4.2 Motivation Flashcards
What is the main source of motivation for employees?
To earn salary/wages
What is the difference between a salary and a wage?
Salary - Payment for work expressed as a yearly amount and usually paid monthly in 12 equal payments
Wage - Payment for work done, given on a weekly basis
What is Remuneration?
The amount of pay given to an employee for producing work
Give examples of Monetary Remuneration
Piece Rate
Overtime
Bonuses
Commission
What is Piece Rate?
A payment system where the worker is paid for each piece of work they complete
What is overtime?
The extra time the employee has worked over and above the amount of time they are suppose to work
What is a Bonus?
They are paid if an employee has achieved a set objective or the business has achieved a particular goal
What is Commission?
Money is paid in addition to the basic pay
Give the formula for Commission
Commission = Cost of Service x Commission Rate
What is Non Monetary?
A range of benefits offered to retain employees
Give examples of Non Monetary rewards
Travel
Pension
Health Insurance
Training (Job Enlargement and Job Enrichment)
What is the difference between Job Enlargement and Job Enrichment?
Job Enlargement - More work
Job Enrichment - More challenges
Name Maslow’s Hierarchy of Needs starting from most to least important
Physiological Safety Love/Belonging Self Esteem Self Actualisation
Describe what is Physiological Needs
Breathing, food, water, sleep
Describe what is Safety Needs
Security of body, employment, resources, morality, family, health, property, secure job
