Motivation Flashcards
What is motivation
Will to work, enjoyment of work
Methods available to motivate employees
- financial methods, salary, bonus
- non financial methods, passing on responsibility, praise
what was Taylor’s view on pay
Emphasises pay, peice rate as best way to pay employees
What is mayo Maslow amd herzbergs view on pay
Non financial rewards acted as a better incentive for employees to work harder
reasons why people work
- earn money
- sense of achievement
- belong to a group
- sense of security
- obtain feeling of self worth
main financial incentives
- wages
- salaries
- bonuses
- commission
- performance related pay
- profit sharing
- share options
- fringe benefits
What is a wage
Paid per hour , receive at the end of the week
What is a salary
Annual salary paid at end of each month
What is a bonus system
Only paid when certain targets have been achieved
What is commission
Paid according to number of products sold
What is profit sharing
Employees receive a proportion of companies profits
What is performance related pay
Paid to those who meet certain targets
What is share options
Senior managers given shares in company
What are fringe benefits
Items an employee receives on top of wage e.g company car
Non financial incentives
- empowerment
- praise
- promotion
- job enrichment
- job enlargement
- better communication
- working environment
- team working