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tarungupta
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AWA ESSAYS: Analyze Issues
ESSAY QUESTION:
"Monetary compensation is the most powerful stimulus for improving employee productivity."
Discuss the extent to which you agree or disagree with the position stated above. Support your viewpoint using reasons and examples from your own experience, observations, or reading.
YOUR RESPONSE:
The given issue states that monetary compensation and incentives are the best way to improve employee productivity. While many people would say that money is not the best way to improve employee productivity, other would disagree. I will present my views in support of the topic that monetary compensation in in fact the most powerful stimulus for improving employee productivity.
First, since all the employees in a company work for money nothing can be a more powerful incentive than more money. Consider the example of an organisation in which people work on commission. It is observed that in companies where people work on commission employees work harder that in an organisation where people work on fixed wages. This gives the employees a very powerful incentive to work harder and each employee's income is based on his quality of work.
Second, any incentive that a company will give to its employee will cost the company money. It will also increase the companies workload since it will have to draft this incentives first. Hence, it will be easier for the company to just give the money instead of converting it into some other form of incentive. It will also prove more beneficial to the employees because they will then be able to use the money in any way they like.
Third, monetary compensation reduces the risk of the company being cheated by the employee. To illustrate take the example of a company which provides its employees accommodation and living expenses when they travel out of town on official business. The employees can very easily produce fake bills and extract more money from the company than they need. If the company simply provides them money at the beginning of the trip it will reduce the chances of the company being cheated and make the process much more transparent.
In summary, while this issue is quite debatable the advantages of monetary compensation outweigh those of other forms of compensation. Clearly, money incentives are the best tools for increasing employee productivity as they very transparent, they reduce the workload of the company as well as the employees and money is the most important incentive for any employee in a company. Hence, monetary compensation is the best way of increasing employee productivity.
ESSAY QUESTION:
"Monetary compensation is the most powerful stimulus for improving employee productivity."
Discuss the extent to which you agree or disagree with the position stated above. Support your viewpoint using reasons and examples from your own experience, observations, or reading.
YOUR RESPONSE:
The given issue states that monetary compensation and incentives are the best way to improve employee productivity. While many people would say that money is not the best way to improve employee productivity, other would disagree. I will present my views in support of the topic that monetary compensation in in fact the most powerful stimulus for improving employee productivity.
First, since all the employees in a company work for money nothing can be a more powerful incentive than more money. Consider the example of an organisation in which people work on commission. It is observed that in companies where people work on commission employees work harder that in an organisation where people work on fixed wages. This gives the employees a very powerful incentive to work harder and each employee's income is based on his quality of work.
Second, any incentive that a company will give to its employee will cost the company money. It will also increase the companies workload since it will have to draft this incentives first. Hence, it will be easier for the company to just give the money instead of converting it into some other form of incentive. It will also prove more beneficial to the employees because they will then be able to use the money in any way they like.
Third, monetary compensation reduces the risk of the company being cheated by the employee. To illustrate take the example of a company which provides its employees accommodation and living expenses when they travel out of town on official business. The employees can very easily produce fake bills and extract more money from the company than they need. If the company simply provides them money at the beginning of the trip it will reduce the chances of the company being cheated and make the process much more transparent.
In summary, while this issue is quite debatable the advantages of monetary compensation outweigh those of other forms of compensation. Clearly, money incentives are the best tools for increasing employee productivity as they very transparent, they reduce the workload of the company as well as the employees and money is the most important incentive for any employee in a company. Hence, monetary compensation is the best way of increasing employee productivity.
