Unit 3 - 3.5 - Motivation And Retention Flashcards
What is a bonus?
An additional payment to workers for achieving a target
Bonuses are often used as incentives to encourage performance.
What are fringe benefits?
Additional benefits that workers may receive in addition to their pay, such as:
* Health insurance
* Gym membership
* Childcare vouchers
Fringe benefits can enhance employee satisfaction and retention.
Define motivation in the workplace.
Encouragement given to workers to work well
Motivation can come from various sources, including financial rewards and recognition.
What does pay refer to?
The money earned by workers as a reward for the work they do
Pay can be in the form of salary, hourly wages, or commissions.
What is profit sharing?
When workers receive some of the profits made by a business
Profit sharing can align the interests of employees with those of the business.
What is a wage?
A wage is usually paid weekly and is based on the number of hours worked
An extra amount per hour can be paid for overtime or unsociable hours. It motivates workers because the more they work the more they earn.
What is a key drawback of a wage system?
A wage does not reward workers for how well they work, only how long
This can lead to a lack of motivation for productivity.
How is a salary typically structured?
A salary is an annual sum divided into 12 monthly payments
Salaries are often paid to professional workers such as teachers and accountants.
What motivates workers receiving a salary?
They receive a regular income
This consistency can enhance job security and satisfaction.
What is a bonus?
A payment that a worker receives in addition to their pay, usually for meeting a production or sales target
Bonuses can be paid to individuals or teams whose output can be measured.
How do bonuses motivate workers?
The more they produce or sell, the more they earn
This can improve productivity.
What is an important consideration for setting targets for bonuses?
Targets need to be fair and realistic
If not, workers will not feel motivated.
What is profit sharing?
Workers are paid a part of the profits of the business
It is often given to workers whose individual output cannot be measured.
How does profit sharing motivate workers?
They know if they work efficiently, the business will make more profit and it will increase their income
This aligns their interests with the business’s success.
What is a drawback of profit sharing?
It reduces the profits for shareholders
This can lead to tension between workers and shareholders.
What are fringe benefits?
Benefits in kind given to workers on top of their pay, such as free health insurance
These enhance the overall compensation package.
How do fringe benefits motivate workers?
They provide an attractive package of pay and benefits
They can help in reducing employee turnover.
What is a potential downside of offering fringe benefits?
They are a cost to a business and may reduce profits
Businesses must balance these costs with employee satisfaction.
What is an award scheme?
A presentation to recognise an individual worker or team’s effort and achievement.
Award schemes can vary in criteria and recognition methods.
What are non-financial methods of motivation?
Ways of encouraging workers to work longer or more efficiently without extra pay
Examples include praise, award schemes, and providing a good working environment.
Give three examples of non-financial methods of motivation.
- Praise
- Award scheme
- Good working environment
True or False: Non-financial methods of motivation involve paying workers extra money.
False
Fill in the blank: Non-financial methods of motivation include __________, an award scheme, or providing a good working environment.
[praise]
What is the method of praising workers?
Workers are thanked and praised for the good work they have done, either in private or publicly in front of other workers.
How does praising workers motivate them?
It makes workers feel appreciated and valued. Those not praised may feel that they need to do better to earn praise.
What is an advantage of praising workers?
It does not cost the business anything and it helps to create a positive climate.
What is a disadvantage of praising workers?
Sometimes if there is no financial reward for good work over a long period, workers may feel that they are not truly valued.
Who is suitable for the method of praising workers?
All workers as everyone likes to feel appreciated.
What is an Award scheme?
Workers are presented with rewards for their work, such as vouchers, holidays, or certificates of achievement.
Award schemes aim to recognize and motivate employees through tangible rewards.
How does an Award scheme motivate workers?
Makes workers feel valued and encourages them and others to continue to increase their efforts.
Recognition through awards can boost morale and productivity.
What is an advantage of an Award scheme?
Cost of rewards varies, and not all are expensive to give.
This flexibility allows organizations to tailor rewards to fit their budget.
What is a disadvantage of an Award scheme?
There is some cost to them, and they need to be given fairly to avoid upsetting workers who do not receive an award.
Fairness is crucial to maintain a positive work environment.
Who is an Award scheme suitable for?
All workers, as everyone likes to feel appreciated.
Inclusion of all employees ensures a cohesive team dynamic.
