Money Can Buy Happiness: The Speech On Achieving Happiness

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“Money can buy happiness” is a common phenomenon, widely believed by people these days, I however beg to differ. Expectancy theory states that money will motivate employees as long as their personal goals are being satisfied and the perception that their pay is dependent upon their performance. People are more motivated to work harder when they have the ability to work on their own terms. The meaning of money is largely subjective and the relationship of money is highly distinctive. If companies want to motivate their workforce, they need to understand what their employees really value, and the answer is bound to differ for each individual. Motivating employees solely based on money will indeed turn out to be an extraordinary task as some people need respect and recognition in order to feel secure in the workplace. However, some people, being financially desperate, tend to ignore all other aspects of motivation and settle just for and with money. But there many other ways to keep employees motivated and interested in their work by providing them with fringe benefits.

In order to keep employees motivated towards their work, it’s important to make them feel wanted and recognized. It’s important to help them find meaning and a purpose of their job. No matter how much time off and money you offer your workers, you can’t spark inspiration that just isn’t there. The only way to truly motivate employees to channel their passion is by giving them work that feels meaningful to them. Firstly, employees don’t want to feel as if they are replaceable. It’s important to provide them with an assignment that has a purpose rather than a repetitive task that anyone in the office could do. By doing this, employees won’t just feel recognized but will also be motivated to do better, knowing that their work is taken into account and in the future, better and more important work may be given to them. This will give them a higher place in the hierarchy, a better image in the work place etc. Secondly, providing employees with a friendly environment may also boost up their desire to work harder and provide better assessment in their given tasks. The employees will feel more comfortable in such an environment and will feel motivated to challenge themselves in taking the next step. Once the workplace provides a healthy and happy environment, the employees will feel calmer and stress relieved, making their critical analysis of situations better. Lastly, it is important to make the employees feel respected by giving them frequent appraisals for their work and more helpful managers who assist them in order to get better work done. All these aspects are significant to ensure that the employees are motivated, not just with money.

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However, it is understood that money is the foundation of everyone’s lifestyle, as money is how people provide for their families. For starters, without it, people might have to work multiple jobs or cut their standard of living. Therefore, when hiring new employees, one of the primary concerns is how much the job pays, because people want to plan and budget their lives accordingly. Secondly, because some people are financially struggling, they tend to settle for an average pay in order to provide their families with the basic standards of living. This is why they don’t get the time to focus on other aspects of life which may be better for them, as money is the biggest motivator for them. Thirdly, the current situation of the state has led to an increased percentage of unemployment. This is another reason why the economically active people accept the jobs that they are offered, even if they are not satisfied with it. Hence they adopt the concept of spiral of silence, and restrict themselves towards money being the only motivator as it is the sole aspect they need.

On the contrary, fringe benefits can act as an indicator for motivation. Firstly, giving rewards for good work and completion of projects such as promotions, bonuses and accommodations. If an employee does good work and shows good time management in the completion of work, the managers can provide them with bonuses and send them on a family vacation as a token of appreciation for good work and show trust for their employees by sending them on tours and workshops abroad giving them a chance to interact internationally and gain more experience and confidence. Secondly, vocally talk about the efforts and show appreciations in presentations mentioning their names telling the entire staff of their hard work and as a reward provide them with private health care and life insurance. Thirdly, have an annual ceremony of “Employee of the Month”, providing them with an ease of life by taking the burden of the expenses of their heads and provide them with a car, house and the possibility their children’s education, if convenient for the company budget. As a result, such benefits will boost up the confidence and determination for other employees also to come up to the standard and avail such resources provided by the company, creating a more healthy and competitive environment of the workplace.

In conclusion, as aforementioned, there are other ways to keep employees motivated apart from money. Once the employees are shown security, recognition and respect it increases their self-esteem and they feel more comfortable in the working environment. They don’t work because of compulsion and pressure; instead they feel happy in the place of their expertise. Money is not the only resource that can be provided for the employees as it only sets the mind frame in one direction, rather it is important to give a broader platform to the people and to groom them in terms of responsibility, critical thinking, leadership and much more.  

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Money Can Buy Happiness: The Speech On Achieving Happiness. (2021, July 28). WritingBros. Retrieved September 19, 2021, from https://writingbros.com/essay-examples/money-can-buy-happiness-the-speech-on-achieving-happiness/
“Money Can Buy Happiness: The Speech On Achieving Happiness.” WritingBros, 28 Jul. 2021, writingbros.com/essay-examples/money-can-buy-happiness-the-speech-on-achieving-happiness/
Money Can Buy Happiness: The Speech On Achieving Happiness. [online]. Available at: <https://writingbros.com/essay-examples/money-can-buy-happiness-the-speech-on-achieving-happiness/> [Accessed 19 Sept. 2021].
Money Can Buy Happiness: The Speech On Achieving Happiness [Internet]. WritingBros. 2021 Jul 28 [cited 2021 Sept 19]. Available from: https://writingbros.com/essay-examples/money-can-buy-happiness-the-speech-on-achieving-happiness/
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