An Exploration into the Motivation of Employees, Investigating Monetary Targets: The Case of Chisholm Hunter Ltd.
(2015) An Exploration into the Motivation of Employees, Investigating Monetary Targets: The Case of Chisholm Hunter Ltd., no. 71.
From exploring earlier to more contemporary theories of motivation, it is clear that there is not one best way to motivate employees. These theories define a range of factors which drive motivation from both an extrinsic and intrinsic stand point. Extrinsically, it is believed that financial reward has the ability to act as a motivator for employees and as the company of interest, Chisholm Hunter Ltd., award bonuses to staff members who achieve monthly targets, the concept of performance related pay is explored and related back to the theories defined. The aim of this research is to gain an insight into the motivation of sales employees within this company, to distinguish whether or not these individuals are most motivated by the prospect of a financial reward or other potential methods. For the research, a qualitative study was used to gather data from two sample groups from three branches of Chisholm Hunter Ltd. These groups were split according to the participants' role within the company as both sales assistants and members of their management were used in the study. Sample One, participated in semi-structured interviews whereas Sample Two completed structured interviews both of which were held face-to-face. The data collected provided two perspectives which were compared through the process of thematic analysis, which provided key themes to be discussed and analysed in accordance with the literature surrounding the topic. Results from this study highlight that the respondents of this sample did find that money had the ability to motivate people, yet many felt this was not the method most suited to intensify their own personal levels of motivation. The participants identified more with intrinsic methods of increasing motivation such as achievement, praise and teamwork. In addition to this, it was concluded that not only do potential methods have the ability to either motivate or demotivate people; they can also cause employees to act in inappropriate ways which they would not usually engage. This is not in the company, employees or their co-workers best interests.