Motivation and Retention Flashcards
1
Q
What are the benefits of having a motivated workforce
A
High employee retention, high employee performance, increased quality of goods and services.
2
Q
What is employee retention?
A
The decision for workers to continue working with a business or organisation year on year.
3
Q
What is the advantage to a business of employee retention.
A
Cost of recruitment is expensive.
4
Q
What are the two methods of motivation
A
Financial and non-financial.
5
Q
What are the four types of financial motivation?
A
Pay, bonus, profit sharing and fringe benefits.
6
Q
What are the types of non-financial motivation?
A
Praise, award schemes and work environment.
