motivating and retaining staff Flashcards
what will motivated staff lead to?
-increased productivity,
-lower absenteeism,
-higher quality production,
-lower staff turnover,
-better reputation,
what are financial incentives?
payment systems that a business can use to keep staff and to keep the motivated, such as:
-salary,
-time rate,
-piece rate,
-overtime,
-bonus,
-commission,
describe the salary financial incentive:
-A salary is when an employees annual wage is divided up into twelve equal payments which are made every month.
-This allows employees to have a guaranteed monthly
-Teachers are usually paid in this way.
describe the time rate financial incentive:
-Time rate is when employees are paid per hour they work.
-This encourages employees to work longer hours, but does not reward them for hard work.
-Retail staff are usually paid in this way.
describe the piece rate financial incentive:
-Piece rate is when employees are paid per item produced.
-This can motivate employees to produce more items, but does not always mean that that they will produce items to a high standard.
-This payment system is usually used in factories.
describe the overtime financial incentive:
-Overtime is when employees work more than their contracted hours.
-Employees may be paid double time or time and a half for example.
-Overtime rates can be used when employees are working bank holidays or an organisation needs to finish an order for a customer on time.
describe the bonus financial incentive:
-Employees are given an extra payment, or bonus, for reaching sales or production targets.
-Some organisations may give employees an extra payment at Christmas as a reward.
-Employees are paid their bonus on top of their existing wage.
describe the commission financial incentive:
-Employees are paid a percentage of a products sale value, otherwise known as commission.
-This is paid on top of a basic salary.
-This payment system is usually used in car showrooms and call centres.
give examples of non-financial incentives:
-Allowing staff to work in teams to complete tasks.
-Providing staff with good pay and conditions.
-Organising regular meetings with staff.
-Providing training opportunities.
-Identifying staff who are ready for promotion.
what does offering flexible working practises give employees?
flexibility over when, where, and how many hours they work. There are different types of flexible working practices such as:
-home working,
-teleworking,
-flexi time,
-condensed hours,
-job share,
what is home working?
employees are work from home all the time or part of the time.
what is teleworking?
employees work away from workplace and use ICT to communicate, e.g. sales rep.
what is flexi-time?
employees can choose their start and finishing times as long as they work their contracted hours and an organisations ‘core time’, which is the time at which all employees must be in the workplace, e.g. between 10am and 2pm
what is condensed hours?
employees work their contracted hours but can so over 3 or 4 days instead of 5 days.
what is job share?
two (or more) people are sharing one full-time job, e.g. one employee works mornings and another employee works afternoons.
