motivation

• What does motivation refer to in the context of employee performance?

  Motivation refers to the inner desire or willingness that propels a person to take action and achieve a specific goal or outcome
• What are the two types of motivation mentioned?

  Intrinsic and extrinsic motivation
• What is intrinsic motivation?

  Intrinsic motivation comes from within a person, such as values and beliefs
• What is extrinsic motivation?

  Extrinsic motivation comes from external factors, such as rewards or punishments
• How does motivation impact a business's success?

  Motivation plays a critical role in productivity, reliability, loyalty, and labor turnover rates
• How do motivated employees affect productivity?

  Motivated employees are more productive and efficient, generating higher levels of output and quality
• What is the relationship between increased productivity and business profits?

  Increased productivity results in higher profits for the business
• How does motivation affect the reliability of workers?

  Motivated employees are more likely to be reliable and dependable
• What behaviors do motivated employees exhibit regarding their job?

  They take pride in their job, show up on time, meet deadlines, and take fewer sick days
• What is the impact of motivated employees on trust within a business?

  Motivated employees lead to increased trust between the business and its employees
• How does motivation influence employee turnover rates?

  Motivated employees are more likely to stay with the company long-term, reducing turnover rates
• What are the financial implications of lower turnover rates?

  Lower turnover rates reduce the need for costly recruitment and training
• financial incentives:


  -remuneration

  -commission

  -bonus

  -promotion

  -fringe benefits
• What are financial incentives?

  Rewards or payments given to employees for their labor or improved performance
• What are the types of financial incentives used to motivate employees?

  • Bonuses
  • Commissions
  • Profit sharing
  • Stock options
  • Salary increases
• What do different theories of human motivation suggest about money's role in motivating staff?

  They offer varying perspectives on how money influences employee motivation
• What does Herzberg's Two Factor Theory state about money?

  Money is not a motivator, but lack of it leads to dissatisfaction
• According to Maslow's Hierarchy of Needs, what is the first need that motivates people?

  The physiological need (food, water, clothing)
• What happens once a need is met in Maslow's Hierarchy of Needs?

  It no longer serves to motivate
• How do Herzberg's Two Factor Theory and Maslow's Hierarchy of Needs differ in their views on motivation?

  • Herzberg: Money is a hygiene factor, not a motivator
  • Maslow: Needs are hierarchical and once met, they cease to motivate
• What does remuneration refer to in the context of employee compensation?

  It refers to the basic wage or salary that a worker receives for their labour
• How are employees who work on an hourly rate compensated?

  They are paid wages
• Who typically receives salaries?

  Full-time staff
• What usually accompanies salaries for full-time staff?

  Benefits
• What is commission in the context of employee compensation?

  A percentage of sales revenue paid to workers who sell products or services
• In which roles is commission commonly used?

  Sales roles
• How does commission motivate staff?

  It motivates staff to sell more and increase their sales revenue
• What is a bonus in the context of employee compensation?

  An additional payment given to staff as a reward for achieving specific goals
• What might motivate staff to work harder regarding bonuses?

  The opportunity to earn more money
• What does promotion usually require from an employee?

  A higher level of responsibility in the job role
• What is typically offered to reflect increased responsibility in a promotion?

  Higher pay
• How can a clear promotion pathway act as a motivator?

  It can improve productivity and staff performance
• What are fringe benefits?

  Additional benefits usually offered to salaried employees
• What are some examples of fringe benefits?

  Company car, private healthcare, gym membership
• How can fringe benefits motivate employees?

  Employees may work hard to keep their job and the associated fringe benefits
• What are non-financial incentives?

  Rewards or motivators not directly related to money
• What do non-financial incentives usually include?

  Methods that lead to recognition, praise, job satisfaction, and work-life balance
• What are the types of non-financial incentives mentioned?

  • Autonomy
  • Job enrichment
  • Job rotation
• What does autonomy in non-financial incentives involve?

  Giving staff the authority and resources to make decisions without management approval
• How does autonomy affect staff productivity?

  It increases staff sense of ownership and responsibility, leading to improved productivity