Financial and Non financial incentives
- Created by: march_e
- Created on: 08-05-17 11:26
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- motivational incentives
- Financial Techniques
- Commission
- percentage payment on a sale made
- bonuses
- payment in addition to normal wage for reaching targets or in recognition for service
- performance related pay
- payment system designed for non manual workers where pay increases when targets are met
- profit share
- where workers are given a share of the profits as part of their pay
- Commission
- Non financial techniques
- empowerment
- giving official authority to employees to make decisions and control their own work
- delegation
- passing of authority down the amanagerial hierarchy
- consultation
- listening to the views on employees before making key decisions that affect them
- team working
- Organising people into working groups that have a common aim
- flexible working
- giving employees flexible hours that fit them
- job enrichment
- giving an employee a larger responsilibilty and recognition
- job rotation
- the periodic changing of jobs or tasks
- job enlargement
- giving an employee more work to do
- empowerment
- Financial Techniques
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