MOTIVATING ANDMANAGING KNOWLEDGE WORKERS

Managing human intellect and converting it into useful products and services is fast becoming a critical component of competitive success. In a knowledge economy where skilled employees are vital it's increasingly important to effectively reward the workforce. But when salary alone is not enough, how do we face the challenge of motivating and retaining key knowledge workers? It is against this backdrop that the paper suggests the reward strategy should include the factor· that take into account and should include financial and non-financial incentives particularly those that find a balance between work, social and family commitments. The reward strategy will need to incorporate pay and non-pay elements and most importantly it will need lo be developed in consultation with those it intends to reward. There is a widespread realisation that competitive advantage can be gained by leveraging and harvesting the intellectual assets, that is the knowledge residing in the minds of the people. Knowledge thus become the most impo1tant foL·lor of production for information economy.