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How Psychological Contract applied in a workplace

   

Added on  2020-03-04

13 Pages2651 Words183 Views
Organisational Behavior 1

Table of ContentsSection 01........................................................................................................................................3Who are millennials?...................................................................................................................3What is job satisfaction?..............................................................................................................3How is job satisfaction obtained?................................................................................................3Job satisfaction and performance.................................................................................................4Section 02........................................................................................................................................5What is motivation?.....................................................................................................................5Types of Motivation Theories......................................................................................................5Content and process theories....................................................................................................5Herzberg’s two factor theory....................................................................................................6Adams Expectancy theory........................................................................................................6Section 3: Psychological contract...................................................................................................7Simple Definition of Psychological contract...............................................................................7How Psychological contract applied in a workplace...................................................................7How Psychological contract represents in an employee and Employer......................................7How it contributes to organizations’ Vision and Mission............................................................7Section 4: Recommendation............................................................................................................9What is Extrinsic Motivation.......................................................................................................9How Effective is Extrinsic Motivation........................................................................................9Recommended motivation methods.............................................................................................9Possible Negative outcomes of the recommended motivation method.....................................10References......................................................................................................................................112

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Section 01Who are millennials? Millennial is the term mainly used to the individuals who reached their adulthood around the turnof 21st century; also termed as generation Y. It is the demographic cohort following thegeneration X. The generation that follows the generation X, with the birth years ranging from theearly 1980s to the early 1990s (Ball, 2012). This generation is mainly liberal towards theirpolitical ideology, practice religion less than the previous generations and grew in the age oftechnology and thus is very versed in technology. It is estimated that the Millennials make up to21% of consumer discretionary purchases. What is job satisfaction?Job satisfaction can be termed as the degree of happiness workers feel about their work, whichcan affect performance. Job satisfaction can be influenced by an individual’s ability to finish therequired tasks, the level of communication in an organization and the way administration treatsthe employees. The Millennial generation is expected to grab the 75% of the total workforce by2035. Thus, it is crucial to understand the indicators of the millennial job satisfaction (Bisht,Chaubey & Thapliyal, 2016). These young workers are more prone to job satisfaction than theirpredecessors. The change of career path is enabled for the Millennials and even encouraged byLinkedIn and other social networking platforms. How is job satisfaction obtained?A job satisfaction is a feeling of fulfillment of enjoyment that an individual or a worker derivesfrom their job. The most important factor that is requiring obtaining the job satisfaction is theengagement. It is important that individuals engages in their work and are focused andproductive. If a worker is completely engaged in his or her work, it is likely that he or she will beable to find their individual strengths. Other factors that assist in obtaining job satisfaction arethe respect, praise and appreciation. Millennials in the current business context wants fulfillmentat work along with fulfillment at home. It is important that organizations gives respect to themillennials at the workplace and also appreciates their work as they work for purpose and not forpaychecks (Kwong, 2016). According to the survey conducted by Society for Human Resource4

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