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To determine the impact of compensation and incentive system of a firm on its employees and the examination of how incentives and compensations can motivate the employees to work better, it was important to use questionnaire as a data collection tool for this research. The response to the questionnaire led to the appreciation of the fact that money does not mean everything. However it was identified that money is one of the most important issues that the employees identify at the time that an interview is being conducted (Svinicki, 2004). The questionnaire addressed two types of salary structure, a straight basic one or one that is based on the structure. The implementation of a structure of a basic pay in a firm is associated with the introduction of a program of merit pay (Svinicki, 2004).This introduces the employees to ranges of salary with respect to their position in consideration of the speed that is driven on position (Svinicki, 2004).This happens at the time that the managerial staff conducts the annual review of the performance of the employees. This introduces a perception of the employees that there is likelihood for an increase in salary after an evaluation has been conducted. It therefore results to its disqualification as a factor of motivation. In a firm therefore the presence of the compensation structure that is based on incentives was identified as the most appropriate structure responsible for motivating the employees (Svinicki, 2004).
It was also realized that compensation that is based on incentives is influential in increasing the efficiency of performance as well as a competition in as far as the talents are concerned. This is the most appropriate structure that is responsible for the motivation of employees towards better performance. The use of hiring bonuses was also identified to be influential towards the improvement of performance of the employees. It was also important to consider a specific period of time before availing the benefit of bonuses to the employees. This is important towards safeguarding the company against defeat of its purpose and this is specifically so because the company is exposed to a situation of competing for employees (Svinicki, 2004).
This is the inner urge within a person, an inborn desire to undertake something that either one feels good about or that one considers a worthy course in his/her own judgment. This could also be one thing that he/she considers important. This kind of motivation could be driven by a need that the individual has observed in the society and desires that by going after a certain line will attempt to bring a solution. This could also be a result of nurture, which is, how one has been brought up and the direction that their ambition have been given under the guidance of parents or guardians. One can be motivated to pursue banking, engineering, or a field of interest or a desire to learn and attain the highest level of education like university among others (Wlodkowski & Ginsberg, 2003).
The theory of intrinsic and the extrinsic motivation explain motivation in terms activation or the energization of the behavior on an individual that is oriented to the set goals. It is therefore possible for motivation to be intrinsic just as it can be extrinsic. This is a term that has a general application in as far as the human beings are concerned although in some cases it can be applicable to the behavior of other animals. According to the theories that exist, the foundation of motivation may be based on the requirement of minimizing the extent of the physical pain in conjunction with the maximization of the pleasure that the person needs. Motivation may as well incorporate particular needs, the objects that are desired, some goals, and the hobby of the person, morality or its avoidance. In a conceptual sense therefore, it is important to understand the implication of volition in addition to optimism as they should never be confused with motivation (Svinicki, 2004).
Intrinsic motivations shall also need to be elaborated. The origin of intrinsic motivations is the rewards that are inherent in the task that requires to be accomplished and it is associated with high achievement in the education that is usually consequential to a high degree of self-efficacy in the performance of the task. The cause of this kind of motivation is the attribution of academic performance to the internal results that are controllable such as the extent of input of effort that is required. The second factor is a positive believe of a person of being an effective agent with respect to the achievement of the desired goals as well as objectives. The third factor is the interest of a person to master an important topic at the expense of role-learning with the intent of achieving desirable grades (Wlodkowski & Ginsberg, 2003).
The individual may be driven towards a particular field by factors that are external to him or her. This could be in the form of the benefits associated with the pursuit of such desires like money, good grades, respect, the government emphasis on a need that the course would address, motivation by teachers, parents and role models.
The origin of extrinsic motivation is the exterior of a certain performer. The most influential factor in this respect is the use of money. Other common extrinsic factors of motivation include coercion together with the application of threat with the intention of punishment. according to the results of the research conducted on social psychology, there is a possibility of over-justification that may arise out of the use of extrinsic rewards which the leads to a decrease in the intrinsic motivation afterwards (Wlodkowski & Ginsberg, 2003).
These motivational models are reflected in other theories of motivation that include self determination theory among others. For great ideal of success to be realized in higher education for women the society, stakeholders and institutions should develop strategies that helps women to be able to look within and identify their heart towards education and where it’s directed to. This will motivate them to work harder, be patient, determined and resilient in their pursuit and to put everything in proper perspective to enhance them to achieve their goals.
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The incentive theory of motivation. Closely linked to the intrinsic and extrinsic motivation is the incentive theory of motivation which tackles the aspect of giving rewards to the performer of an action a way of encouraging the occurrence of the action. This has been proved to be able to attain positive results in the education field. The women who undertake higher education can be sponsored and supported by the university authorities for Masters Programmes in the campus especially those that show excellence in their performance to encourage the others and to empower them in the society (Wlodkowski & Ginsberg, 2003). The motivation itself could come from an individual or outside the person.
Need based theories. These theories have established their basis on the needs of an individual as a motivation towards achievement of one’s dreams and ambitions. The first theory in this category is the Need hierarch theory by Abraham Maslow.