Discuss Motivation and Rewards at Apple Inc.
Mariam Peyton is a professional Financial Analyst. She holds a Masters degree in Economics. She specialises in financial analysis and forecasting. Her expertise includes studying the financial performance of companies, markets and entire industries looking for trends, insights and information that can help you glean rich insights for use in academic and market research.
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Motivation is the inner force or impulse that drives one to achieve organizational goals. It involves the social, biological, cognitive, and emotional forces that compel an action toward a given goal. For any organization to reach its goal, a motivated workforce is the most important resource. A motivated workforce adapts the company’s philosophy and increases efficiency, building a successful organization. While it is easy for management to know what to expect from employees who share a similar background and culture, a multicultural workforce requires more time and dedication since the different employees will require different management and motivational techniques. While rewards play a major role in motivating employees, it is vital for employers to first understand their employees and what actually motivates them. While some employees see money as the main motivator, others find rewards such as raise in compensation, Promotion, positive feedback, and recognition to be more motivating.
This report examined the various ways through which Apple Inc. motivates its employees. It answered questions like; how does Apple Inc. motivate their employees? How does Apple reward employees?
How does Apple Inc. motivate its employees? An in-depth analysis of Apple Inc.’s HR practices shows that it motivates its employees through goal setting which helps them focus on their tasks and measure their progress. The goals are aligned with the organizational vision and strategy, as well as the individual strengths and interests of the employees. Apple Inc. also provides feedback and recognition to the employees for achieving their goals
Apple Inc. also uses the expectancy theory which states that employees are motivated when they believe that their efforts will lead to desirable outcomes. Apple Inc. ensures that the employees have the necessary skills, resources, and support to perform their tasks effectively. Apple Inc. also links the performance of its employees to various rewards, such as bonuses, stock options, free products, promotions, and career development opportunities.
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Discuss Motivation and Rewards at Apple Inc. Case Study
Key Learning Outcomes
By the end of the case, students should be able to:
- Explain the main theories and concepts of motivation and rewards in organizational behavior.
- Analyze how Apple Inc. applies these theories and concepts to motivate and reward its employees and stakeholders.
- Evaluate the strengths and weaknesses of Apple Inc.'s motivation and reward system and suggest possible improvements.
1.0 INTRODUCTION
This report examined the various ways through which Apple Inc. motivates its employees. It answered questions like; how does Apple Inc. motivate their employees? How does Apple reward employees?
Mullins (2016) defines motivation as the creation of incentives and a working environment that allows employees to perform to the best of their ability. It is a state of positive emotion resulting from the assessment of one's job experience. David and Anderzej (2010) referred to it as cognitive decision-making with the intention of making behavior aimed at achieving a given goal through initiation and monitoring.
Apple is a technology company engaged in the design, manufacture, and marketing of smartphones, tablets, and personal computers. The iconic iPhone has through the years become Apple’s biggest revenue contributor, one of the main reasons the company has become the first trillion firms globally. Apple Inc. as a company has been known for its innovative and high-quality products, as well as its culture of creativity and excellence. Apple Inc. uses various motivation and reward strategies to attract, retain, and motivate its employees among which include;
Motivation at Apple is usually through aligning employee goals and objectives to its vision; Apple Inc. has a clear and compelling vision of creating products that enrich people’s lives and change the world. This vision inspires and guides the employees to work towards a common goal and share the same values. Apple Inc. also ensures that the employees are aligned with the vision by having regular meetings, feedback sessions, and communication channels.
Goal setting: Apple Inc. sets challenging and specific goals for its employees, which help them focus on their tasks and measure their progress. The goals are aligned with the organizational vision and strategy, as well as the individual strengths and interests of the employees. Apple Inc. also provides feedback and recognition to the employees for achieving their goals1.
Apple applies the Expectancy theory of motivation; this theory states that employees are motivated when they believe that their efforts will lead to desirable outcomes. Apple Inc. ensures that the employees have the necessary skills, resources, and support to perform their tasks effectively. Apple Inc. also links the performance of its employees to various rewards, such as bonuses, stock options, free products, promotions, and career development opportunities.
Apple motivates its employees through offering benefits to its employees; it provides a comprehensive and competitive benefits package to its employees, which includes health insurance, a retirement savings plan, an employee stock purchase plan, paid time off, tuition reimbursement, wellness programs, employee discounts, and more. These benefits help the employees meet their personal and professional needs, as well as enhance their loyalty and commitment to the company.
These among others are some of the motivation and reward strategies that Apple Inc. uses to create a positive and productive work environment for its employees and it has enabled it to attract and retain talented and passionate people who contribute to its success and innovation.
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