U3: AOS2 (Employees - Business Objectives + Motivation) Flashcards
What are the 5 principles of the Hierarchy of Needs (Abraham Maslow)?
[Describes an employee’s needs in order, and how they can only progress once they have achieved each preceding tier]
1) Physiological needs (basic needs): (eg. food, water, shelter)
2) Safety needs (security/protection): (eg. personal/financial security)
3) Social needs (affection/acceptance): (eg. affection, sense of belonging)
4) Self-esteem needs (recognition/attention): (eg. need for status, recognition/attention)
5) Self-actualisation (ultimate need/personal growth): (eg. personal growth, achieving potential)
What are the 5 principles of the Goal Setting Theory (Edwin Locke + Gary Latham)?
[Describes how employees can be motivated by set goals]
1) Clarity: Making goals simple, clear, and specific, detailing what specific actions can be taken to achieve this.
2) Challenge: Setting goals that are foreign or new to an employee in order to gain their interest
3) Commitment: Allow employee to have a considerable part in goal setting, allowing them to make challenging goals and commit to these.
4) Feedback: Regular feedback should be given to show employee their progression, alter goals depending on this, and recognise achievements.
5) Task Complexity: Goals should not be too hard, and training/resources should be provided to help.
What are the 4 principles of the Four Drive Theory (Lawrence + Nohria)
[Describes the ways in which an employee can be motivated]
1) Drive to acquire: Desire to acquire basic needs (survival, money, job) + complex needs (eg. accomplishments/status)
2) Drive to bond: Desire to belong within a group/business
3) Drive to comprehend/learn: Desire to understand the world + contribute to it
4) Drive to defend: Desire to protect family/accomplishments/beliefs from threats
How can a manager/business satisfy each of the 4 principles of Lawrence + Nohria’s Four Drive Theory
1) Acquire: Reward employee w/ praise/recognition
2) Bond: Encourage teamwork
3) Comprehend: Ensure jobs are meaningful/interesting
4) Defend: Create trustworthy processes to help employee overcome fear of change (eg. work-life balance)
How can a manager/business satisfy each of the 5 principles of Maslow’s Hierarchy of Needs?
1) Physiological: Provide employee with job/income
2) Safety: OH+S/insurance
3) Social: Encourage teamwork/social activities
4) Self-esteem: Job title, bonus payments, promotion
5) Self-actualisation: Provide challenging work, participative decision-making
How can a manager/business satisfy each of the 5 principles of Locke + Latham’s Goal Setting Theory?
1) Clarity: Manager/employee uses SMART to establish employee’s goals
2) Challenge: Employee undertakes job/tasks that are new/different. Can be assisted w/ training
3) Commitment: Decision-making process decentralised, employee involvement to gain interest in task
4) Feedback: Periodic feedback provided by manager (discussion/meetings)
5) Task Complexity: Goals are set that challenge employee based on their skills. Resources can be provided to help (equipment)
5 ways employee management can achieve business objectives.
1) MOTIVATED EMPLOYEES = more efficient = increased sales = MAKE PROFIT
2) TRAINED EMPLOYEES = more efficient = increased sales = MONEY TO FULFIL MARKET/SOCIAL NEED
3) PERFORMANCE MANAGEMENT = increased knowledge/more efficient = better customer service = INCREASE MARKET SHARE
4) TERMINATION MANAGEMENT = cut costs = profit = MEET SHAREHOLDER EXPECTATION
5) SATISFIED EMPLOYEES = more motivated/efficient = make profit = ACHIEVE ALL OBJECTIVES
What are the 4 main motivation strategies?
1) Performance-related pay
2) Career advancement
3) Investment in training
4) Support and sanction
Performance-related pay
1) What is it?
2) How does it motivate?
1) A financial reward given to employees whose work is considered to have reached a required standard, or is above standard.
2)
- Increases morale
- Encourages hard work
- Incentive to work
- Align efforts to objectives of employer
Performance-related pay
1) 2 Advantages
2) 2 Disadvantages
1)
- Improves motivation/productivity levels
- Clear criteria on how to achieve incentives
2)
- May lead to a sacrifice in job safety
- Can cause resentment from other employees
Career advancement
1) What is it?
2) How does it motivate?
1) Promoting employees to positions with more responsibility or authority.
2)
- Employee given job experience (challenge will motivate)
- Incentive to gain status
- Variety of work = increases interest
Career advancement
1) 2 Advantages
2) 2 Disadvantages
1)
- Retains talented employees
- Business knows the values/skills of promoted employee
2)
- Employees overlooked for promotion feel demotivated
- Employee may be demotivated if new responsibilities are too difficult
Investment in training
1) What is it?
2) How does it motivate?
1) Providing employees with job experience and the opportunity to gain skills in order to increase job efficiency
2)
- Increases knowledge/abilities
- Creates encouraging environment
- Creates positive learning culture
Investment in training
1) 2 Advantages
2) 2 Disadvantages
1)
- Indicates that business values employees
- Gives sense of job security for employees
2)
- Can be ineffective if training systems are outdated/ not applicable
- Expensive and time-consuming
Support
1) What is it?
2) How does it motivate?
1) Treating employees in a way that they feel valued for their performance, as well as assisting with employee problems (eg. Managerial support/mentoring, Employee Assistance Programs)
2)
- Employees will feel proud to work for business
- Employees will be in a better state to work
