Starting at an early age, we have been introduced to various motivational theories (e.g., Maslow's needs hierarchy). Compare and contrast expectancy theory, equity theory, reinforcement theory, and goal setting theory. Identify the essential features of each and its relations to performance-based pay.
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According to the expectancy theory employees are motivated to do what they believe is possible and is valuable. This means that the worker must feel that the goal can be achieved and the worker must feel that she will be rewarded for the goal. There are three features namely expectancy, that the work can be performed, the instrumentality that the performance will lead to an outcome, and the valence which is the value of the outcome. If performance based pay is such that the worker feels ...
This posting gives you a step-by-step explanation of human resource management and motivational theories. The response also contains the sources used.