Monetary and Non-Monetary Motivations for Students to Undertake Work in the Light of Original Research
Purpose: The purpose of this article is to identify both wage and non-wage factors that motivate students to take up work. The article seeks to answer which wage and non-wage factors are most important to students when deciding to take up a job and how these dependencies can be encapsulated. Design/Methodology/Approach: The study utilizes a survey methodology with a sample size of 510 respondents. The research hypothesizes that among students, wage factors such as high salary and an attractive bonus and rewards system, as well as non-wage factors like flexible working hours and advancement opportunities, are key motivators for taking up work. Findings: The findings reveal that high salary and an attractive system of bonuses and rewards are the most significant wage factors motivating students to take up work. Additionally, the flexibility of working hours and the potential for career advancement were identified as significant non-wage factors. Practical Implications: The results suggest that employers seeking to attract and retain qualified staff should consider both wage and non-wage factors in their motivation strategies. High salary, attractive rewards, flexibility in working hours, and potential for career advancement have been identified as key motivating factors. The individual character of motivation and the need to adapt motivational strategies to the specifics of the organization and its employees should be considered. Originality/Value: The originality of this article lies in its attempt to quantify and model motivation to take up work, by considering both wage and non-wage factors. It provides a formula to understand and forecast how different factors affect the decision to take up work. Despite its limitations, this formula potentially serves as a tool to assess and modify motivational strategies.