management experts, sociologists and psychologists in depth and detail. A number of
theories, most of them the result of painstaking and detailed research, are in use to explain
human psychology in the workplace, the stressors and destressors of a working
environment, and the reasons behind employee performance, or for that matter, the lack of
it.
For all practical purposes, employee satisfaction is essential for corporate success and all
famous leaders of corporate enterprise apparently were also exceptional leaders of men.
Low attrition rates in companies is an indication of stable and employee friendly HR
policy and a barometer of corporate well being. The onset of higher employee turnover
brings with it indications of difficult times ahead and is considered as a serious competitive
disadvantage by business and financial analysts.
The issue of job characteristics and employee satisfaction has been looked at from a
number of perspectives. One view, which is followed by many, is the importance of
money. A number of employers feel that in todays multiple opportunity, flexi choice, work
from home environment, money is the basic reason for a person to take up a job,
furthermore that people work only for money. Companies that pay more usually get the
most applications be it at college graduation time for new entrants to the work force, or
later on for mid career shifts for middle and senior people. This school of thought feels
very strongly that employees join organizations, work and leave only for monetary
considerations and all other reasons, which involve non-monetary factors like challenging
assignments, caring environments, recognition and open communication channels are
nothing more than idle talk and blandishment, meant to cover up the stigma associated
with behaviour that is mercenary and devoid of any other so called redeeming features.
There are again many management experts and HRD specialists who feel that the theory of
money being the only real choice in an employment choice in a free market situation has
many serious limitations and indeed is deeply flawed. These experts feel that while money
is an important factor in the contemplation of an employment decision there are a number
of other factors, which also influence such choices.
The truth is far more complex and while the cynical continue to believe in the
overwhelming supremacy of money, in its power to buy happiness and satisfaction, be it in
personal life or the workplace, a number of management thinkers, social scientists and
corporate managers feel otherwise, advocating and using distinctly different HR
philosophies and policies.