In that regard, employee motivation in the vocational environment of lending component of financial institutions emphasizes commissions and bonuses which are most consistent with the Vroom/Skinner concept of vocational motivation. In the past, management has also attempted to motivate performance in a manner that is most closely described by Herzberg's Two-Factor Hygiene Theory because high volume is rewarded with bonuses, praise, and advancement opportunity while lower performance is not punished except through the absence of rewards. Management seems to believe that this approach allows the most talented and self-motivated employees to thrive. Generally, that has resulted in a situation where some employees are much more driven than others and some employees approach their positions and nothing more than a source of steady work and paychecks.
Implications of Applying Two Alternative Motivational Theories
Relying on certain other motivation theories might not necessarily be beneficial in this environment as relying on others. For example, Maslow's Hierarchy of needs presupposes that...
In a field where financial rewards are the primary source of motivation, Maslow's hierarchy might not be particularly effective. On the other hand, Adam's Equity Theory might be more useful because it can be applied directly to the underlying motivation of employees seeking financial rewards for their performance. In that respect, the awareness of specific connections between various performance standards and the rewards earned by coworkers establishes a framework of equality and fairness that could conceivably best motivate high performance in pursuit of the same rewards as achieved by others in the organization.
