Money or Meaning? An exploratory study into the importance of psychological contract and motivation on Musselburgh High Street
(2014) Money or Meaning? An exploratory study into the importance of psychological contract and motivation on Musselburgh High Street, no. 83.
Purpose: The aim of this exploratory study is to examine the importance and factors impacting upon employee motivation on Musselburgh High Street. This investigation will look at the significance of psychological contract by asking the simple question do people work for money or meaning? Design /Methodology/Approach: This study will adopt qualitative paradigm due to the nature of the explored topic. The researcher has identified the form of semi- structured interviews as the most suitable due to the nature of the topic. 12 participants have been selected from different types of businesses represented on Musselburgh High Street; (SME's/ family businesses, charity/voluntary sector and national and multinational corporations). Findings: The findings of the study indicated that motivation is a very important factor for participants and varies by gender, age, position within the organisation and organisational tenure. The significance of psychological contract is also high, however examined sample does not reflect the view of the literature about their primary motivators. Research limitations: The size of the sample may be perceived as relatively small which may impact generalisability of the study, however theoretical sampling helped to increase validity and reliability of this research. Practical limitations: This investigation will help to enhance existing knowledge about motivation and psychological contract. Furthermore, recommendations for different types of businesses will be made based on the findings of this study. Originality/ value: This study highlights the importance of motivation and psychological contract in the workplace. The researcher has identified a gap in the literature, which focuses mostly on examining motivation at one particular organisation or occupation, whereas the nature of sociological phenomena suggests focusing on one location, as this will help to identify main motivators of particular community, which will assist in closing a gap in the literature. Keywords: Employee motivation, psychological contract Paper type: Research paper