Chapter 22: Methods Of Motivation At Work Flashcards
What is remuneration?
The money paid to employees for their work or services to an organisation.
What did Taylor say about remuneration?
Taylor said that people only work because of the money they earn.
Why is money important according to Maslow?
Maslow stated that money helps satisfy workers’ physiological needs.
What is time rate pay?
Payment system based on the amount of time employees spend at work.
What is gross pay?
Gross pay is pay before deductions such as taxes.
What is net pay?
An employee’s earnings after deductions are substracted from their gross pay.
What is overtime pay?
Rate of pay above the normal rate to compensate employees for working extra hours.
What is a salary?
A salary is an annual payment, usually paid monthly, for non-manual workers.
What is piece rate pay?
Where workers receive an amount of money for each unit produced.
What are some problems with piece rate pay?
Cannot be used if work cannot be measured, quality reduction, and unsafe work practices.
What is performance-related pay (PRP)?
Payment system designed for non-manual workers where pay increases are given if performance targets are met.
What are some drawbacks of PRP?
Unfair appraisals, low financial incentives, and overly demanding targets.
What are bonus payments?
Payment in addition to the basic wage for reaching targets or in recognition for service.
What is commission pay?
Payment based on the value of sales, usually a percentage of sales made.
How does promotion motivate employees?
By offering career growth, higher pay, and more responsibilities.