As stated by expectancy theory,money is a necessary part of any effective reward system.

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Expectancy theory suggests that employees are motivated by the belief that their efforts will lead to desired outcomes, and that these outcomes will be valuable to them. While money can be a motivator for some individuals, it is not the only factor that drives motivation according to expectancy theory. Other factors such as recognition, career advancement opportunities, and job satisfaction can also be effective components of a reward system.

As Stated by Expectancy Theory,money Is a Necessary Part of Any