This theory states that people are motivated by fair return in relation to their performance. (McKenna, 2012, p.112). When a person believes that is not treated fairly, feelings of inequity are created which can be reduced through six methods. Firstly, changes to inputs. A person can increase or reduce his inputs through absenteeism or quality of work.
[ Job satisfaction scales vary in the extent to which they assess the affective feelings about the job or the cognitive assessment of the job. Affective job satisfaction is a subjective construct representing an emotional feeling individuals have about their job. Hence, affective job satisfaction for individuals reflects the degree of pleasure or happiness their job in general induces. Cognitive job satisfaction is a more objective and logical evaluation of various facets of a job. Cognitive job satisfaction can be one-dimensional if it comprises evaluation of just one facet of a job, such as pay or maternity leave, or multidimensional if two or more facets of a job are simultaneously evaluated.
Vroom put forward expectancy theory of job motivation in 1964. Vroom's expectancy theory conclude that behavior results from conscious choices among alternatives whose purpose it is to maximize pleasure and to minimize pain. Vroom suggested that an employee's performance is based on individual factors such as personality, skills, knowledge, experience and abilities. Like equity theory, expectancy theory deals on outcomes link with the job. It is not only about salary but also about other positive and negative factors.
He was the first to show that factors causing job satisfaction were different from that causing job dissatisfaction. He developed the motivation-hygiene theory; he called the satisfying factors motivators and the dissatisfying hygiene factors. According to Sapru (2013), the two factor theory is a theory that relates to intrinsic factors to job satisfaction, while associating extrinsic factors with dissatisfaction. To find the individual’s relation and attitude to work, Herzberg investigated the question: “What do people want from their job?” According to Hertzberg certain attributes tend to be consistently related to job satisfaction and other to job dissatisfaction. For instance, intrinsic factors such as responsibilities, achievement, recognition and advancement seem related to job satisfaction.
• To add to a base for merit or performance-related pay. Characteristics of job evaluation The essential goal of job evaluation is to figure out the value of work; however this is a quality which differs occasionally and from spot to place affected by certain economic pressure. The principle features of job evaluation are: • To supply bases for compensation arrangement established on realities as opposed to on dubious moderate thoughts. • It endeavors to assess jobs, not individuals. • Job evaluation is the yield given by job analysis.
Human capital is related to the marketable skills that the worker possess in the form of capital that enables the worker to make a variety of investment. Human capital is a measure of the economic value of a worker’s skill set. This measure builds on the basic production inputs of labour measures, where all labour is expected to be equal. This concept takes in to consideration that not all labour is equal and that the quality of the workers can be improved by investing in them, through education, and training. This is important since the experience and ability of employees have economic value for employers and for the economy as a whole.
not a motivator of work behavior: This essay shall discuss whether money is a motivator of work behavior. Money is a reward that encourages more efficient working behavior however an employee must be satisfied with their job in order to work well. A reward system should make provision for intrinsic and extrinsic rewards to create an environment that employees will feel motivated to archive their goals. Money motivates employees to “work to live” (a). It is a motivator if employees perceive good performance result in monetary value.
The BPO sector plays an essential role as keystone of the economic development of a country. This study attempts to evaluate job satisfaction of employees in different BPO companies. It focuses on the relative importance of job satisfaction factors and their impacts on the overall job satisfaction of employees. It also investigates the impacts of age, sex differences, work experience and Designation on the employee’s attitudes toward job Satisfaction. The result shows that Career path, rewards and recognition, employee’s appraisal and company’s policies are the most important factors contributing to job satisfaction.
The loss related to work should be decreased like less turnover of employees, less absenteeism. This will create a dedicated and good quality of workforce for the firm resulting in efficient performance and thus more of the profit against the less cost involved. Example of cost center is production department, service, administration and Research and development department as the involve cost and example of profit center is the sales department. Thus we can say that human resource is the life center of the firm as though keeping human resource costs the firm but the profit generated by them due to their role of management of employees and policies, this makes them part of profit center. In case the profit is not generated by human resource then the firm suffers loss and then human resource becomes part of a cost center and in that case, having human resource becomes loss as it involves only cost and no output in return.
Next, neglect includes reducing work effort, paying less attention to quality and increasing absenteeism and lateness. Therefore, to avoid the consequences of job dissatisfaction, the employer must ensure that their employees are satisfied with their job. There are many factors that can affect job satisfaction such as work schedule flexibility (Carlson, Grzywacz & Kacmar, 2010). Another study done by Yu (2011), show that perceived supervisor support and internal locus of control are positively related to job satisfaction. Besides that, the employees job satisfaction can also be ensured through their quality of work life such as creativity of outside of work, payment for work and better working environment (Md,