Motivating employees 1 (Edexcel GCSE Business): Flashcards
📚Flashcards
Practise the cards
12 cards from this deck
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Practise the cards
12 cards from this deck
Remuneration
Remuneration
Financial methods used to motivate workers
Wages
Wages
Payment for time worked (hours spent working)
Overtime
Overtime
Extra pay for working beyond normal hours
Salaries - suitable for which roles?
Salaries - suitable for which roles?
Non-manual & professional roles where output hard to measure
Piece rate
Piece rate
Pay per item produced or task completed
Commission
Commission
Percentage of sales an employee generates
Bonus schemes
Bonus schemes
Extra pay for meeting or exceeding targets
Fringe benefits
Fringe benefits
Non-cash rewards (e.g. company car, healthcare, pension)
Commission-based pay works well for which roles?
Commission-based pay works well for which roles?
Sales positions
Benefits of motivated workforce
Benefits of motivated workforce
Higher productivity, better service, lower absence, staff stay
Can money alone fully motivate workers?
Can money alone fully motivate workers?
No - research suggests other factors also important
Non-financial motivators (4 examples)
Non-financial motivators (4 examples)
Self-esteem, creativity, relationships, sense of purpose