6 motivating employees

• benefits of a well-motivated workforce

  • high output helps keep low and increase profits
  • willingness to accept change, new methods of working
  • low absenteeism
• Method of motivation - financial rewards

  • wage
  • salary
  • bonus
  • commission
  • profit sharing
• wages is the payment weekly

  pro: workers do not have to wait long for their money

  con: have to calculate every week, takes time and money
• time rate is payment by the hour

  pro: easy to calculate, workers know how much they are going to be paid

  con: good and bad workers get paid the same, supervisors need to make sure that workers keep working> expensive
• Piece rate payments are payments made to workers for each item produced

  Pro: encourages workers to work faster and produce more goods

  Con: concentrate making number of products and ignore the quality
• salaries are paid monthly

  Pro: easy to calculate salary costs

  Con: no payment for extra time worked
• Bonuses is an additional payment as a reward for good work

  Pro: motivate workers as they consider themselves to be special and work more

  Con: bad feelings can be caused by other workers
• Commission is payment relating to the number of sales made

  • Pro: encourages the sales staff to sell as many products as possible
  • Con: stressful for the sales staff if they have a bad month , their pay will fall
• Profit Sharing is a system of sharing profits between employees and employers.

  • Pro: motivate workers to work hard as they will receive a share of the profits earned by the business
  • Con: if the business makes a low profit, then there will be no profit share leading to employees' disappointment
• Fringe benefits mean giving the employee benefits according to the seniority of the job

  example:

  • company vehicle( car )
  • discounts on the business's products
• Job satisfaction is when employees are happy with their job and enjoy their work.
• Job rotation involves workers swapping around and doing specific task for a limited time then changing again

  • Pro: easier for the managers to move workers around the factory when people are ill
  • Con: does not make the tasks more interesting
• Job enrichment in the workplace is when employees are given more responsibility and authority in their work.
• Team working involves a group of workers and allocating specific tasks and responsibilities to them
• Training is improving a worker's skills

  • Pro: give them a feeling that their good work has been recognised
• Opportunities for promotion are moving employees to a higher job/ material level

  • Pro: benefit from promoting workers who already know how it operates but also gain from better motivated workers