People in business Flashcards
Motivation
The factors that influence the behaviour of employees towards achieving set business goals
Labour productivity
A measure of the efficiency of employees by calculating the output per employee
Absenteeism
Employees’ non-attendance at work without good reason
Labour turnover
The rate at which employees leave a business
The theory of the economic man
The view that humans are motivated only by money
Piece-rate
Paying employees for each unit produced
Hygiene factors
The factors that must be present in the workplace to prevent job dissatisfaction
Motivators
The factors that influence a person to increase their efforts
Job dissatisfaction
How unhappy and discontent a person is with their job
Financial rewards
Cash and non-cash rewards paid to employees which are often used to motivate employees to increase their efforts
Non-financial rewards
Methods used to motivated employees that do not involve giving any financial reward
Hourly wage
A payment to employees based on a fixed amount for each hour worked
