Here is one of the essays I wrote, it is an analysis of the issue. Plus suggest any improvements.
"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.
Monetary compensation certainly plays a large role in motivating employees to work hard. After all, most people who work do so for the money, not because they enjoy their job as a hobby. Although there is a line many people discern where one's professional fulfillment eventually supersedes their need for more monetary payment - such as artists, singers, and actors - success in these professions is very rare, and thus should not be taken into account when referencing general motivation relating to employee production. Those who fail at 'hitting it big' often end up waiting tables.
Waiters, or anyone in the hospitality industry, often work for tips. If a waiter knows that he will be tipped the same amount regardless of the service he provides, what motivates him to offer top-notch service to the patrons? Very little. Monetary compensation is the number one stimulus to improve his work performance.
A business analyst who is working during an economic downturn will work much harder than she normally would because her job might be on the line when corporate lay-offs come around. Her potential to lose her job - and her salary - is certainly motivating her to prove that her productivity is higher compared to the productivity of her co-workers.
Monetary compensation is the first thing people analyze when looking at a career, it is no wonder why it is tied to the employee's performance. Money is the most common, and powerful, stimulus for improving employee productivity.
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