2.4

Financial motivation:

• salary /wage

• Bonus ( extra salary )

• Performance based pay ( Based on how many years you work your pay can change )

• Commission ( one time payment for a job )

• Fringe benefits ( like things for the job, like laptop )

• Time rate ( you get paid for the amount of hours worked )

• Piece rate ( you get paid for the amount of output produced)

Salary adv and dis

Wages

Commission

Performance related pay

Rewards those employees who meet certain goals

Profit related pay

You get payed depending on how the business is doing financially

Employee share ownership schemes

They get shares in the company

Fringe Payments

Benefits in addition to their wage/salary

• meals

• Staff discounts

• Computer

• Company car

• Uniform

• Private health care

Non financial motivation:

• job rotation ( can do different roles )

• Job enlargement ( given more responsibilities )

• Job enrichment ( more challenging ) can give you more experience for future

• Delegation ( when you give someone else a task )

• Purpose/ opportunity to make a different ( teachers, charity workers )

Motivation theories:

• Taylor

• Maslow

• Herzberg

• McClellands acquired needs theory

• Deci and Ryans self determination theory

• Equity and expectancy theory

Examples of hygiene factors and motivators

Adv and dis of internal advertisement

Adv

• cheaper

• Helps boost moral (hope)

Dis

• Limited the pool of applicants

Adv and dis of external advertisement

Adv

• wider audience

Dis

• expensive

What is job advert?

Job description ( what they will be doing )and person specification ( what they are looking for )

Recruitment methods

Internal And external

Recruitment process (steps)

• identify job (vacancy)

• Create advert - with a job description and personal specification

• Shortlist (reduce the amount of people in the application)

• Interview

• Select the candidate

• If they turn it down, you ask the next person

What is Induction training

tells us about the company

What is on the job training?

Training on the job

What is off the job training?

Being trained by a professional outside of the workplace

Appraisals

Performance review or performance appraisal

- the formal procedure of assessing the performance and effectiveness of employees in relation to their job description and the business objects

Performance review: SMART targets

Specific

Measurable

Achievable

Realistic

Time bound

What is McClellands acquired needs theory? (HL)

What is Deci and Ryans self determination Theory? (HL)

What is equity and expectancy theories? (HL)

What is Maslows theory ?

What is herzberg theory ?

What is Taylor’s theory?