Motivation strategies: Part 1 Flashcards
What is the definition of Performance-related pay
Performance-related pay is a financial reward that employees receive for reaching or exceeding a set business goal.
What is the 4 advantages of Performance-related pay?
- Employee goals can be directly and indirectly aligned with business objectives through remuneration.
- Can be used to motivate many employees at once, which can improve overall business performance.
- Employees can personally gain from achieving objectives through the tangible reward of increasing their wealth.
- Employees can be motivated quickly through the incentive of financial rewards
What is the 3 disadvantages of Performance-related pay?
- Employees may take harmful shortcuts to reach their set objective, potentially compromising quality.
- Over time, employees may require increases in the value of financial rewards to remain motivated.
- It can be time-consuming for the manager to review each employee’s performance against criteria and determine who receives a financial reward.
What is the definition of Career advancement?
Career advancement is the upwards progression of an employee’s job position.
What are the 3 advantages of Career Advancement?
- Promoting employees from within the business helps retain high performing employees, protecting the intellectual property of the business.
- Employees may feel more valued by the business when promoted, improving their overall morale.
- Promoting employees from within the business can be cheaper than recruiting new employees.
What are the 4 disadvantages of Career Advancement?
- Some employees may be promoted beyond their capabilities which may negatively impact business performance.
- Negative corporate culture may develop if employees begin to focus solely on career advancement.
- Some employees may not desire increased responsibility, so
motivation may not increase through a promotion. - Promoting employees to higher positions will usually involve an increase in the cost of wages.
What is the definition of Investment in training?
Investment in training is allocating resources to improve employee skills and knowledge.
What are the 3 advantaged of Investment in training?
- Employees can build a strong interpersonal relationship with management as both parties benefit.
- Employees may feel more valued as the business wants to advance their skills.
- The skills and knowledge gained from training may assist employees to complete tasks quicker.
What are the 3 disadvantaged of Investment in training?
- Training may not be directly relevant to tasks undertaken by employees.
- Some employees may not value improving their skills and knowledge.
- Training employees is time consuming and can delay the completion of work tasks.
What is the definition of Support?
Support strategies involve providing employees with any assistance that improves their
satisfaction at work.
What are the 3 advantages of Support?
- Employees who feel supported are less likely to leave the business.
- Employees may feel more valued by managers, as their wellbeing is being considered.
- Implementation involves very few additional expenses.
What are the 3 disadvantages of Support?
- May be ineffective if a manager does not have good interpersonal skills.
- May not motivate employees quickly if they do not see the benefits of support in the short term.
- Hiring wellbeing support for the business can be costly.
What is the definition of Sanction?
Sanction strategies involve penalizing employees for poor performance or breaching business policies.
What are the 3 advantages of Sanction?
- Can pressure employees to act in accordance with management instructions.
- Can motivate employees immediately as they will improve performance quickly to avoid punishment.
- Does not incur any immediate cost to implement.
What are the 3 disadvantages of Sanction?
- Prolonged use can lead to employees leaving the business.
- Levels of trust between employees and management may decrease.
- Replacing employees who have left due to excessive penalties can be costly.
