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Reward Management
Reward management is concerned with the formulation and implementation of strategies and policies that aim to reward people fairly, equitably and consistently in accordance with their value to the organization. Reward management consists of analysing and controlling employee remuneration, compensation and all of the other benefits for the employees. Reward management aims to create and efficiently operate a reward structure for an organisation. Reward structure usually consists of pay policy and practices, salary and payroll administration, total reward, minimum wage, executive pay and team reward. History Reward management is a popular management topic. Reward management was developed on the basis of psychologists' behavioral research. Psychologists started studying behavior in the early 1900s; one of the first psychologists to study behavior was Sigmund Freud and his work was called the Psychoanalytic Theory. Many other behavioral psychologists improved and added onto his ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Formulation
Formulation is a term used in various senses in various applications, both the material and the abstract or formal. Its fundamental meaning is the putting together of components in appropriate relationships or structures, according to a formula. Etymologically ''formula'' is the diminutive of the Latin ''forma'', meaning shape. In that sense a ''formulation'' is created according to the standard for the product. Abstract applications Disciplines in which one might use the word ''formulation'' in the abstract sense include logic, mathematics, linguistics, legal theory, and computer science. For details, see the related articles. Material applications In more material senses the concept of ''formulation'' appears in the physical sciences, such as physics, chemistry, and biology. It also is ubiquitous in industry, engineering and medicine, especially pharmaceutics. Pharmacy In pharmacy, a formulation is a mixture or a structure such as a capsule, tablet, or an emulsion, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Extrinsic Reward
The reward system (the mesocorticolimbic circuit) is a group of neural structures responsible for incentive salience (i.e., "wanting"; desire or craving for a reward and motivation), associative learning (primarily positive reinforcement and classical conditioning), and positively-valenced emotions, particularly ones involving pleasure as a core component (e.g., joy, euphoria and ecstasy). Reward is the attractive and motivational property of a stimulus that induces appetitive behavior, also known as approach behavior, and consummatory behavior. A rewarding stimulus has been described as "any stimulus, object, event, activity, or situation that has the potential to make us approach and consume it is by definition a reward". In operant conditioning, rewarding stimuli function as positive reinforcers; however, the converse statement also holds true: positive reinforcers are rewarding. The reward system motivates animals to approach stimuli or engage in behaviour that increases ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Reward System
The reward system (the mesocorticolimbic circuit) is a group of neural structures responsible for incentive salience (i.e., "wanting"; desire or craving for a reward and motivation), associative learning (primarily positive reinforcement and classical conditioning), and positively-valenced emotions, particularly ones involving pleasure as a core component (e.g., joy, euphoria and ecstasy). Reward is the attractive and motivational property of a stimulus that induces appetitive behavior, also known as approach behavior, and consummatory behavior. A rewarding stimulus has been described as "any stimulus, object, event, activity, or situation that has the potential to make us approach and consume it is by definition a reward". In operant conditioning, rewarding stimuli function as positive reinforcers; however, the converse statement also holds true: positive reinforcers are rewarding. The reward system motivates animals to approach stimuli or engage in behaviour that increases ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Reinforcement
In behavioral psychology, reinforcement is a consequence applied that will strengthen an organism's future behavior whenever that behavior is preceded by a specific antecedent stimulus. This strengthening effect may be measured as a higher frequency of behavior (e.g., pulling a lever more frequently), longer duration (e.g., pulling a lever for longer periods of time), greater magnitude (e.g., pulling a lever with greater force), or shorter latency (e.g., pulling a lever more quickly following the antecedent stimulus). The model of self-regulation has three main aspects of human behavior, which are self-awareness, self-reflection, and self-regulation. Reinforcements traditionally align with self-regulation. The behavior can be influenced by the consequence but behavior also needs antecedents. There are four types of reinforcement: positive reinforcement, negative reinforcement, extinction, and punishment. Positive reinforcement is the application of a positive reinforcer. Negati ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Victor Vroom
Victor Harold Vroom (born August 9, 1932, in Montreal, Quebec, Canada) is a business school professor at the Yale School of Management. He holds a PhD from University of Michigan and an MS and BS from McGill University. Work Vroom's primary research was on the expectancy theory of motivation, which attempts to explain why individuals choose to follow certain courses of action and prefer certain goals or outcomes over others in organizations, particularly in decision-making and leadership. His most well-known books are ''Work and Motivation'', ''Leadership and Decision Making'' and ''The New Leadership''. In this theory, he suggested that motivation is largely influenced by the combination of a person's belief that effort leads to performance, which then leads to specific outcomes, and that such outcomes are valued by the individual. Along with the version of Lyman Porter and Edward Lawler, Vroom's formulation is generally considered as representing major contributions to expect ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Expectancy Theory
