It is likely that the employer will judge the employees to be exerting less effort as they do themselves which immediately devalues the employees to the employer. Firstly because the theory is based on perception there is huge scope for there to be disagreement between employers and employees on the subject of pay which would ultimately result in inequity existing for either of the individuals in question. (See figures 1.1 and 1.2)From what has been analysed it seems to be the case that pay does have an influence upon motivation levels, but its affects are limited by various factors as highlighted by both of the theories focused upon in this essay. This goes against what for example classical theory’s such as Maslow’s hierarchy of needs (Maslow 1943, 1954, 1970) states and shows that pay can influence people’s behaviour regardless of their financial status.

This could then link on to job type, possibly indicating that a job with prospects in terms of possible increases in pay and promotions may significantly help to motivate a person when pay is in question. Intrinsic rewards need to be taken into account as they give us an insight into why people are motivated if extrinsic rewards do not affect their performance. Another key observation when considering this theory is that the equity theory focuses on the perceived situation from the point of view of a worker and not on the actual set of circumstances (Steers 1975). By recognising that employees may have different personal goals to the goals of the organisation for whom they work, Vroom’s expectancy theory states that motivational force to perform is a multiplicative function of the expectancies employees have times the value they personally place on the outcomes (Steers 1975, Vroom 1994). Taking a look at the great amount of TV shows dealing with the “rich and famous”, it becomes clear that wealth is a crucial goal for most people.There is lots of research about the significance of pay with regard to performance, motivation and satisfaction. Vroom’s theory is written as follows; “Force = ∑ (F X V)” (Vroom 1964). In this case equity is defined as the ratio between an individual’s inputs, for example effort, and the outcomes, for example pay when compared with a similar ratio for a similar other (Steers 1975). In most societies pay level is regarded as an important indicator for status, success and also happiness. So here pay is acting as a motivator however the real long term motivator to people in such jobs is not necessarily money but social and societal value of promotion which leads to inner happiness. Taylor's Theory of Scientifc Management Frederick Taylor's theory of motivation states that most workers are motivated solely by the pay they receive for the work they do. Any opinions, findings, conclusions or recommendations expressed in this material are those of the authors and do not necessarily reflect the views of UKEssays.com.For any aspiring corporation anywhere in the world, having a motivated workforce is pivotal for any potential success to materialise. Company Registration No: 4964706. The equity theory therefore gives us an insight into the extent of the affects of pay and where and how it will affect motivation positively.The second process theory to be considered will be the expectancy theory which is widely accredited to Victor H. Vroom. This will help with the analysis of the effects of money on individual motivational levels.It seems initially that there are a number of possible controversial areas when considering pay and this theory. What was discovered by Judge and his colleagues (2010) was that bankers earning about 150.00 USD a year were not more satisfied than child care takers earning 20.000 USD a year.
Some state that pay increases the employee performance (e.g. There are three main theory categories, namely content theories, process theories and contemporary theorie…

In terms of pay and motivation, this theory tells us that the extent to which an employee can be motivated by pay is dependent upon a number of factors including personal abilities, the standard of infrastructure within the firm, and also on any negative consequences associated with carrying out required work. By drawing on the works of Lewin, Tolman and Peak the assumption is made that there is an interaction between an individual’s personality and their perceived environment; it is this assumption which separates this theory from other work motivation theories (Steers 1975). If their “relevant other” (Steers 1975, page 136) is someone in a different job being paid much more than them then there is the possibility that money will be a big motivator for that person as they aspire to reach a level of pay which is comparable to their significant other. Then what the expectancy theory would tell us is that the poorer man would be more motivated to carry out the task.
This American psychologist, who was very interested in people’s motivation and job satisfaction, came up with the theory.

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