Vocab Flashcards
Extrinsic motivation
Comes from external rewards associated with working on a task, for example pay and other benefits
Motivation
The intrinsic and extrinsic factors that stimulate people to take actions that lead to achieving a goal
Intrinsic motivation
Comes from the satisfaction derived from working on and completing a task
Self-actualization
A sense of self-fulfillment reached by feeling enriched and developed by what one has learned and achieved
Hygiene factors
Aspects of workers job that have the potential to cause dissatisfaction, such as pay, working conditions, status and over-supervision by managers
Salary
Annual income that is usually paid on a monthly basis
Commission
A payment to a sales person for each sale made
Hourly wage rate
Payment to a worker made of each hour worked
Piece rate
A payment to a worker for each unit produced
Performance-related pay
A bonus scheme to reward staff for above-average work performance
Profit-related pay:
A bonus for staff based on the profits of the business- usually paid as a proportion of basic salary
Employee share-ownership schemes
Some Profit-Sharing schemes do not offer cash but shares in the business to each worker when the firm declares a profit
Fringe benefits
Non cash forms of reward- company cars, free insurance, health insurance etc.
