3.4.3 - Motivating Employees

Cards (16)

Motivation
The commitment to do something (the will to work)
Benefits to having a motivated workforce
Increase in productivity
Low levels of absenteeism
High levels of staff retention
Good reputation
Improve product quality
Good customer service
Two types of methods of motivation
Financial Non-financial
Financial methods of motivation
Increase in salary
Increase in wage
Commission
Profit share
Piece rate
Non-financial methods of motivation
Job enlargement
Job enrichment
Training
Management style
Fringe benefits
Extra items given to employees whilst they work in a business
Salary
A set amount for the year which is paid in monthly instalments
Wage
A fixed rate paid per hour for a set number of hours worked
Commission
When employees are paid a percentage of the value of products that they sell
Profit Share
An additional payment which is dependent on how well the business is performing
Job enrichment
Giving employees more challenging tasks to do
Two types of management styles
Autocratic Democratic
Piece Rate
Payment paid to an employee based on how many products they make
Job Enlargement
Giving staff a greater variety of tasks to perform
Autocratic
Employees are told what to do, when and how to do it. They are not involved in decision making
Democratic
Giving more freedom to workers and more say in decision-making