Motivation is the defined as a set of processes that moves a person toward a goal. Thus, motivated behaviors are voluntary choices controlled by the individual employee and initiated by managers. According to Scott (1995)"Motivation is a process of stimulating people to action to accomplish desired goals".
In a Managerial perspective motivation is closely related to needs arising out of Self -esteem and Self actualization. Internal esteem factors like self respect, autonomy, achievement will act as an internal motivator for managers.
Money is understood to be a powerful motivator influencing financial cost parameter for more than one reason. In the first place money is fundamental for completion of a task The employee takes pay as a reward for his work, and the employer views it as a price for using the services of the employee. Second, as a medium of exchange, money is a vehicle by which employees can buy numerous need satisfying goods and services they desire. Third, money is considered as one of hygiene factors to improve maintenance factors and the efforts are directed towards motivation. Fourth, money also performs the function of a scorecard which employees assess the value that the organization places on their services and by which employees can compare their values to others. But, behavioral scientist thinks otherwise and suggests downgrade money as a motivator. ...