unit 2 key words Flashcards
stakeholders
an individual or group which has an interest in a business because they are affected by its activities and decisions
motivation
the factors that influence the behaviour of employee 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 economic man
the view that humans are motivated only by money
price 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 employee which are often used to motivate employees to increase their efforts
non-financial rewards
methods used to motivate employees that do not involve giving any financial reward
hourly wage rate
a payment to employees based on a fixed amount for each hour worked
salary
a fixed annual payment to certain grades and type of staff not based on hours worked or output
price-rate
a payment to employees based on the number of units produced