Expectancy theory (or expectancy theory of motivation) proposes that an individual will behave or act in a certain way because they are motivated to select a specific behavior over others due to what they expect the result of that selected behavior will be. In essence, the motivation of the behavior selection is determined by the desirability of the outcome. However, at the core of the theory is the cognitive process of how an individual processes the different motivational elements. This is done before making the ultimate choice. The outcome is not the sole determining factor in making the decision of how to behave. Expectancy theory is about the mental processes regarding choice, or choosing. It explains the processes that an individual undergoes to make choices. In the study of organizational behavior, expectancy theory is a motivation theory first proposed by Victor Vroom of the Yale School of Management. Victor H. Vroom (1964) defines motivation as a process governing choic ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Motivator-hygiene Theory
The two-factor theory (also known as Herzberg's motivation-hygiene theory and dual-factor theory) states that there are certain factors in the workplace that cause job satisfaction while a separate set of factors cause dissatisfaction, all of which act independently of each other. It was developed by psychologist Frederick Herzberg. Fundamentals Feelings, attitudes and their connection with industrial mental health are related to Abraham Maslow's theory of motivation. His findings have had a considerable theoretical, as well as a practical, influence on attitudes toward administration. According to Herzberg, individuals are not content with the satisfaction of lower-order needs at work; for example, those needs associated with minimum salary levels or safe and pleasant working conditions. Rather, individuals look for the gratification of higher-level psychological needs having to do with achievement, recognition, responsibility, advancement, and the nature of the work itself. This ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Frederick Herzberg
Frederick Irving Herzberg (April 18, 1923 – January 19, 2000) was an American psychologist who became one of the most influential names in business management. He is most famous for introducing job enrichment and the Motivator-Hygiene theory. His 1968 publication "One More Time, How Do You Motivate Employees?" had sold 1.2 million reprints by 1987 and was the most requested article from the ''Harvard Business Review''. (''note: the reference to sales numbers is in the abstract written by the editors.'') Personal life Herzberg was born in 1923 in Lynn, Massachusetts, to Gertrude and Lewis Herzberg, who were Jewish Lithuanian immigrants. He enrolled at the City College of New York in 1939. He did not finish his studies as he enlisted in the army. In 1944 he married Shirley Bedell. He finally finished his studies and graduated from the City College of New York in 1946. He then decided to move to the University of Pittsburgh where he earned a master's degree in science and publ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Abraham Maslow
Abraham Harold Maslow (; April 1, 1908 – June 8, 1970) was an American psychologist who was best known for creating Maslow's hierarchy of needs, a theory of psychological health predicated on fulfilling innate human needs in priority, culminating in self-actualization. Maslow was a psychology professor at Brandeis University, Brooklyn College, New School for Social Research, and Columbia University. He stressed the importance of focusing on the positive qualities in people, as opposed to treating them as a "bag of symptoms". Hoffmann (1988), p. 109. A ''Review of General Psychology'' survey, published in 2002, ranked Maslow as the tenth most cited psychologist of the 20th century. Biography Youth Born in 1908 and raised in Brooklyn, New York, Maslow was the oldest of seven children. His parents were first-generation Jewish immigrants from Kiev, then part of the Russian Empire (now Kyiv, Ukraine), who fled from Czarist persecution in the early 20th century. They had deci ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Equity Theory
Equity theory focuses on determining whether the distribution of resources is fair to both relational partners. Equity is measured by comparing the ratio of contributions (or costs) and benefits (or rewards) for each person. Considered one of the justice theories, equity theory was first developed in the 1960s by J. Stacy Adams, a workplace and behavioral psychologist, who asserted that employees seek to maintain equity between the inputs that they bring to a job and the outcomes that they receive from it against the perceived inputs and outcomes of others. According to Equity Theory, in order to maximize individuals' rewards, we tend to create systems where resources can be fairly divided amongst members of a group. Inequalities in relationships will cause those within it to be unhappy to a degree proportional to the amount of inequality. The belief is that people value fair treatment which causes them to be motivated to keep the fairness maintained within the relationships of thei ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Process Theories
A process theory is a system of ideas that explains how an entity changes and develops. Process theories are often contrasted with variance theories, that is, systems of ideas that explain the variance in a dependent variable based on one or more independent variables. While process theories focus on how something happens, variance theories focus on why something happens. Examples of process theories include evolution by natural selection, continental drift and the nitrogen cycle. Process theory archetypes Process theories come in four common archetypes. Evolutionary process theories explain change in a population through variation, selection and retention—much like biological evolution. In a dialectic process theory, “stability and change are explained by reference to the balance of power between opposing entities” (p. 517). In a teleological process theory, an agent “constructs an envisioned end state, takes action to reach it and monitors the progress” (p. 51 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Content Theories
Content theory is a subset of motivational theories that try to define what motivates people. Content theories of motivation often describe a system of needs that motivate peoples' actions. While process theories of motivation attempt to explain how and why our motivations affect our behaviors, content theories of motivation attempt to define what those motives or needs are. Content theory includes the work of David McClelland, Abraham Maslow and other psychologists. McGregor's Theory X and Theory Y Douglas McGregor proposed two different motivational theories. Managers tend to believe one or the other and treat their employees accordingly. Theory X states that employees dislike and try to avoid work, so they must be coerced into doing it. Most workers do not want responsibilities, lack ambition, and value job security more than anything else. McGregor personally held that the more optimistic theory, Y, was more valid. This theory holds that employees can view work as natural, are ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
