PAPER ON "Managing Human Capital For Retention, Through Motivation" (With Case Examples)

In today's fast paced and competitive workplace er1v onment, motivating employees for better job pe1formance can be a difficult task. Understanding the vast range of motivational compo­ nents and the different thought processes that bring about motivation can often be the most difficult part of encouraging employees to reach their peak performances. Additionally, sorting through the many myths about motivation, and determining the best approach for any given environment can add to the stress of motivating employees. This paper discusses the various theories of employee motivation, options used to motivate employees and the pros and cons of those options. Additionally, the paper outlines a plan of action designed to achieve a high level of employee motivation. Managers and HR professionals for decades have been thinking of what kind of motivation works in a company in order to retain its best employees. Some say money is the answer-"Pay 'them more and they'll be motivated." Others say recognition is the key-"Give 'them pats on the back, awards and gifts when they achieve business objectives, and they'll be motivated." Those with a more tiicky view of human nature believe that people are motivated not so much by material rewards but by a desire to increase their power and prestige in the corporate hierarchy. Still others say that the work environment is critical-that providing employees with interesting work and treating them with respect will moti­ vate them.