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Employee Motivation in the New Economy Richard M. Steers University of Oregon 22 September 2006

2. Today's talk:. The new employment realities at work.Impact of new realities on employee motivation and commitment.Strategies for enhancing employee motivation.What is missing? Future directions for theories of work motivation.. 3. Today's business environment. Characterized by:Increased glob

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Employee Motivation in the New Economy Richard M. Steers University of Oregon 22 September 2006

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    1. Employee Motivation in the New Economy Richard M. Steers University of Oregon 22 September 2006

    2. 2 Today’s talk: The new employment realities at work. Impact of new realities on employee motivation and commitment. Strategies for enhancing employee motivation. What is missing? Future directions for theories of work motivation.

    3. 3 Today’s business environment Characterized by: Increased globalization (“smaller”) Increased competition (“faster”) HR challenges: Taking care of employees while remaining competitive in the global economy. Using employees as a competitive asset in the global economy.

    4. 4 Some examples of workplace changes Significant downward pressure on wages. Simultaneous downsizing and expansion in the same firms. Increased workforce diversity, with differing needs. IT has changed the manner and location of work activities. New organizational forms (e.g., e-business) are now commonplace. Teams are redefining the notion of hierarchy and power. Use of contingent workers is increasing significantly. New influx of knowledge workers, who often require a different approach to management and motivation. The challenges of managing across borders has increased significantly.

    5. 5 The new employment realities at work: Two paradoxes Paradox #1: Korea and the U.S. are major economic powerhouses, yet both are in jeopardy of losing ground to other nations in the new global economy.

    6. 6 Paradox #2: At a time when employers need a highly motivated and committed workforce more than ever to compete, market forces are working to reduce their capacity to achieve this.

    7. 7 Old days . . . “Let’s build a company that will last a thousand years.” -- Konesuke Matsushita

    8. 8 Now . . . “Faster, better, cheaper.” -- Intel Implications for HRM?

    9. 9 Some consequences of the new employment realities: Psychological contract between employers and employees has become irrevocably broken. Devaluation of employees at all levels--but particularly at the lower levels. Increasingly short-term focus in HRM policies. Increased use (and misuse) of part-time and contingent workers.

    10. 10 Impact of new employment realities on job performance Employee performance is influenced by: Employee motivation Employee abilities and skills Work environment characteristics The new employment realities affect all three!

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