Impact Of Financial Problems On Motivation - 1314 Words

Past studies have shown that the motivation issues experienced in the work place are not necessarily caused by the work environment. In some cases, external factors not related to work environment are the primary reason that so many workers are incapable of performing to the best of their ability. â€Å"People tend to underestimate the importance of external factors and overestimate the importance of internal factors as influences on those behaviors† (Baack, 2012, Ch. 3.1).Through the exploration of how financial problems can affect motivation in employees and how the motivation of these employees can be boosted, a better understanding of performance issues and motivation can be gained. Financial problems are quite common and they contribute a huge percentage of motivational problems found in the work place. In most scenarios, financial difficulties are a result of poor choices made by the individual (Ford, 1992). However, in some instances the financial hardships are a result of situations beyond the control of the individual. Hardships are often the result of the economic climate, or other external situations. Some common financial problems that are experienced by employees include: minimal or no medical insurance, mortgage payments, gambling addictions, lack of savings, and fraud (Shinnick, 2009). Regardless if the hardship is self inflicted or beyond one’s control the effects on motivation in the workplace are still present. Having medical insurance ensures peace of mind thatShow MoreRelatedThe Work For Organisations And With Their Abilities And Skills1651 Words   |  7 Pagesachieve higher levels of output. The employees loses their interest and their working efficiency level gets reduced when they feel that their good work is not noticed and not been appreciated by the management. 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