Key terms(1.4.4) Flashcards
Bonus definition
a sum of money added to am employees wages/salary as a reward for performance
Commission definition
a payment to a worker based on a percentage of the value of sales
Consultation definition
employee opinions/feedback are sought when making business decisions
Delegation definition
authority to pass down from superior to subordinate
Empowerment definition
giving official authority to employees to make decisions and to control their own work activities
Financial incentives definition
monetary rewards used to help improve staff motivation and achievement
can include piecework, commission, bonuses, profit sharing, performance related pay
Flexible workforce definition
employees have choice over how/when they work by agreement with the company
e.g zero hour contract, homeworking, part time
Flexible working definition
offering different working hours/location/pattern of working that improve work life balance/motivation for employees
Job enlargement definition
giving an employee more work to do of a similar nature horizontally extending their workforce
Job enrichment definition
giving employees greater responsibility and recognition by vertically extending their work role
Job rotation definition
the changing og jobs or tasks
Maslows hierarchy of needs definition
the order of peoples needs starting with basic human needs
Mayos human relations theory definition
emphasises the importance of the ways in which people interact and how they are treated
motivation can improve when employees feel more involved
Motivation definition
the reason for peoples actions willingness and goals
Non financial methods of motivation definition
ways on encouraging employees without the use of monetary rewards
Non financial techniques definition
ways of encouraging employees without the use of monetary reward
e.g delegation, consultation, empowerment, team working, flexible working, job enrichment, job rotation, job enlargement
Performance related pay definition
financial reward to employees whose work is considered to have reached a required standard
Piece rate definition
a payment system where employees are paid an agreed rate for every item products
Profit sharing definition
form of financial incentive given to employees where part of the profit of the business is shared among the employees
Taylors scientific management definition
employee pay should be related to the amount of work they do/money is the most appropriate motivator for employees
Team working definition
organising people into working groups that have a common aim
Working conditions definition
the physical surroundings and atmosphere of the workplace and the way staff are treated by managers
