Abstract
This paper aim to assess the effect of financial and non-financial rewards on employees’ motivation along with mediating effect of employee’s commitment on relationship of financial and non-financial rewards with employees’ motivation in pharmaceutical industry of Indonesia. For achieving the purpose, structural equation modeling was performed on collected data from 235 employees through self-administered questionnaires from pharmaceutical industry in Indonesia. This research found significant and positive effect of non-financial payments with employee motivation in results of direct relationship, current study found positive but insignificant effect of financial rewards on motivation during direct relationship. This study also found significant results of effect of financial and non-financial rewards on employee commitment. Furthermore current study found positive significant results during mediation by employees’ commitment between financial rewards, non-financial rewards with motivation, and employee commitment proved as good mediator. Implication and recommendations were also discussed in current research.
Keywords: Employees’ motivation, Employees commitment, Financial rewards, Non-financial rewards.
JEL Classification: F36, G40, L25.
Received: 21 December 2020 / Revised: 10 February 2021 / Accepted: 8 March 2021/ Published: 29 March 2021
Contribution/ Originality
This study has contributed in extension of literature on both financial and non financial rewards’ importance in employee motivation. Further to this, this is one of the few studies conducted in Indonesia, especially in pharmaceutical industry.
1. INTRODUCTION
Human resource management (HRM) has a significant role in any organization to implement HR policies and make their employees satisfied in their workplace. Employees put their maximum efforts when they expect their work can be recognized by their employers. In the absence of, proper policies and procedures which can be entertain and arranged by HR department in any form including equitable pay policy, training and development opportunities and well reorganization of the work. The dissatisfaction from work may the cause of no proper existence of reward which leads towards high level of intention to leave and poor performance.
Employee cannot be performed when no actual policy is existed to make their identification in the front of employer which makes them demotivated. Therefore, employees cannot be given their best due to dissatisfaction level and that dissatisfaction would be the cause of turnover intention in the future. Financial and non-monetary rewards are the factors which influence motivation in the employees to give their best and make reorganization in the front of employers. Armstrong (2016) stated that rewards are divided into two main categories: (i) Financial reward which can be identified by monetary reward while (ii) Non-financial rewards which are also documented by as a non-monetary reward Armstrong (2016). Financial reward including merit pay, basic pay, incentives, utility allowances, medical allowances, commission and bonus. Non-financial awards including reorganization at the workplace, decision participation roles, promotion and working with the flexible hours.
The financial reward can also be recognized by monetary and extrinsic rewards and non-financial can be called non-monetary and intrinsic rewards. In pharmaceutical, companies are facing fierce competition in the market, however strong and competitive work force has a competitive edge to get and protect their market share in the highly competitive market. In the current study, modern motivation theories will be tested in the context of the contemporary financial crises confronted by Indonesia (Astari, 2019). The inspiring sales force in the pharmaceutical SMEs sector is deliberated in the incidence of layoff pressure on employees of the Pharmaceutical SMEs. The research will investigate to understand the applicability of the financial and non-financial rewards (monetary and non- monetary motivators) for sales force motivation in the in pharmaceutical SME firms of Indonesia. Secondly, this research will explore the techniques that can be enhanced and motivate towards their work in the pharmaceutical sector of Indonesia.
Table 1 contains summary about the SMEs units, their employment status, and contribution to export and GDP in Indonesia adding more to labor productivity.
Table-1. Key characteristics of Indonesian Enterprises 2017.
Type |
total units |
employment |
GDP |
Export |
labor Productivity |
MSME |
99.99 |
97.3% |
57.08% |
14.17% |
USD, 44,144 |
Micro |
98.92 |
90.8% |
30.06% |
1.26% |
USD 8,400 |
Small ent: |
0.99 |
3.5% |
12.54% |
2.48% |
USD 41,460 |
Medium |
0.08 |
3% |
14.49% |
10.44 |
USD 82,540 |
Source: OECD (2018).
Keeping in view the importance of SMEs contributions hence there is dire need to have focus on sale force teams’ motivation in pharmaceutical SMEs in Indonesia.
