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<p>If a resource is highly demotivated due to any reason (either salary or promotion) what is the best method to motivate him/her again? </p>
Interesting. Unwilling?
First, if you haven't done already, remind him of his signed duties and responsibilities.
Now, if you have done the first part already, then do the hard but motivating part... remove him from his job, demote him, fire him.
Why the latter? The thing is, you want to motivate him to do his part next time. So you demote him to show who is the leader who should be followed. So he would follow.
Last, fire him so he will have a self-realization, that he made a mistake and that he needs to do better in his next job so that he won't face the axe again.
So, did you motivate him when you fired him? You bet you did!