The "Ancient Story" very much reminded me of my experience at my current internship within a financial company. I am currently interning in the Wealth Management department with a team of three others. One being the Managing Director of the group who in ranked in the company's "Top Ten Wealth Managers" for having a large amount of assets under management. I often idolized individuals in the financial industry and looked at them with great prestige. However, interning within the industry and observing their weekly behavior, I do not observe individuals in Finance with such high regards as I did prior. The majority of the employees begin counting down the hours as soon as they enter the building. Most are visibly stressed and do not seem to hold their own position in such high regard. I was just recently told that I have the opportunity to hold a position there upon graduating. However, I would only be allowed to stay there for two years because they feel there are greater possibilities for me. Since their job requires discussing investing opportunities with their clients, an overall positive attitude is required. However, once they are done conversating with clients they resume to their un-motivated behavior. The saying, "money isn't everything" is very apparent within this industry. I believe that the majority of the employees were influenced by the Herzberg's "satisfying factors", such as recognition of a prestigious company in the industry, responsibility of large amounts of others belongings, and achievement recognition when acquiring new, high asset clients. These factors influence their performance within the company and give them the drive to go to work daily, regardless of their feelings towards their career industry. I also feel that these factors reinforce and motivate them to remain within the company and not change careers. Overall, the individuals working within the wealth management department all feed each other positive energy. Regardless how they feel about their activities at their workplace, they keep each other laughing.
I would influence employees to view their career in a brighter light because overall they are assisting others stay financially stable in such a unsteady economic environment. Their human needs shown in Maslow's Hierarchy are for the most part being more than satisfied. For instance, their lower-order needs are all being met. They have such friendly co-workers that they even spend time outside of work together, they interact with pleasant customers, and the teams supervisor is extremely accommodating. The financial industry has remained very unstable within the past four years, however wealth managers will always be needed. Very few individuals know the best IRA plans to invest within or which is the next up and coming stock. Therefore, they have high job security in comparison to other financial industries. They also receive safe working conditions and very fair compensation and benefits. Their physiological needs may not be as satisfying as social and safety needs, but they are still very apparent in their careers. Their higher-order needs are also met through esteem, they hold high responsibility. There may not be great room for advancement to a higher position, however they do receive praise and recognition. Also, participation in decision making is apart of their daily objectives and challenging work is definitely administered. Overall, they should view their positions in a greater positive light. There are many individuals that primarily have "lower-order" needs or barely at all. Working within a corporation where both your higher-order and lower-order needs are met is extremely fortunate. They are greatly satisfying others by making them profits in a time of economic instability and have the majority of satisfier factors within their career.
I agree with you about following maslows hierarchy of needs for satisfaction in the work place. the needs explain why people are driven by high self satisfaction creating high performance in the work place
ReplyDeleteI fully agree that people are driven by/need high self satisfaction in the workplace and like that you used Maslows needs to explain this. I had a similar view but used task significance. Its interesting to see the different ways these theories can explain similar ideas.
ReplyDeleteI also think that it is fortunate to satify higher-order needs including self-actualization needs and esteem needs at work. Not everyone is able to pursue what they really want to do while being able to make a living. I think some people at your compnany are motivated for taking difficulties as challenges. Looking at the glass half empty and half full, depending on the personal view. Many people try to get into the financial industry hoping to satify all needs. And it is possible if one can find his or her own motivation.
ReplyDeleteI agree with the fact that people are motivated by high satisfaction needs. If an individual isn't satisfied with their environment, surroundings or the people they work with then nothing will be enough to motivate them. Of course this changes depending on the individuals priorities, however I feel like everyone would want to work at a place where they're satisfied and are happy with what they are doing.
ReplyDeleteI agree that participation in decision making can be very important in changing the way an employee views his/her job. That employee could have previously felt that they did not play a major role in the company and their opinion didn't matter, which could result little to no motivation to complete a task. By changing this, and making employees feel important, that would dramatically change a persons perception on their job role and responsibilities, resulting in high levels of motivation and productivity.
ReplyDelete