4.3 - Motivating Employees Flashcards
What is staff retention?
Keeping employees working for business
What are the five main ways a business uses financial motivation?
Remuneration
bonuses
commision
promotion
fringe benefits
What is remuneration?
The money an employee is paid for their work
What is a bonus?
An additional remuneration for achieveing something
What is commision in a business?
A percentage of profit from a product that an employee gets if they sell it
What are fringe benefits?
Additional employement perks like a company car or free food
What are the three main ways of non-financial motivation?
Job rotation
Job enrichment
Autonomy
What is job rotation?
Where an employee has a large amount of different job roles
What is job enrichment?
Giving employees a wider range of tasks to morivate them and give more responsibility
What is autonomy?
The amount of responsibility of decisions an employee has
What would anhigh autonomy allow an employee to do?
Make more decisions
