Compensation within the work realm is a huge factor in the performance of many individuals from a day to day perspective. It largely impacts individuals psychological and can positively or negatively impact the firm that is providing these wages.
An instance for me where I felt that I was being well compensated occurs now at the Recreation Center where I manage the floor and staff intaking participants. Although it is still a student emplyment job and does not compare to future full-time positions, it is still a well compensated job for the work that I am performing. This has inherently led me to attempt to perform better at my job in all realms (customer service, conflict management, coworker relations) and has therefore provided the recreation center with better performance compared to if they paid me and my peers less.
With less compensation, I would feel undervalued and underappreciated which would directly result in my undervaluing the company or facility that I am working for. With this increase in pay relative to other positions offered at the school, I feel as though they are valuing my work and the work of my coworkers to a different degree. Not only has this position provided me with an increased paycheck to get me through school, but have also provided an onset of skills that I can also apply to the future.
This is a phenonena with many people in the work realm and through a study initiated by Glassdoor, “45 percent of employees were motivated to work harder when they have recieved a higher salary.” This number is not necessarily staggering to any means but gives a good indication that it is heavily appreciated by individuals who are given higher salaries.
Sources:
https://www.linkedin.com/pulse/high-salary-key-productivity-recent-research-saurabh-srivastava/