16.7 rewards Flashcards
1
Q
Monetary
A
- Additional payments beyond the employee’s minimum legal entitlements
2
Q
Monetary: DIRECT
A
- Wage increase
- Bonuses
- Commissions
3
Q
Monetary: INDIRECT
A
- Fringe benefits
- Company car
- Insurance
4
Q
Non-Monetary
A
- Intrinsic Rewards
- Fringe benefits
5
Q
Non-Monetary: INTRINSIC
A
- Interesting work
- Responsibility
6
Q
Non-Monetary: FRING BENEFITS
A
- Entertainment allowance
- Company credit card
7
Q
Individual or Group
A
- Reward for individual can cause conflict and rivalry
8
Q
Group Reward: ADVANTAGES
A
- Encourages greater teamwork
- Employees become more motivated as they are working not only for themselves but also for others
9
Q
Group Reward: DISADVANTAGES
A
- Not all employees apply equal effort to work
- Conflict may occur, restricting individual performance
10
Q
Performance Pay
A
- Portion of employee’s wage is based on performance
E.G. Commissions, piece rates
11
Q
Performance Pay: ADVANTAGES
A
- Financial rewards motivate employees
- Encourages unmotivated and inefficient employees
12
Q
Performance Pay: DISADVANTAGES
A
- Performance of employee is difficult to measure
- Possibility of conflict due to measuring performance
