Motivation strategies Flashcards
Define performance related pay
Is a financial reward to employees who has reached a required standard of work or even above the standard.
Eg- commission or a bonus
Advantages of performance related pay?
- If set correctly the objective can be very motivating
- Provides financial reward to employees.
Disadvantages of performance related pay?
- Becomes very competitive and selfish
- Reduces equity in employees pay
Define appraisal
Is the evaluation of an employees performance compared to set objectives.
Financial reward
Who is performance related pay be suited for?
Junior or new employees.
Define career advancement
Is a motivational strategy used to promote positions. These include more responsibility or authority.
Eg- Job enlargement
-Job rotation
Advantages of career advancement
- Helps retain talented staff
- Acts as a reward to employees for hard work
Disadvantages of career advancement
- May demotivate staff overlooked for promotion
- Employees promoted beyond their capabilities
Define investment in training
A motivational strategy used by businesses by providing training to employees to enhance their skills.
-Providing positive learning environment boost motivation.
Advantages of investment in training
- Creates loyalty
- Positive corporate culture
Disadvantages of investment in training
- Expensive for businesses
- If employee leaves they take the investment with them
Define support
Is a motivational strategy where the manager installs belief into employees to help them overcome problems.
Advantages of support
- Employee feels valued
- Cheaper than training
Disadvantages of support
- May take up time
- Might take time to see benefits
Define Sanction
Is the punishment when an employee doesn’t comply with achieving a business objective.
Eg-Loss of job.