Motivating and Retaining

Question 1

What are the 6 financial incentives used to motivate

Answer 1

Increased salary
Time rate
Piece rate
Bonus
Commission
Overtime

Question 2

Describe increased salary

Answer 2

An employee is paid a fixed amount per year in 12 equal instalments (once every month)

Question 3

Describe time rate

Answer 3

Employee is paid per hour that is worked (e.g. £6.50 per hour)

Question 4

Describe piece rate

Answer 4

An amount of money is paid for each item that an employee produces.

Question 5

Describe bonus

Answer 5

Receiving an additional payment on top of a salary or time rate.

Question 6

Describe commission

Answer 6

A percentage of money is paid based on the value of sales that an employee makes.

Question 7

Describe overtime

Answer 7

When an employee works over the minimum required number of hours. Overtime is usually paid at a higher rate than normal (e.g. double time)

Question 8

What are the 7 non-financial incentives

Answer 8

Job share
Flexitime
Teleworking/Homeworking
Training
Social events
Extra holiday entitlement
Nine day fortnight

Question 9

What are the 4 working practices

Answer 9

Job share
Flexitime
Teleworking/Homeworking
Nine day fortnight

Question 10

Describe job share

Answer 10

Sharing one job role with another employee.

Question 11

Describe flexitime

Answer 11

Employees having some flexibility in choosing how they complete their working hours. Employees may be required to attend work during core hours (e.g. 10am-2pm)

Question 12

Describe teleworking/homeworking

Answer 12

Working away from the office by keeping in touch using electronic communication (e.g. email, mobile phones)

Question 13

Describe training

Answer 13

Offering employees the opportunity to improve their skills/knowledge.

Question 14

Describe social events

Answer 14

Hosting work-based social events to improve relationships in the workplace (e.g. work BBQs)

Question 15

Describe extra holiday entitlement

Answer 15

Being offered more paid days off work than the legal minimum.

Question 16

Describe nine day fortnight

Answer 16

Employees get every second Friday off. Working their contracted hours over 9 days instead of 10.

Question 17

Benefits of motivating staff (4)

Answer 17

Increased productivity.

Reduced absenteeism.

Lowered staff turnover.

Improved relationship between staff and management.

Question 18

Costs of motivating staff (3)

Answer 18

Financial cost of certain financial incentives can be high.

Uses up management time on non-core aspects of the business (e.g. social events)

Staff being dissatisfied by the perceived unequal issuing of incentives.