposition and aptitude of an employee the work, the higher will be the level of his motivation while performing his obligations and giving results to the organisation. In addition, if an employee's salary or wages are not sufficient to buy basic necessities including food, clothing and shelter for him and his family, his motivation level will surely be low and he will be unable to pay due heed to his work. Furthermore, job