BME

• Financial incentives for employees

  Rewards given to employees in the form of monetary compensation to motivate and encourage high performance
• Financial incentives


  • Sales bonuses
  • Share schemes
• Non-financial incentives for employees

  Rewards that do not involve monetary compensation but are designed to enhance motivation and job satisfaction
• Non-financial incentives


  • Skill improvement training
  • Recognition and reward programs
  • Penalties for employees
• Skill improvement training


  Provides employees with opportunities to enhance their skills and knowledge, which can increase job satisfaction and career development
• Recognition and reward programs

  Acknowledge and appreciate employees' achievements, contributions, and milestones, boosting their motivation and morale
• Penalties for employees


  Consequences or disciplinary actions imposed for underperformance or violation of company policies, serving as a deterrent and motivating employees to adhere to expected standards
• Maslow's Hierarchy of Needs

  A motivation theory proposed by Abraham Maslow that suggests individuals are motivated by a hierarchical set of needs, starting from basic physiological needs and progressing to safety, belongingness and love, esteem, and self-actualization needs
• Maslow's Hierarchy of Needs

  1. Individuals strive to fulfill lower-level needs before moving on to higher-level needs, and the satisfaction of these needs serves as a motivator

  2. Individuals typically progress from lower-level needs to higher-level needs as lower-level needs are fulfilled
• Herzberg's Motivation-Hygiene Theory


  Proposes that job satisfaction and dissatisfaction are influenced by two sets of factors: motivators (or satisfiers) and hygiene factors
• Motivators


  Factors such as recognition, achievement, and growth opportunities that contribute to job satisfaction and motivate individuals to perform at higher levels
• Hygiene factors


  Factors including salary, job security, and working conditions that are necessary for preventing job dissatisfaction but do not contribute to long-term motivation
• Satisfaction and dissatisfaction


  Separate and independent factors, not opposite ends of a continuum
• Vroom's Expectancy Theory


  Individuals' motivation to perform a particular behaviour is influenced by their expectations regarding the outcome of the behaviour
• Expectancy


  The belief that effort will lead to performance
• Instrumentality


  The belief that performance will lead to rewards
• Valence


  The value or importance individuals place on the rewards or outcomes they expect to receive
• Adams' Equity Theory


  Focuses on individuals' perceptions of fairness in the workplace, suggesting that employees compare their inputs and outcomes with those of others to determine if they are being treated fairly
• If employees perceive an inequity or imbalance in the exchange, such as when they believe they are putting in more effort than others but receiving fewer rewards, it can lead to feelings of demotivation and dissatisfaction
• Autocratic leadership style


  The leader holds full control and decision-making authority, makes decisions without consulting or involving subordinates, and communication is typically one-way
• Participative leadership style


  The leader encourages input and involvement from subordinates in decision-making, values and considers the opinions, ideas, and suggestions of team members, and communication is two-way
• Situational Leadership Style


  A flexible style that adapts to different situations and the needs of the team or individuals, with the leader assessing the readiness and development level of their team members and adjusting their leadership approach accordingly
• Leadership Style


  • Autocratic
  • Participative
  • Situational
• Autocratic leadership style can be effective in situations where quick decisions are needed or when there is a need for strong leadership
• Participative leadership style can boost employee morale, engagement, and creativity by giving them a sense of ownership and empowerment
• Situational leadership recognizes that there is no one-size-fits-all approach to leadership and emphasizes the importance of tailoring leadership behaviors to meet the needs of the situation and individuals