Development and Retention of an Effective Workforce

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Financial Methods of Motivation

Businesses use several methods of motivating its employees. These include: commissions, bonuses, performance related pay, job satisfaction, fridge benefits, pensions.

Commissions are normally used to motivate workers who earn a low hourly pay. It's a fraction of the total sales value earned by the worker. /tips for people who work in the restraint sector can have a similar effect. 

Bonuses are rewards to high performing employees, and  the business overall, for achievement of defined targets and goals. These are paid at a particular time of the year in one lump sum. Bonuses in the banking sector are of particular interest currently. 

Performance related pay cab be given to high performers in a particular company. They can also be awarded through individual appraisals, or it can be paid more regularly.

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Motivation

Job satisfaction involves a continuous drive to motivate the workers so that they can have satisfactory levels of performance. This implies that there must be a very high degree of pleasure and enjoyment which the employees expect to derive from work. When such a working environment exists, then the levels of job satisfaction are high. The situation tends to be quite rare.

Fringe benefits are known as the non financial rewards employees receive. Fringe benefits can also include gym memberships, discounts on company products, company cars, private health care. Innovative companies are constantly looking to improve their fringe benefits as they can have a significant impact on performance and morale and are usually cheaper than a direct pay rise. 

Non contributory pensions are made by the employer on behalf of the employee. Contributory pensions are made by both the employer and employee into a pension scheme. Final salary pensions are often considered the best, but these are now few and far between for new employees.

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Improvement of Job Design

Job design ensures that the responsibilities and tasks of the employee are challenging and interesting. If jobs are mundane and very boring, it leads to dissatisfaction and a lack of motivation. Sometimes the employee can resign the role or the work station to make it more stimulating and rewarding. 

It's influenced by several factors, variety of skills, significance of task, task identity, autonomy, feedback. 

These factors affect the other components of job design which determine the attractiveness of the job in terms of what it has to offer to the employee designated to do the job. 

These components include job enrichment, job rotation, job enlargement.

The greater these components, the stronger the motivation will be by the workforce to perform to excellent standards.

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Employee Empowerment

Empowerment provides employees with the opportunities of actively participating in the decision making processes of the business. Employees often need to have the satisfaction of knowing that their opinions and views are valued by their employer. Several types of empowerment include: delegation, job enrichment, self management. 

Employee empowerment is not a new concept. Although there is no clearly established link between empowerment and performance, the belief is that there is some level of correlation between the two. 

In order to correctly utilise empowerment, the employees need to be trained, supported and provided with access to sufficient tools for information. 

Trust must be established between the management and employees in order for empowerment to work. The business does this through support and training and provision of ample learning opportunities for the employees. Line managers also need to listen to, and act upon, suggestions by the work force.

If they don't then the workforce will quickly loose motivation and they will not feel part of a wilder companywide team.

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Team Working

The ability to work in teams is important to the business. It has various objectives and when correctly used, it provides the platform for successful attainment of individual and business goals. 

Teams are known to develop productivity and increase the quality of the work. Furthermore, the levels of customer satisfaction are improved. Through team work, wastage is reduced and there's improvement in job satisfaction. Team functions can be categorised in to three groups. 

Tasks to achieve team objective and goal.

Interaction among the team to accomplish set tasks.

Self focusing on individual responsibilities to the team and performing them optimally to achieve team goals.

Team roles can be function based or task based. Function based roles involve embarking upon tasks to facilitate the job. These include expressers, gate keepers, harmonisers, encouragers and compromisers. Task based team roles involve the roles that actually get the job done. These include information seekers, agreement tests, initiators, summarisers and elaborators.

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Motivation Theories

Motivation in a business is very important in enabling employees to keep up with maintaining high levels of performance. There have been different theories of motivation by several individuals. 

Douglas McGregor's theory of motivation identified the theory x and theory y concept of motivation. Theory x concept is based on the view that the employees are lazy and would avoid work if possible therefore, close supervision is imperative. Hence theory x managers are viewed to be authoritative.

The Theory Y concept identifies workers as ambitious and highly self motivated. Hence theory Y managers need to facilitate the work environment to such a standard that enables such workers to thrive and supersede their ambition and drive.

Theory Z was proposed by Ouchi, his theory was that offering job security as the way for businesses to forge ahead. The results of this lead to high performance and job satisfaction. 

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Theories

FW Taylor's theory of motivation is viewed as the father of scientific management theory. His time and motion study focused on critically analysing every minute bit of the employee tasks.

FW Taylor proposed that the ability of the business to have qualified and adequately trained employees who could create new ideas was the key to the progress of the business. Such employees could then perform at their maximum efficiency. Furthermore, he suggested that managers should be able to apply scientific principles to planning of work and tasks for the subordinates. 

Abraham Maslow's theory of motivation is known as the hierarchy of needs. This identifies these needs as physiological need, safety, social or belonging needs, esteem or self respect and self actualisation.

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Theories

FW Taylor's theory of motivation is viewed as the father of scientific management theory. His time and motion study focused on critically analysing every minute bit of the employee tasks.

FW Taylor proposed that the ability of the business to have qualified and adequately trained employees who could create new ideas was the key to the progress of the business. Such employees could then perform at their maximum efficiency. Furthermore, he suggested that managers should be able to apply scientific principles to planning of work and tasks for the subordinates. 

Abraham Maslow's theory of motivation is known as the hierarchy of needs. This identifies these needs as physiological need, safety, social or belonging needs, esteem or self respect and self actualisation.

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Theories

Maslow's hierarchy of needs-

Basic Needs- Physiological needs: food, water, warmth, rest. Safety needs: security,safety

Psychological needs- Belongingness and love needs: intimate relationships, friends. Esteem needs: prestige and feeling of accomplishment. 

Self-fulfillment needs- Self actualization: achieving one's full potential, including creative activities.

Frederick Herzberg identified the two factor theory which was based on satisfaction and de motivators reduced job satisfaction. Motivators include growth, recognition, responsibility, achievement, the actual work and promotion. 

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Theories

Herzbergs Hygiene and  Motivational Factors

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