Understanding what motivates employees is a key piece of management and a successful company

Sample Solution

   

Question 1

I believe that the Expectancy Theory of motivation is a successful theory for management teams. The Expectancy Theory posits that an individual's motivation to perform a task is determined by the following three factors:

• Expectancy: The individual's belief that effort will lead to performance.
• Instrumentality: The individual's belief that performance will lead to a desired outcome.
• Valence: The value that the individual places on the desired outcome.

Full Answer Section

      From a management perspective, the Expectancy Theory can be used to motivate employees by:

• Setting clear and achievable goals. Employees need to believe that their effort will lead to performance, so it is important for managers to set clear and achievable goals.
• Providing feedback and recognition. Employees need to know that their performance is being recognized and valued. Managers can provide feedback and recognition through formal performance reviews, informal conversations, and public praise.
• Linking rewards to performance. Employees are more likely to be motivated to achieve goals if they know that they will be rewarded for their performance. Managers can link rewards to performance through financial incentives, such as bonuses and commissions, or non-financial incentives, such as flexible work arrangements and professional development opportunities.

How I would use the Expectancy Theory in my own leadership and management of employees If I were a manager, I would use the Expectancy Theory to motivate my employees by:

• Setting clear and achievable goals. I would meet with each employee individually to discuss their goals for the year. I would also work with them to develop a plan for achieving those goals.
• Providing feedback and recognition. I would provide feedback to my employees on a regular basis. I would also recognize their accomplishments, both individually and publicly.
• Linking rewards to performance. I would work with my employees to develop a reward system that is linked to their performance goals. This system could include financial incentives, such as bonuses and commissions, or non-financial incentives, such as flexible work arrangements and professional development opportunities.

Question 2 The most important rewards to help employees and companies be successful in today's competitive hiring market:

• Competitive salaries and benefits. Employees are looking for salaries and benefits that are competitive with the market. This includes health insurance, retirement savings plans, paid time off, and other benefits.
• Opportunities for growth and development. Employees want to work for companies that offer them opportunities to learn and grow. This includes providing them with access to training and development programs, as well as opportunities for advancement.
• A positive work environment. Employees want to work in a positive and supportive environment. This means creating a culture of respect and teamwork, and providing employees with the resources they need to do their jobs well.
• Work-life balance. Employees want to have a good work-life balance. This means offering them flexible work arrangements, such as telecommuting and compressed workweeks, and encouraging them to take time off when they need it.

What incentives matter most to me in my own job searches:

• Competitive salary and benefits. I am looking for a salary and benefits package that is competitive with the market. This includes health insurance, retirement savings plans, paid time off, and other benefits.
• Opportunities for growth and development. I am looking for a job that will allow me to learn and grow. I am particularly interested in jobs that offer access to training and development programs, as well as opportunities for advancement.
• A positive work environment. I am looking to work in a positive and supportive environment. I want to work with people who are passionate about their work and who are committed to creating a great product or service.
• Work-life balance. I am looking for a job that offers a good work-life balance. I want to have the flexibility to work from home on occasion and to take time off when I need it.

I believe that the Expectancy Theory of motivation is a successful theory for management teams, and that the rewards listed above are the most important rewards to help employees and companies be successful in today's competitive hiring market. These are also the incentives that matter most to me in my own job searches.