Motivation in Practice

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What are the most common payment systems?
Salary, Wage (time-based & piece rate), Commission, Performance, Profit-related, Employee share-ownership schemes & Fringe benefits (perks)
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Define the term; Salary
An annual income, usually paid on a monthly basis. Fixed each year
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Define the term; Time-Based Wage Rate
The payment to a worker made for each hour they worked, multiplying the wage by the hours worked, usually paid weekly.
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Define the term; Piece Wage Rate
The payment to a worker for each unit produced. It can be adjusted to reflect the difficulty of the job
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Define the term; Commision
The payment method to a sales person for each sale made.
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Define the term; Performance Related Pay (PRP)
A bonus scheme to reward staff for 'above-average' work performance, in addition to basic salary
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Define the term; Profit Related Pay
A bonus for staff based on the profits of the business, usually paid as a proportion of a basic salary
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Define the term; Employee Share-Ownership Schemes
Some profit-sharing schemes offer shares in the business to each worker rather than cash when the firm declares profit
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Define the term; Fringe Benefits (perks)
Non-case forms of reward, e.g. company car, free insurance, discounts on company products, etc.
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Name the 5 Non-Financial methods of motivation
Job Enlargement, Job Enrichment, Job Rotation, Teamwork & Empowerment
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Define the terms; Job Enlargement & Job Enrichment
Enlargement; an attempt to increase the scope of the job, by broadening or deepening the tasks undertaken. Enrichment; an attempt to motivate employees by giving them opportunities to use to the full range of their abilities, responsibility.
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Define the terms; Job Rotation, Teamwork & Empowerment
Rotation; the practice of moving employees between different tasks to promote experience & variety. Teamwork; production is organised so that groups of worker undertake complete units of work. Empowerment; allowing workers control over what they do
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Name the 4 main types of training
On-the-job training (induction training), Off-the-job training, Cognitive training (brain exercises) & Behavioural Skills training (improving communication with others)
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Define the terms; Reduncancy
When a job is no longer required so the employee doing this job becomes redundant through no fault of his or her own
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Card 2

Front

Define the term; Salary

Back

An annual income, usually paid on a monthly basis. Fixed each year

Card 3

Front

Define the term; Time-Based Wage Rate

Back

Preview of the front of card 3

Card 4

Front

Define the term; Piece Wage Rate

Back

Preview of the front of card 4

Card 5

Front

Define the term; Commision

Back

Preview of the front of card 5
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