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Business & Marketing
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Topic:

Higher Salaries as Best Incentives for Workers Business Essay (Essay Sample)

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Higher Salaries as Best Incentives for Workers

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Limitations of Higher Salaries as Best Incentives for Workers
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Limitations of Higher Salaries as Best Incentives for Workers
Since the advent of capitalism, human resource (HR) management has relied predominantly on higher salaries as the best strategy for motivating employees. However, this dynamic seldom holds for people whose primary source of the drive is recognition for their skill and contribution to organizational objectives. While higher salaries might increase output per employee, they hardly surpass strategies like developing trust, besides the setting of reasonable performance indicators as the best incentives for ensuring a happy and motivated workforce.
People exhibit a keen interest and enthusiasm in their organizational roles when managers believe in competence and contribution. Arguably, such individuals appreciate a good rapport and interpersonal relationship build on trust more than a high salary. According to Stafford Global (2020), employers who confidently allow their teams to execute their tasks appropriately and with minimal supervision significantly boost company’s bottom line. The rationale is that employees feel motivated when they exercise control over their time. Moreover, they experience the freedom of deciding on the best approaches and strategies to solve their work-related problems, a factor that enables them build self-sufficiency (Stafford Global, 2020). Thus, trusting workers through independence is integral to the development of a healthy business environment that would endure even in turbulent financial times.

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