Training and Rewards

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  • Training and Rewards
    • Induction Training
      • Usually lasts a few weeks
      • Helps new employees settle into the business
      • For new employees
      • Gives new eployees the basics of how to start
      • Usually required to get a job in the business
    • On-the-job training
      • Experts can be used
      • Travel costs can make it expensive
      • Trainees can learn without affecting the business
      • While being trained the employee isn't productive
      • There is less pressure to learn quickly if they make mistakes
      • Trainees aren't working with a team that they will be a part of
    • Off-the-job training
      • Takes the employees away for normal place of work
      • Instructed by specialists of another business at a training centre
      • Day release from work to attend a local college
      • Work with employees from other branches of company or another business
      • Experts can be used
      • Travel costs make it expensive
      • Learn the correct methods and make mistakes without affecting the business
      • While training the employee isn't productive
      • There's less pressure to learn quickly
    • Fringe Benefits
      • Company car
      • Pension scheme
      • Staff discount
      • Medical discount
      • Subsidised meals
      • Life insurance
      • The higher in the company you are, the more you get
      • Non-financial rewards
      • Different rewards for different people
      • Pension
      • The benefits you receive will be on your contract
      • Not all fringe benefits are suitable to the job
    • General Rewards
      • Promotions
      • Days out
      • Tickets to sport events/concerts etc.
      • More holidays
      • Bonuses
      • Pay rise
      • If worked overtime then get extra pay

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