2. LITERATURE REVIEW
2.1. Employee Motivation
Motivation is the capability which convince other employees to perform and give their optimum level of performance to improve the firm performance (Dessler, Cole, & Chhinzer, 2015). Similarly, as a result, employees expected that all would be rewarded those perks and benefits to them and for their family. Motivation is the collection of different feelings which enable the employee to keep maintain his performance during work to achieve targets and goals (Baron, Rea, & Daniels, 1992).
Moreover, Motivation is defined as the process which helps to individual to proceed with ongoing learning process to accomplish and achieve their optimum level of performance. According to Nickson (2013) argued that human resource management practices involve employees to give their best and ultimately job involvement leads to job satisfaction of an employee (Nickson, 2013). Motivation brings from the inner side of employee to perform work with enthusiasm in the right direction with persistence of efforts which helps to achieve the organizational goals.
Organizational performance is based on motivated and talented workforce, because only motivated and talented workforce have ability to confront with difficult task and perform with zeal and zest. The more the motivation an employee is, the productive performance will be given. Motivation towards the work has shown the dedication of the employees to achieve the company objectives. Human resource is the key asset to any organization to get competitive edge over other competitors (Datta, Guthrie, & Wright, 2005).
Motivation is the force which stimulate employees to execute their work in an efficient way (Van Knippenberg, 2000). However, demotivation is the vice versa, employee do not use their efficiency while performing job when are demotivated from the employer. Unhappiness and negative attitude towards a job negatively impact on performance (Smith, Karaman, Balkin, & Talwar, 2020).
2.2. Financial, and Non-Financial Rewards, and Motivation
Financial and non-financial compensations have a significant impact over a motivation of the employees, and which directly influence on organizational performance. With the passage of time, importance of financial and non-financial rewards is varied. Financial and monetary reward has a more significant role after getting exceed amount in pay which ultimately motivate employees to do their best.
The success of firm is depending on motivated employees and in what manner they assess the performance of the employees which helps to set the compensation. Monterey rewards has a great weightage to keep motivating employees in their existing firms because money can fulfill the need of the employees as well as fulfil the basic requirement of their belongings. However, non-monetary has also its own worth. Apart from money, there are other factors also exist which can also motivate the morale of employee. Hence, financial and non- financial rewards are co-related to each other (Mayo, 2014; Taylor, 2003).
Organizational goals are the outcome of the employee performance, in order to get optimum level of work from employee, motivation can be used as strong tool which trigger employees to integrate their performance with the performance of the company. The synchronization between the performance or firm achievement can be strengthen the motivation to perform at optimum level (Atkinson, 1958).
Harunavamwe and Kanengoni (2013) discussed that non-monetary reward has a partially significant effect on less motivated employees. The empirical research result has shown that there were no significant positive influence monetary rewards on employee motivation in high level of management (Harunavamwe & Kanengoni, 2013).
The few past researches supported that there were few diverse factors that influence the motivation of the employee. In Indonesia, financial reward has an important part in the participation of employee, despite that non-financial factor has also significant role in the performance of employee which cannot be discriminated from financial rewards. Tausif (2012) delineated that non-financial rewards can be strong determinants of the job satisfaction. The level of satisfaction will increase with the experience level of employee. The senior employees are more pleased with non-financial rewards (Tausif, 2012; Yousaf, Latif, Aslam, & Saddiqui, 2014).
Subjective measurement of such factors is more significant to determine the motivation of the employee rather than objective manner. However, financial incentives improve the employee productivity and directly enforce to get the organizational goal, hence, financial and non-financial motivation process has an equal significance in the life of employees to give their best at the workplace. Therefore, this study has been hypothesized as:
H1: financial rewards positively affect employee motivation.
H2: non-financial rewards significantly affect employee motivation.
2.3. Financial and Non-Financial Rewards and Employee Commitment
Armstrong. (2012) stated that purpose of reward supervision is to make sure that business targets are supported and enforce by employees to develop commitment by himself with in the culture of organization (Agwu, 2013; Armstrong, 2012). Similarly, in many organizations, commitment gap is widening due to less attachment and motivation towards the work. Expectation from the employer and workplace lessen the employee commitment from the work. The common reason has found that management do not have appropriate way forward to enable employees with their work.
