This essay examines the impact of monetary rewards on employee relationships and motivation, drawing upon various organisational behaviour theories. It discusses how globalisation has increased the demand for talented employees, making retention a crucial factor for organisational growth. The essay analyses personality and attitude theories, such as Cattell's 16 personality factors and Maslow's hierarchy of needs, to understand how monetary rewards influence employee motivation and relationship building. It further explores Herzberg's motivation-hygiene theory, highlighting that while financial incentives can reduce job dissatisfaction, they are insufficient for fostering job satisfaction and strong employee relationships. The essay also considers the Social Cognitive Theory, suggesting that an over-reliance on monetary rewards can create a competitive and hostile work environment. It concludes that while monetary rewards have a role in motivating employees, a holistic approach considering factors like working conditions, policies, and workplace relations is essential for long-term employee engagement and organisational success.
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