Methods of Motivation Flashcards
Remuneration -
money paid to employees for their work or services
Time rate -
payment system based on the amount of time employees spend at work
Gross pay -
pay before deductions, such as tax
Net pay -
money that employees take home. Gross pay minus deductions
Overtime -
workers get a higher hourly rate for working extra hours
Piece rate -
workers are paid according to how much they produce
Performance-Related-Pay (PRP) -
payment system designed for non-manual workers where pay increases are given if performance are met
Incentives -
something that encourages you to work harder
Bonus payments -
payments in addition to the basic wage for reaching target
Commision -
payment based on the amount of sales. A salesperson may be paid entirely on the bases of their sales record. Their income is nothing if no sales are made.
Promotion -
the chance of promotion at work will help to motivate workers; this may be because promotion nearly always comes with higher pay
Fringe benefits -
things received in addition to employees’ normal pay. (eg company car, use of company’s facilities such as gym, free private health insurance)
Job Rotation -
If the business allow employees to change jobs from time to time, this will give workers more variety and help to avoid feeling bored.
Job Enrichment -
jobs should be made more challenging and rewarding. It gives employees the opportunity to develop unused skills.