In today’s fierce competition in business, corporations need to generate more revenue creatively while keeping costs at minimum level without sacrificing efforts. Michael Porter refers this current competition as ‘hyper competition’, which he thinks it best describes the intense development of business today. Amidst highly demanding consumers, companies spawn new methods and uncharted techniques to gain the lead within their industries. In order to reach optimum results, corporations are driven to perform operation effectively and efficiently, which suggests the needs for smart and bright people to run the companies business.
Unfortunately, as the company grows and the number of employees increases significantly, corporation often overlooks the urgency to re-design their organization in order to cope with the intense competition and to convey the employees’ career paths. In the absence of organization re-design, many companies encounter other challenges as key employees star leaving the companies in order to obtain better job offering including attractive remuneration and career paths in order to maintain employees motivation. Maintaining motivation requires attention toward many aspects of the work.
In order to create and maintain employee motivation, we need to pay attention to several important aspects, such as: job design, work organization, workplace condition, job satisfaction, financial rewards, etc. There are actually many other factors; nevertheless, I believe that financial rewards are still the most important of all. Concerning the issue, this paper discusses several elements regarding the taking care of subordinates by providing professional development like employees training, facilitating a work/life balance, and respect.
This paper also discusses Abraham Maslows hierarchy of needs and how his theory can assist in helping managers take care of their subordinates. 2. Taking Care of Subordinates 2. 1 Job Performance and Matters of Motivation The success of a company depends on how well employees of the company are motivated to accomplish the assigned tasks. However, motivation does not have to relate to bigger or bonus. For example, at Nokia, number one European brand and well-recognized brand in the world, finds out that their employees love to work with Nokia for having competitive working environment that Nokia offer.
The situation highlights that Nokia awards their employees with the desired and competitive working environment instead of larger salary to retain the employees. It turns out that this strategy works well at Nokia and it keeps that way until today (Doornik and Roberts, 2001). To motivate the employees, managers require certain level of understanding toward human nature itself. Human nature has a simple basic but develops to be very complicated subject relating to modern life. The Hierarchy of Needs theory by Maslow is one of the worldwide theory describing human needs (“Employee Motivation”, 2005).