Do you agree or disagree with the following statement? Monetary incentives are the most powerful to motivate employees. Are Monetary Incentives the Most Powerful to Motivate Employees?

Are Monetary Incentives the Most Powerful to Motivate Employees?
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Are Monetary Incentives the Most Powerful to Motivate Employees?
The workplace is increasingly becoming dynamic as managers are considering new ways of motivating the workforce. A happy employee implies improved productivity. For a company, it means fewer employee turnovers, more units produced, increased sales, and higher profits. Different companies have adopted various strategies of attracting and retaining their employees, such as better remuneration and bonuses, better work conditions, and performance appraisals. While money could be a significant motivation for employees, it does not seem to be the most vital stimulus. Questions abound whether monetary incentives are the most powerful way of motivating employees. In my view, better work conditions motivate employees more than money does.
A 2018 Gallup poll surveyed 80 companies drawn from various sectors and comprising employees from six countries. It established that 70% of the employees preferred favorable work parameters to higher salaries (Thakur, Kothiya & Bera, 2020). The findings reinforce the surmise I hav...