In organization, making a strong team and satisfied personal have an autonomy to take immediate decision at the right time for the prosperity and well performance of the organization. Consequently, managers are empowered to take initiatives when organization required optimum level of performance to achieve their goal and targets.
Sutela et al. (2009) delineated that rewards which are non-monetary in nature, such as leave with financial assistance (LFA), family medical and support, regard employee as a respectable way that he invested his precious number of years for the betterment of this organization or at workplace (Sutela et al., 2009). This idea further supported by Chiang and Birtch (2012) who focuses that when company regard their senior employees and give values towards the efforts of employee, then employees also try to hold or welcome those values. Moreover, the commitment of employee towards the company have shown the sincerity level and satisfaction level of employee towards organization (Luthan, Peterson, & Suzan, 2006).
After extensive literature review, it is found that there is positive substantial connection between non-monetary motivations and employee organizational commitment (Agwu, 2013; Chiang & Birtch, 2012; Delic, Kozarevic, Peric, & Civic, 2014; Luthan et al., 2006). Therefore, this study hypothesized that:
H3: financial rewards have positive significant effect on employee commitment.
H4: non-financial rewards are significantly associated with employee commitment.
2.4. Employee Commitment and Employee Motivation
Employee commitment can be defined in the different context (Cohen, 1993). Employee commitment has an ability where employee congruence with individual goals with organizational goals, Employee identifies that organizational performance has outcome of employee commitment, Ulabor and Bosede (2019). Since long time, employee commitment and career commitment has significant importance in the work place and all the organization where employees has shown their complete enthusiasm towards achieve company goals due to high level of commitment (Holden, 1998; Jaramillo, Mulki, & Marshall, 2005; Kam, Morin, Meyer, & Topolnytsky, 2016).
According to Feldman and Moore (1982) specified that, it is essential for any organization to survive it should have committed human capital with required skills. Reason being that in modern business environment employee commitment is vital parameter of success. Through commitment work conflicts can be avoided because of having good relations at work which help the employees to increase their motivation level. Work teams can resolve the conflicts. If team members resolved the rising conflict effectively then it will be leading to more strong relations and motivation among employees at work. Hence keeping the vital role of employee commitment current research hypothesized as:
H5: Employee commitment positively affect employee motivation.
H6: Employee commitment will mediate the relationship of financial rewards with employee motivation.
H7: Employee commitment will mediate the relationship of non-financial rewards with employee motivation.
Figure 1 contains framework of the current research, containing two independent variables (financial and non-financial rewards), one mediator (employee commitment), and dependent variable (employee motivation).
3. METHODOLOGY
The current study has chosen cross sectional approach, in which researcher collect the data through developed instrument. The sampling technique was involved in two stages because date was collected from two respondents (Dimoula, Fotiadis, Folinas, & Gasteratos, 2018). Purposive sampling is appropriate which helps to find respondent who was served the purpose of research. In first stage, data was collected from Owners/managers of the large-scale pharmaceutical SMEs firms operating in Indonesia. In second stage, data was collected from sales representative, which helps to measure accuracy in the data which was provided from two different sources.
Out of 384 self-administered questionnaires, 245 were received from respondents. Questionnaire was consisted on two parts. A part from demographic information of the respondents financial reward, non-financial rewards, employee commitment and employee‘s motivation. Questionnaire was based on 08 number of items for employee motivation, 06 items of financial rewards, 05 items non-financial rewards, and 05 employee commitment.
After data screening 235 questionnaires were used in final analyses this represents 61.2% final response rate, employees of pharmaceutical SMEs operating in Indonesia to measure their motivation level. Data were first analyzed with the help of SPSS23, and structural and measurement models were assessed through Smart PLS 3.
