KK 3 + 4 Flashcards
5 motivation strategies PCISS
Performance Related Pay (financial strategy)
Career Advancement (non-financial strategy)
Investment in Training (non-financial strategy)
Support strategies (non-financial strategy)
Sanction strategies (non-financial strategy)
Performance related pay definition
is a financial reward to employees whose work has reached or exceeded a set standard
Performance related pay strategies
sales commission
profit sharing
employees being allocated shares
bonus
3 advantages to performance related pay
- Tangible way of recognising achievement
- Improve productivity levels
- Goals are normally clear and specific e.g. 50 sales in one week
3 disadvantages to performance related pay
- Reduces equality in employee pay -> bad morale
- Acts to demotivate if goals are too challenging
- Danger of sacrificing safety and quality over quantity
Career advancement
Where an employee is given opportunities to develop their skills and take on a new position in the business, one that involves increased responsibility.
job enrichment
making a job more challenging so workers are required to use their full
capabilities and gain personal growth
Career advancement advantages
- Helps business retain talented employees
-Retain intellectual property and continuity of knowledge - Reduced staff turnover as employees are encouraged to take on greater responsibilities in the business rather than seeking them elsewhere
Career advancements disadvantages
- Difficult to provide for all employees
-> resulting in some employees missing out on promotions -> causing resentment from these employees
Employee promoted beyond their capabilities
Employees level of productivity may be decreased due to broader responsibilities due to their job being enlarged
Investment in training
The business devotes resources to the process of enhancing the knowledge and skills of their employees -> employees to improve their abilities and perform their job at a higher level
Benefits for employee for iot
increased confidence, gain skills &
knowledge, satisfaction (feel they are contributing to business outcomes),
motivation and possibly pay.
Benefits for the employer for not
increased productivity, less errors, assists in building teams, possibility a greater ability to achieve business objectives.
IOT advantages
Create positive corporate culture
Increased job performance -> assists business to achieve objectives
Create a sense of loyalty and attachment to the business
Sanction strategies
A penalty for poor performance or disobeying a business policy. e.g. verbal warning
Support strategies examples
employee assistance program and mentoring programs
IOT disadvantages
- Loss of productivity when the employee is being trained
- Expensive to conduct training
- Overtraining employees can lead to increased stress for the employee and poor motivation
Support strategies
A business provides individual assistance and services designed to help employees cope with problems that negatively affect their lives and performance.
+ Support
helps improve the mental wellbeing of employees
Employees feel valued, increasing their commitment to the business
Helps develop a supportive culture where employees are collegial and care for each other
Support -
Might be expensive for the business
Level of support may be subjective, making it difficult to deliver support fairly to everyone
Sanctions
a penalty for poor performance or disobeying a business policy
+ to sanctions
Some employees motivated to act quickly for fear of being sanctioned
Some employees are motivated more by sanctions than incentives
sanctions -
A short-term motivator
May harm the working relationship between manager and employee
Cause resentment and conflict in business
