Chapter 6 Flashcards
motivation
workers want to work hard and efficientively for their employer
wage
payment for work, usually paid weekly
time rate
wage based on number of hours worked
piece rate
wage based on number of units of output produced
salary
payment for work, usually paid monthly
commission
payment based on number of units sold
profit sharing
payment to employees based on a share of the profits of the business
bonus
additional payment to workers ,above the basic wage/slalary,as a reward for good work.
performance-related pay
pay is related to the performance of an employee’s. e.g. meeting pre-set objectives
share ownership scheme
give employees share in a company to encourage a sense of belonging and ownership
appraisal
assessing the effectiveness of employees
fringe benefits
non-financial rewards
job satisfaction
enjoyment employees can derive from work if they feel they have donde a good/rewarding job
job rotation
workers are asked to switch different tasks with other workers
job enlargement
tasks of similar level of difficulty/responsability are added to a workers job description