U3 AOS 2 CH2F Felix Flashcards
What are performance related pay(n.) strengths
+Very personal goal focussed
+If correctly set, objective can be very powerful and motivating.
What are performance related pay(n.) limitations
-Becomes very competitive and potentially conflicting/selfish(if everyone is seeking to achieve the same sale to get the pay=all competing for the same customer.)
-Hard to focus on team goals
-Lose focus of broader objectives(thinking only about what you need to achieve to get money)
-One part of the business may be pitted against another
-Only works if employees are motivated by pay, e.g. Is unlikely to be strong motivator for social enterprises
What are performance related pay(n.) effects on short term motivation
+Employees are powerfully motivated to immediately receive financial rewards.
What are performance related pay(n.) effects on long term motivation
-Employees can begin to be demotivated if they constantly compete with others to achieve financial rewards.
-The richer on person becomes, they may become more content with what they have, and performance related pay may become a less powerful incentive to work.
-competitiveness=it can be selfish=some people like that long term, but for others it wears off.
What are career advancement(n.) strengths
+Employee may develop broader skill and knowledge base which may help with long-term opportunities
What are career advancement(n.) limitations
-very selfish, can become very competitive(few people will be disillusioned or demotivated when they find they didn’t get the position)
-Hard to focus on team goals
-Can be demotivating if career advancement opportunities are mot available, e.g. In a sole trader or partnership, employee may leave for better prospects elsewhere
-May lose focus on business objectives
-Only works if employees are motivated by advancement, esteem, respect.(doesn’t work on people who don’t care about status.)
What are career advancement(n.) effects on short term motivation
-Employees are powerfully motivated to take on additional responsibilities to look good, or put in extra time and effort when promotions are being considered.
What are career advancement(n.) effects on long term motivation
-If position doesn’t open up for a long period(e.g. 5-6 years) employees lose that motivation
-Employees can be motivated to position themselves for a future position.
What are Investment in training(n.) strengths
+Usually very targeted at business objectives, e.g. A specific area for improvement
+Often leads to productivity gains and quality improvements
+can allow for the team to train together to develop group cohesion and synergy
What are Investment in training(n.) limitations
-Can be financially expensive, especially for off-the-job training
-If the employee leaves, they will take your investment with them
What are Investment in training(n.) effects on short term motivation
-Employees can be quickly motivated by an opportunity to upskill.
-Employees can sometimes be demotivated if they see the training as an interruption/inconvenience to their work deadlines.(to many deadlines and too much work=its more of a pain than motivation)
What are Support strategies(n.) limitations
-may involve a lot of management time meeting with and supporting the employee
-May take a long time to see the benefits develop
What are Investment in training(n.) effects on long term motivation
-Employees can be motivated for a duration if they feel the company is investing in their skills and knowledge development over the long-term(the business culture supports ongoing development).=long-term culture of Everyone feeling acknowledged and rewarded and seeing everyone develop while they’re staying with the business.
What are Support strategies(n.) strengths
+Employee feels valued and respected by the business
+Manager gets t ne directly involved motivational focus
+Generally financially cheaper than training investment
+The feeling of self worth in the employee may transition benefits to other aspects of the business
+Becomes cultural - benefit the whole business
What are Support strategies(n.) effects on short term motivation
-Employees feel immediately cared for and concerned about (wellbeing).