Unit 2.4 Flashcards
What are the 5 motivation theories?
Taylor Economic man, Adams equity, Maslow Hierarchy of needs, Pink drive, Hertzberg hygiene theory
What is Taylor’s motivation theory
Belief in the ‘Economic Man’- man is solely motivated by money
Known as ‘Scientific Management’.
Based on maximizing productivity by experimenting with different ways to perform a task.
Payment should be linked directly to output through a piece rate system of payment
What is Maslow’s hierarchy of needs motivation theory?
Based on the theory that we are motivated by what we need - our actions are dependent on our needs.
Once all needs on a level have been met, we will start to aim for needs at the next level
After a need has been satisfied it will no longer motivate us so we must aim higher
What is Herzbergs motivation theory?
Based on two factors
Motivating factors
Higher motivation when present
E.g. Challenging/meaningful work recognition
Real motivation comes through interesting and challenging work
Hygiene factors - do not motivate
Demotivate if not present
E.g. Salary, fringe, benefits
E.g. High salaries can lower dissatisfaction but will not lead to higher levels of motivation- This is because high salaries are quickly taken for granted
What is Adams equity theory
Based on the belief that workers are motivated by a feeling of fairness
I.e. they should get out of the job (e.g. salary, achievement) equal to what they put in (e.g. effort, skill, commitment)
What is Daniel pink’s motivation theory
Autonomy
-Self-direction and control
Mastery
-Become an expert
Purpose
-Connecting to meaning and a larger cause
Meaning
-Moves away from Carrot and stick Financial rewards
What are all the financial rewards
Salary
Wage (time and piece rate)
Commission
Profit related pay
performance related pay
Employee share ownership scheme
fringe benefits
Define salary
Fixed annual income that is usually paid monthly
What are the two types of wages?
Time – payment per hour, e.g. minimum wage
Piece rates – payment per unit of work
Define commission
A payment to a sales person for each sale made
Define profit related pay
A bonus to EE based on the profit of the company
E.g. 10% bonus if company makes a profit over $2m per annum
Define performance related pay
A bonus to EE based on the performance of EE
Requires target-setting and appraisal
Define employee share ownership schemes
When EEs become part owners of the company by being allocated shares
Define fringe benefits
Non-cash forms of financial rewards
E.g. company car, insurance, pensions, low-interest loans
What are all the non-financial benefits
Job enrichment
Job rotation
Job enlargement
empowerment
Purpose
teamwork