What is Metnoa?
A method to improve the workplace environment
How does Metnoa motivate workers?
By making them feel valued and respected
List advantages of Metnoa
- Improves workplace satisfaction
- Enhances team cohesion
- Increases respect among colleagues
What is a disadvantage of implementing Metnoa?
There are costs associated with improvements
What type of workers is Metnoa suitable for?
Most workers, except those in challenging conditions
Fill in the blank: Metnoa involves _______ to improve the workplace.
[listening to people and giving them a say]
True or False: Metnoa can include team building activities.
True
What is a key aspect of Metnoa that contributes to a positive attitude at work?
Workers feeling well looked after
What can be a result of workers feeling valued in Metnoa?
A positive attitude to work
Fill in the blank: Improving _______ can be a part of Metnoa.
[furniture or facilities]
What is Metnoa?
A method to improve the workplace environment
How does Metnoa motivate workers?
By making them feel valued and respected
List advantages of Metnoa
- Improves workplace satisfaction
- Enhances team cohesion
- Increases respect among colleagues
What is a disadvantage of implementing Metnoa?
There are costs associated with improvements
What type of workers is Metnoa suitable for?
Most workers, except those in challenging conditions
Fill in the blank: Metnoa involves _______ to improve the workplace.
[listening to people and giving them a say]
True or False: Metnoa can include team building activities.
True
What is a key aspect of Metnoa that contributes to a positive attitude at work?
Workers feeling well looked after
What can be a result of workers feeling valued in Metnoa?
A positive attitude to work
Fill in the blank: Improving _______ can be a part of Metnoa.
[furniture or facilities]
What is praise?
A way of motivating a worker by complimenting their work and so making them feel recognised and valued.
Praise can enhance employee morale and productivity.
Define working environment.
The quality of the physical workplace and its atmosphere (how people treat each other, etc.)
A positive working environment can lead to increased job satisfaction and effectiveness.
What is the primary focus of motivation in the workplace?
Encouraging workers to perform well
Motivation involves strategies and practices aimed at enhancing employee performance and satisfaction.
True or False: Motivation in the workplace is solely about financial incentives.
False
While financial incentives are important, motivation also encompasses psychological and emotional factors.
Fill in the blank: The process of motivating workers includes _____ to enhance their performance.
[strategies and practices]
These strategies can include recognition, career development opportunities, and fostering a positive work environment.
What is the primary focus of motivation in the workplace?
Encouraging workers to perform well
Motivation involves strategies and practices aimed at enhancing employee performance and satisfaction.
True or False: Motivation in the workplace is solely about financial incentives.
False
While financial incentives are important, motivation also encompasses psychological and emotional factors.
Fill in the blank: The process of motivating workers includes _____ to enhance their performance.
[strategies and practices]
These strategies can include recognition, career development opportunities, and fostering a positive work environment.
What is a benefit of high worker productivity?
Reduced costs of production and increased sales and profits
High productivity allows businesses to produce more goods or services in less time, leading to lower production costs.
How does high worker productivity affect levels of worker supervision?
Reduced levels of worker supervision
With motivated workers, fewer supervisors may be needed, lowering business costs.
What impact does high worker productivity have on absenteeism?
Low worker absenteeism
Happy workers are less likely to take days off, even when slightly unwell.
What is a key outcome of workers taking pride in their work?
Improved quality of goods and services
When workers are proud of their work, they strive to produce high-quality products, enhancing the business’s reputation.
How does improved quality from workers affect costs?
Less waste, which helps to reduce costs
Higher quality production often leads to fewer defects and waste, contributing to lower operational costs.
What is retention in the context of employment?
When workers choose to stay employed in a business rather than leaving to work elsewhere.
What is labour turnover?
A measure of the number or proportion of staff who leave an organisation each year and who therefore need to be replaced.
What is one benefit of workers staying a long period of time?
The business will need to recruit workers less often, saving time and recruitment costs.
This reduces the overall turnover rate and stabilizes the workforce.
How does long-term employment affect training costs?
Training costs will be lower because the business will not need to train as many new workers.
Existing workers are already familiar with the business and its customers.
What impact does a long-term workforce have on the firm’s recruitment process?
It will be easier for them to recruit new workers because it will have a good reputation for treating its workers well.
A positive reputation can attract more candidates.