4. DATA ANALYSIS AND RESULTS
Table-2. Loading, Composite reliability, and average variance extract.
| Latent Variable | Loadings |
CR |
AVE |
R2 |
| Financial Reward | ||||
| FR1 | 0.601 |
0.868 |
0.525 |
|
| FR2 | 0.728 |
|||
| FR3 | 0.787 |
|||
| FR4 | 0.777 |
|||
| FR5 | 0.735 |
|||
| FR6 | 0.704 |
|||
| Non-Financial Reward | ||||
| NFR1 | 0.771 |
0.878 |
0.592 |
|
| NFR2 | 0.797 |
|||
| NFR3 | 0.634 |
|||
| NFR4 | 0.767 |
|||
| NFR5 | 0.86 |
|||
| Employee commitment | ||||
| EC1 | 0.625 |
0.903 |
0.574 |
0.655 |
| EC2 | 0.799 |
|||
| EC3 | 0.767 |
|||
| EC4 | 0.759 |
|||
| EC5 | 0.844 |
|||
| EC6 | 0.783 |
|||
| EC7 | 0.705 |
|||
| Employee Motivation | ||||
| EM1 | 0.699 |
0.91 |
0.559 |
0.698 |
| EM2 | 0.754 |
|||
| EM3 | 0.837 |
|||
| EM4 | 0.776 |
|||
| EM5 | 0.762 |
|||
| EM6 | 0.827 |
|||
| EM7 | 0.659 |
|||
| EM8 | 0.646 |
4.1. Descriptive Analysis
Structural equation modeling approach was used through Smart PLS 3. Measurement model was assessed through PLS algorithm through which validity and reliability was assessed. Each item reliability was assessed which cater each item outer loading (Hair Jr, Sarstedt, Hopkins, & Kuppelwieser, 2014) each item must have outer loading 0.50 or above (Hair Jr et al., 2014) outer loading of each item was found well above mentioned criteria refer Table 2. Further for internal consistency composite reliability approach was used, composite reliability (CR) score must be at least 0.70 or above (Bagozzi & Yi, 1988) CR was also found well above (mentioned in Table 2) recommended criteria. Beside this convergent validity was assessed through average variance extract (AVE) grounded by Fornell and Larcker (1981) criteria. Current study found AVE scores well above recommended criteria of 0.50 (Chin, 1998).
Beside this discriminant validity was also assessed through HTMT Criteria. Table 3 contain the HTMT values which are well below the threshold of HTMT0.85.
Table-3. HTMT (Heterotrait-monotrait ratio of correlations).
1 |
2 |
3 |
4 |
||
| Employee commitment | ------ |
||||
| Employee motivation | 0.823 |
------- |
|||
| Financial rewards | 0.776 |
0.688 |
------- |
||
| Non-Financial rewards | 0.811 |
0.866 |
0.808 |
------- |
Figure-2. Measurement model (full model algorithm).
Figure 2 contain the analyses summary of measurement model (PLS algorithm).
After assessment of measurement model through PLS algorithm, model was assessed through structural equation modeling using bootstrapping to test the hypothesis. Results of hypothesis of current study are depicted in Table 4. and Figure 3. Out of 7 hypothesis (5 direct hypothesis and 2 indirect hypothesis) one direct hypothesis was not accepted which was predicted as “financial rewards has positive significant influence on employee commitment” current study found positive but insignificant results (β=0.044, t value = 0.46, p value = 0.46) so based on p value this hypothesis was considered as rejected. While applying mediation of employee commitment between relationship of financial rewards with employee motivation, current study found significant results (β= 0.077, t value = 2.196, p value =0.028) and considered as accepted. Beside this employee commitment also found as significant mediator between relationship of non-financial rewards with employee motivation (β=0.395, t value =7.966, p value <=0.000). Rest of the hypothesis were found according as hypothesized based on evidences in literature.
Hypothesis |
beta |
t-value |
p-value |
Decision |
EC -> EM |
0.563 |
9.542 |
0000 |
Supported |
FR -> EM |
0.044 |
0.46 |
0.46 |
Non- Supported |
FR -> EC |
0.136 |
2.327 |
0.02 |
Supported |
NFR -> EM |
0.28 |
3.851 |
0000 |
Supported |
NFR -> EC |
0.702 |
13.348 |
0000 |
Supported |
FR -> EC -> EM |
0.077 |
2.196 |
0.028 |
Supported |
NFR -> EC -> EM |
0.395 |
7.966 |
0000 |
Supported |
Figure-3. Structural equation modeling (full model bootstrapping).
