Discuss to what extent financial rewards motivates people.

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Ashley Kannan | Middle School Teacher | (Level 3) Distinguished Educator

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I think that a bonus scheme can motivate people significantly in terms of greater productivity and developing a stronger work atmosphere.  Moreover, I think that this is becoming standard in many workplace settings, so that employers might have to adapt something akin to this if, for nothing else, to remain competitive in the eyes of their workers.  Financial rewards motivates people through the obvious garnering of greater compensation.  Also, it is a significant mention as to a "job well done."  There are many ways to express this, but greater financial compensation is something accepted as a universal currency or language to communicate that a job has been well done.  I think that being able to develop a set of criteria or standards that allows the employees to better grasp how bonuses can be achieved and using different standards in order to entice more employees are all elements that can be integrated to motivate individuals and increase overall productivity and growth.  This is being seen in non- business realms, such as education, with the discussion of "merit- pay."  I think that as money becomes more of a central issue in the workplace, the need for financial rewards becomes that much more significant in terms of motivation of individuals.


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