Table-5. Blindfolding Results.
SSO |
SSE |
Q² (=1-SSE/SSO) |
|
| Employee Motivation | 1880.000 |
1152.571 |
0.387 |
| Employee commitment | 1645.000 |
1038.338 |
0.369 |
| Financial Reward | 1410.000 |
1410.000 |
|
| Non-Financial rewards | 1175.000 |
1175.000 |
Beside this Table 5 depict the predictive relevance was also assessed through Q2 value by applying blindfolding technique. As it is suggested that Q2 value must be greater than zero, hence current study found all Q2 values well above recommended range and from Q2 values existence predictive relevance can be traced.
5. DISCUSSION
Current study tried to fill gap and insignificant results found between financial rewards and employee motivation among Salesforce teams working in Indonesian SMEs pharmaceuticals. Current study outlined that rewards are helping tools for the sales forces teams in pharmaceutical SMEs to increase their motivation. Outcomes of current study are in line with the literature (Yousaf et al., 2014) this can be elaborated that, rewards (financial and non-financial) are key motivating factors which increase the motivation of employees at different levels. In current study, findings disclose that sales force teams of pharmaceutical SMEs employees perceive rewards as essential which positively increase their motivation. Hence this can be asserted that employee motivation is linked with rewards and commitment, so it is necessary that proper rewards system should exist in work environment to motivate the employees.
Along with this findings of current study regarding effect of reward systems on employee commitment is found significant and is in line with the literature (Jaramillo et al., 2005) this confirm that rewards either financial or non-financial can also increase the employee commitment which will be beneficial for both employees and organization. Thus, concludes that increasing level of rewards also increase the employee commitment with organization and employment is utmost important in sales force teams. Finally, this can be worded that financial and non-financial rewards and employee commitment is essentially important for employee motivation, especially among sales force teams of pharmaceutical SMEs in Indonesia.
5.1. Implications
Based on finding current study appeals many implications. Related to research, current study helps researchers and scholars regarding effects of rewards and commitment on employee motivation. Finding suggest that the emerging economies like as Indonesia can have larger employees (labor market) with lot of working assignments and targets may cause them less motivated so current study results identified critical need of rewards and commitment as important factor to keep employees motivated.
Pertaining to pharmaceutical SMEs sector in Indonesia current study provides critical implications. As current study found significant effect of non-financial rewards in direct relation to motivation and financial rewards significant effect through employee commitment on employee motivation. Furthermore, human resource department officials (management) need to participate actively to keep momentum of motivation in employees through proper rewards system policies.
5.2. Limitation and Future Recommendations
Current study has several limitations such as current study focused sales force teams in pharmaceutical SMEs in Indonesia and current study was set as cross sectional. Keeping this limitation in mind future study can be conducted by targeting admin staff or top management in pharmaceutical industry and other industries like as banking, telecom, airlines to know that how they perceive the motivation and rewards system along with commitment as essential for survival and success of employees and organizations. Further longitudinal experimental studies can be ducted to see before and aftereffects of rewards and commitment on employee motivation.
Additionally, current study only focus on rewards, commitment as predictors of motivation, future studies can be carried out by considering different variables like work environment, and other management behavioral aspects as predictor of motivation among employees.
6. CONCLUSION
Current study has focused to examine critical importance of financial and non-financial rewards along with employee commitment towards employee motivation. Current study has filled the gaps related to effects of different factors like as financial rewards and non-financial rewards and employee commitment can be important factors as motivators among Salesforce team of pharmaceutical SMEs in Indonesia which lead them as motivated teams. Current study also has focused aspects for practitioners for focusing on purposeful promising results which increase the motivation among Salesforce teams in pharmaceutical SMEs industries in Indonesia.
Funding: This study received no specific financial support. |
Competing Interests: The authors declare that they have no competing interests. |
Acknowledgement: All authors contributed equally to the conception and design of the study. |
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